Higher Premiums, Bigger Deductibles: Suze Orman Explains How To Stay Ahead Of 2026 Health Insurance Price Hikes

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2026 could bring sticker shock if you're insured through your job or the Affordable Care Act. Experts, including financial advisor Suze Orman, say premiums, deductibles, and out-of-pocket costs are all expected to rise — and that means now is the time to plan.

Know What You're Facing

"Chances are your plan's costs are going up, and so too may your out-of-pocket costs," Orman writes on her blog. Even if your employer offers only one plan, Orman says it's crucial to understand exactly what your premiums, deductibles, and co-pays will be next year.

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The average employer is expected to pay 6.5% more per employee for health coverage in 2026, according to Orman. While that doesn't mean you'll pay all of it, she said it's likely some costs will be passed on to employees. That could mean higher monthly premiums or a bigger deductible.

"Even if you can't change your plan, you can prepare for what's ahead," Orman wrote. "If your deductible will be higher in 2026, I want you to make sure your emergency savings can cover the full amount."

She also said you should know your plan's maximum out-of-pocket costs, which could reach $5,000 for individuals or $10,000 for families. "Otherwise, you could end up paying with a credit card, and that can end up costing you so much more," she wrote.

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High-Deductible Plans: A Double-Edged Sword

If your employer offers multiple plans, Orman said a high-deductible health plan paired with a health savings account can sometimes make sense. HDHPs come with lower premiums but higher deductibles. HSAs give triple tax benefits: your contributions are tax-deductible, the money grows tax-deferred, and withdrawals for qualified medical expenses are tax-free.

"An HDHP paired with an HSA only makes sense if you have the savings to cover the higher annual deductible," Orman wrote. Without that cushion, the lower monthly premium might not be worth the risk

Rethinking Adult Child Coverage

Orman said parents still covering adult children on their plan should take a fresh look. She points out that while coverage is allowed until age 26, many young adults now have access to their own employer-sponsored insurance at potentially lower costs. Comparing plans and transitioning coverage when feasible can save money without leaving anyone uninsured.

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The ACA Marketplace: Big Changes Ahead

For those buying insurance through the ACA marketplace, the picture could be even tougher. Enhanced premium tax credits, which have kept many plans affordable, are set to expire at the end of December. Without them, millions could face huge premium jumps. Someone making $28,000 a year could see their annual premiums rise from $325 to $1,562 — a nearly fivefold increase, according to KFF.

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Some Americans are already considering going without coverage. ""Our plan is to keep putting the money we're already paying towards health care in savings and really just hoping that we don't have a stroke or we don't have a heart attack," Ginny Murray, whose insurance is covered through the ACA, told NBC News.

Experts warn this approach carries real financial risk: even a single major medical event can lead to thousands in debt.

Can Planning Ahead Make a Difference?

Orman says to review your plan, understand potential out-of-pocket costs, and adjust your coverage where possible. For some, this preparation can help manage rising premiums and higher deductibles in 2026.

But for many Americans, even careful planning may not make the increase manageable. Experts warn that without additional financial support, the combination of higher premiums and deductibles could still put serious strain on household budgets.

Knowing the numbers is important — but is it enough to fully protect against the financial impact of next year's health insurance hikes?

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This article Higher Premiums, Bigger Deductibles: Suze Orman Explains How To Stay Ahead Of 2026 Health Insurance Price Hikes originally appeared on Benzinga.com

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