The state Department of Banking and Insurance said Tuesday that nearly 70,000 New Jersey residents have dropped health insurance coverage since January 2026 due to higher premiums following the federal government’s failure to extend enhanced ACA premium tax credits.
Enrollment in Get Covered New Jersey – the official state-based health insurance marketplace under the Affordable Care Act (ACA) – has declined 14% from 509,192 at the end of open enrollment on Jan. 31 to 440,362 on April 15, largely due to nonpayment of higher premiums.
“We are seeing the heartbreaking consequences of the federal government’s failure to extend the enhanced premium tax credits for tens of thousands across the Garden State,” said acting Commissioner Susan Ochs, who leads the Department of Banking and Insurance (DOBI). “These individuals and families will now be at risk of forgoing important preventative care and left to rely on costly emergency services that they may not be able to afford.”
According to DOBI, there has also been a significant shift in health plan choice for the 2026 plan year with many people “buying down” from mid-level Silver plans to Bronze plans that have lower premiums but much higher out-of-pocket costs.
In 2025, 83% of enrollees who actively shopped for a plan on Get Covered New Jersey enrolled in a Silver plan, but that percentage dropped to 68% this year. Meanwhile, active Bronze selections increased from 16% to 31%. The percentage of low-income residents paying $10 or less per month for coverage has also fell from 48% in 20025 to 11% in plan year 2026.
Despite these challenges, Get Covered New Jersey remains the only place where consumers can get state and federal financial help to lower the cost of monthly premiums. According to DOBI, 8 out of 10 people enrolling in a health plan through Get Covered New Jersey qualify for financial help.
Get Covered New Jersey continues to offer comprehensive coverage from private health insurance companies that cover preventive services, emergency services, prescription drugs, prenatal and pediatric care, and more. No one can be denied coverage due to a pre-existing condition. While the Open Enrollment period for plan year 2026 has now closed, residents can still enroll and receive financial help if they experienced a major life event, such as marriage, pregnancy, or a move that qualifies them for a Special Enrollment Period.
New Jersey has made available state subsidies, called NJ Health Plan Savings, to qualifying residents with household incomes up to 600% of the federal poverty level. In 2026, an individual with an income of up to $93,900 and a family of four who earns up to $192,900 a year can receive state subsidies to lower the costs of health coverage.
From plan year 2021 to plan year 2026, New Jersey has invested over $1 billion in state support for Get Covered New Jersey consumers.
“While New Jersey is committed to addressing healthcare costs, Washington has chosen to drive up health insurance prices, resulting in more New Jerseyans losing coverage,” Gov. Mikie Sherrill said. “These decisions have real consequences for our communities.”
