Recently, Meghan (Carson) Muñoz, CPA, CFP®, CDFA®, posted about the financial planning changes resulting from “One Big Beautiful Bill” (OBBBA). In addition to the planning opportunities created in the bill, it also brings new complexities for those who get health insurance from Healthcare.gov.
To help prepare you for the new open enrollment period, Nov 1–Dec 15 (instead of mid-January), here is a summary of the key changes to be aware of:
- Premium subsidies (tax credits) will shrink or expire: The enhanced premium tax credits, which capped costs at 8.5% of income, end January 1, 2026. Your premiums will likely rise. Use Healthcare.gov’s updated subsidy calculator to estimate what level of subsidies you will qualify for.
- Tougher Enrollment Checks, No More Auto-Renewals: Starting in 2028, you’ll need to verify income, family size, and residency before coverage begins. Auto-renewals are no longer available, so you will need to log in yearly and likely provide verification documents, such as pay stubs or tax returns. We may also see requests for mid-year income checks.
- Full Repayment for Subsidy Overages: If you underestimate your income, you’ll repay all excess subsidies starting with 2026 taxes. For example, misjudging $50,000 instead of $70,000 could mean repaying $1,500.
- Special Enrollment Limits: Special enrollment periods for life events like job loss still exist, but subsidies may not apply unless it’s a major qualifying event. To know if your life event qualifies for subsidies, explore Healthcare.gov for more information.
- More HSA-Friendly Plans: Good news, bronze and catastrophic plans qualify for Health Savings Accounts (HSAs) in 2026. You can also use HSAs for direct primary care fees. Healthcare.gov’s filters will highlight these, allowing you to save pre-tax dollars for medical expenses.
For those of you who are reliant on Healthcare.gov and have some level of subsidies, your advisor team is working on year-end planning to navigate these changes and minimize their impact on your plan. We use conservative planning estimates for unpredictable events, such as changes in law. We recommend visiting your portal now to update your profile and start exploring plans. You can also contact a healthcare navigator by calling 211. They provide enrollment assistance, coverage options, and other information by phone, online, or in person.
Nic Cohen, CFP®
Financial Advisor
This is for informational use only and should not be construed as tax advice. You should always consult with your tax professional with regard to specific tax questions and obligations.
Alaska Wealth Advisors is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Alaska Wealth Advisors’ investment advisory services can be found in its Form ADV Part 2 and/or Form CRS, which is available upon request.
CFP – Certified Financial PlannersTM (CFP®) are licensed by the CFP® Board to use the CFP® mark. CFP® certification requirements include: Bachelor’s degree from an accredited college or university, completion of the financial planning education requirements set by the CFP® Board (www.cfp.net), successful completion of the CFP® Certification Exam, comprised of two three-hour sessions, experience requirement: 6,000 hours of professional experience related to the financial planning process, or 4,000 hours of Apprenticeship experience that meets additional requirements, successfully pass the Candidate Fitness Standards and background check, agree annually to be bound by CFP® Board’s Standards of Professional Conduct, and complete 30 hours of continuing education every two years, including two hours on the Code of Ethics and Standards of Professional Conduct.
