Marketplace Open Enrollment 2027: The Money Checklist (Nov 1–Jan 15)

📐 Figures verified Sep 26, 2026 against CMS and HealthCare.gov (enrollment dates), IRS Rev. Proc. 2026-26 (2027 contribution percentages), the 2026 HHS poverty guidelines and Public Law 119-21. How we check numbers →

Numbers That Matter: 2027 Marketplace Coverage

The 2027 Calendar

Open enrollment is the one window each year when anyone can buy or change a Marketplace plan without a qualifying life event. For 2027 coverage on HealthCare.gov it opens November 1, 2026 and closes January 15, 2027, as CMS confirmed in a July 31, 2026 statement. Inside that window, the date that matters most is December 15. Choose a plan by then and coverage starts January 1; choose between December 16 and January 15 and it starts February 1, which leaves a month uncovered if your current plan ends on December 31 (HealthCare.gov dates and deadlines).

The schedule almost changed. A 2025 federal rule would have ended open enrollment on December 15 starting with 2027 coverage. A federal court in Maryland vacated that provision in June 2026 in City of Columbus v. Kennedy, and CMS then confirmed the November 1 to January 15 window for the 2027 plan year while the government appeals. State-run marketplaces set their own dates, and some close later than January 15, so check your state's site if you don't use HealthCare.gov.

Two things happen before November 1. Insurers mail renewal notices with your 2027 premium, and HealthCare.gov usually lets you preview 2027 plans and prices in the last days of October. If you do nothing at all, most current enrollees are re-enrolled automatically in the same plan or a similar one from the same insurer. That is convenient and risky at the same time: the new year can bring a different premium, a different network and a credit calculated from outdated income.

Why 2027 Costs More Than 2025 Did

From 2021 through 2025, enhanced premium tax credits capped what anyone paid for the benchmark plan at 8.5% of income, and households at the lower end paid nothing for it. Those credits expired on December 31, 2025. For 2027 coverage the original formula applies, indexed by the IRS: expected contributions run from 2.15% to 10.22% of household income (IRS Rev. Proc. 2026-26), up from 2.10% to 9.96% in 2026, and nobody above 400% of the poverty line gets a credit.

The change lands hardest on middle-income and older households. A couple earning a little over $86,560 paid at most 8.5% of their income for the benchmark plan in 2025. For 2027 they pay the full premium, and for people in their late 50s and early 60s unsubsidized premiums often run well past $1,000 a month. Many insurers also filed rate increases for 2027, so your renewal notice is the place to find your own number.

How the Premium Tax Credit Is Calculated

The credit is built from two numbers. The first is the benchmark premium: the cost of the second-lowest-cost silver plan available to your household. The second is your expected contribution, a percentage of your household's modified adjusted gross income (MAGI) that depends on where that income falls relative to the federal poverty line. The credit is the difference. You can have it paid to your insurer each month or claim it when you file, and it can't exceed the premium of the plan you choose.

For 2027 coverage, the poverty line comes from the 2026 HHS guidelines: $15,960 for one person, plus $5,680 for each additional person in the 48 contiguous states and DC (Federal Register). Alaska and Hawaii use higher figures. This table shows the income at each threshold:

Most households fall between two columns. Inside each band the percentage rises in a straight line, so a couple at 225% of the poverty line pays a little more of its income than one at 200%. Here is what a household at each point is expected to pay for the benchmark plan each month:

Pick a cheaper plan than the benchmark and you pay less than these amounts; pick a richer one and you pay more, because the credit itself is a fixed dollar figure.

The 400% Cliff

At 400% of the poverty line, $63,840 for a single person, $86,560 for a couple and $132,000 for a family of four, the credit stops completely. There is no phase-out. In Alaska the line for a couple is $108,200 and in Hawaii $99,560. And because the 2025 tax law removed the cap on repaying excess advance credits for tax years after 2025 (P.L. 119-21, §71305), a household that takes advance credits all year and finishes a few dollars over the line repays every dollar of them on its tax return.

That makes income near the line worth managing; our guide to the ACA subsidy cliff covers every lever and the repayment math. MAGI for the credit is your adjusted gross income plus tax-exempt interest, the untaxed part of Social Security benefits and any excluded foreign income. The levers are the ones that lower AGI: traditional 401(k) or IRA contributions, HSA contributions (bronze plans now qualify) and, for the self-employed, the timing of invoices and business expenses. A large capital gain, a Roth conversion or a year-end bonus can push a household over without anyone noticing until tax time.

Worked Example

Metal-Level Math

Marketplace plans come in four metal levels that differ in how costs are split, not in the care they cover. On average, bronze plans pay about 60% of covered costs, silver 70%, gold 80% and platinum 90% (HealthCare.gov plan categories). Lower premiums come with higher deductibles and copays. Four rules drive the math for 2027:

• The credit is a fixed dollar amount. It is set by the benchmark silver plan, so it is worth the same on bronze, silver, gold or platinum. For some households it covers the whole premium of a bronze plan.
• Silver is special below 250% of poverty. Households with income from 100% to 250% of the poverty line, $21,640 to $54,100 for a couple, qualify for cost-sharing reductions that lower deductibles and copays, but only on silver plans (HealthCare.gov). At the lowest incomes, a cost-sharing silver plan covers about 94% of costs, more than platinum.
• Bronze now works with an HSA. Since 2026, bronze and catastrophic Marketplace plans count as HSA-eligible coverage. For 2027 you can contribute up to $4,500 for self-only coverage or $9,000 for family coverage, plus $1,000 if you are 55 or older, deduct it and lower the MAGI your credit is based on. Our guide to the HSA as a retirement account covers the long-term side.
• Catastrophic plans are the exception. They are open to people under 30 or with a hardship exemption, and the premium tax credit can't be used for them.

Compare total cost, not premium alone: add a year of premiums to the deductible and the out-of-pocket maximum you could realistically reach. For a household expecting heavy medical use, a gold plan's higher premium can be the cheaper choice overall. If the vocabulary is new, start with our health insurance basics.

Premium-Change Triage

Your renewal notice lists your 2027 premium after the credit. Put it through four questions before you accept it:

1. Did your plan's price rise more than the benchmark's? Your credit moves with the benchmark. If your plan went up faster, a similar plan from another insurer may now cost less after the credit.
2. Is your income estimate current? A notice built on last year's income can show the wrong credit in either direction. Update the application before you compare plans.
3. Are your doctors, hospitals and prescriptions still covered? Networks and drug lists change every year, even when the plan name stays the same.
4. Did the deductible or out-of-pocket maximum move? A small premium change can hide a large change in what you pay when you use care.

If any answer is yes, shop before December 15 so the new plan starts January 1. The Numbers Desk 2027 open enrollment preview explains the new subsidy math in brief.

Estimate Income Carefully

The advance credit is an estimate, settled on Form 8962 with your tax return. Estimate too high and you get the difference back at tax time; estimate too low and you repay the excess, now without a cap. For 2027 that makes a realistic, slightly conservative estimate the safer choice, especially for the self-employed, commission earners and anyone expecting a bonus, investment gains or a Roth conversion.

Report changes during the year, such as a new job, a raise, a lost job, a marriage or a new child, to the Marketplace within 30 days so the monthly credit is adjusted (HealthCare.gov: reporting changes). If you would rather avoid repayment risk altogether, you can take a smaller advance credit, or none, and claim what you are owed when you file.

What Changed for 2027

The Money Checklist

1. October: open your renewal notice and write down your 2027 premium, deductible and out-of-pocket maximum.
2. Before November 1: gather last year's tax return and a realistic 2027 income estimate for everyone in your tax household.
3. From November 1: log in, update income and household details, then compare plans using your updated credit.
4. Check the cliff: if your estimate is near 400% of the poverty line ($86,560 for a couple), decide now how you will keep MAGI under it.
5. Below 250% of poverty: compare silver plans first for cost-sharing reductions.
6. Check networks and prescriptions for every plan on your shortlist.
7. Price the whole year: premiums plus the deductible and the out-of-pocket maximum you might hit.
8. Choosing bronze? Open or fund an HSA, up to $4,500 self-only or $9,000 family for 2027.
9. By December 15: pick your plan for coverage starting January 1, then pay the first premium by your insurer's due date.
10. By January 15: the last day on HealthCare.gov, with coverage from February 1.
11. During 2027: report income and household changes within 30 days.

Turning 65 soon or helping a parent? Medicare runs on a different calendar; our Medicare Open Enrollment 2027 checklist covers October 15 to December 7.

Frequently Asked Questions