Virginia will cut average 2027 Marketplace premiums by up to 70%

If you are eligible to enroll in a qualifying plan through Virginia’s Insurance Marketplace, have no other minimum essential coverage, and your household earns between 138% and 250% of the federal poverty level, the state can pay part of your 2027 premium. That’s about $22,000 to $40,000 a year for one person, or $45,500 to $82,500 for a family of four.

Virginia Premium Savings is designed to cut the average monthly net premium for eligible customers by as much as 70%. State officials estimate savings of $65 to $90 per person each month, and more than 50,000 people could qualify for a $0 monthly premium before deductibles and copays. You do not fill out a separate form: eligibility is determined when you enroll, and the savings appear automatically. Funding is first-come, first-served. Open enrollment runs from November 1, 2026 to January 29, 2027.

Enhanced federal premium tax credits expired at the end of 2025. In 2026, what Virginia Marketplace customers paid after subsidies rose 75% on average, and the Marketplace lost nearly 100,000 enrollees. Gov. Abigail Spanberger proposed targeted state assistance in January. The House backed $79.1 million and the Senate $200 million; budget chairs Louise Lucas and Luke Torian led negotiations that produced the final $150 million appropriation from the general fund. The General Assembly adopted the final budget June 29. The money covers 2027 plans only.