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If you’re one of the 22 million Americans who have subsidized health insurance through an Affordable Care Act plan, it’s hard to know what to do right now.

With just a few days left to choose coverage for 2026, Congress is still debating whether to let the COVID-era subsidies (aka enhanced premium tax credits) expire this year. Without them, average premium costs for those affected would more than double to $1,904, according to estimates from KFF, a nonprofit health policy firm.

It’s a bizarre limbo that can make planning ahead feel impossible, especially for the roughly 1.5 million people who stand to lose all tax credits because their households earn over 400% of the federal poverty level (aka the “subsidy cliff.”)

But there are a few things you can count on for next year, and with all the will-they-won’t-they headlines about extending the subsidies, you may have missed these other changes:

1) If you’re no longer eligible for subsidies because you’re over the 400% of poverty level, it’s probably going to count as a “hardship exemption,” meaning you’ll automatically qualify for a bare-bones catastrophic coverage plan — if there’s one available in your area. Catastrophic plans have lower premiums than other plans, but high deductibles. They are mainly meant to protect you if something serious happens.

2) The government is expanding access to tax-advantaged Health Savings Accounts (HSAs), which are powerful and underrated financial tools. A companion to a high-deductible plan, an HSA lets you use pretax money for eligible health expenses, so your out-of-pocket costs are automatically lower. (E.g. if you would otherwise pay 20 cents of every $1 in taxes, you get to use the full $1, instead of just 80 cents.) And the funds in an HSA never expire (unlike with a Flexible Spending Account,) so you don’t have to worry about wasting money you didn’t end up needing.

For 2026, HSAs are available with more plans, including any catastrophic or Bronze plan (Bronze plans also come with high deductibles but sometimes have even lower premiums than catastrophic plans.) The White House expects as many as 10 million Americans to opt for an HSA.

3) Dec. 15 is the last day to sign up if you want coverage to start Jan. 1, but you can enroll or change your selection until Jan. 15 for coverage effective Feb. 1. That means enrolling now won’t prevent you from changing your plan if the subsidies are extended or your circumstances change. And you will avoid a coverage gap.

(Use this KFF calculator to compare your costs with and without the enhanced tax credits.)

So what?

Most people on an ACA plan could see big increases in their healthcare premiums next year. If costs do end up doubling, one in four ACA enrollees said they’re very likely to go without insurance next year, according to a recent KFF poll.

But that should be a very last resort. Explore all your coverage options first, including whether a no-frills plan with an HSA could work. (Catastrophic plans aren’t available everywhere, but Bronze plans are.) Not only can an HSA help reduce the burden of deductibles, co-pays, or other out-of-pocket costs, but any funds you put in reduce your taxable income. In fact, the tax benefits are worth exploring even if you have an employer-based plan.

Related Reading

ACA Subsidy Cliff: How to Keep Premium Tax Credits (CNBC)

As ACA Deadline Approaches, Some Price-Sensitive Consumers May Consider Switching to Short-Term Plans (KFF)

Worried About Affording a Marketplace Health Plan in 2026? Tips for Shopping Smart During Open Enrollment (Triage Cancer)

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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The annual fee on your premium credit card has jumped to ~$800 or $900, and you have a decision to make.

Premium cards are premium for a reason, offering things like $300-$600 annual travel credits, special airport lounge access, and often, some cachet.

But Chase and American Express raised the fees on two of the most popular elite cards this year — and not by a smidge. The Chase Sapphire Reserve went from $550 to $795, and the Amex Platinum Card jumped from $695 to $895.

So the question is: Are you still getting your money’s worth? (Meaning enough perks you actually use?) And if you’re thinking about getting one of these cards, how do you decide if the price is worth it?

How to decide if the fees are worth it

Premium cards can pay for themselves, and if it’s a card you already have, your statements will tell you a lot. Add up the value of the benefits you got over a year’s time to see if you at least earned your annual fee back.

There’s more guesswork involved if you don’t have the card yet, but you can still estimate what you’ll use. If that subscription to Apple TV/Music, Uber Cash credit or DashPash membership are the draw, add up what you’d pay for those otherwise.

•  Keep in mind: The “card value” touted on an issuer’s website may be in the thousands, but very few cardholders cash in on all those perks, and some are difficult to earn. For example, the $300 dining credit on the Sapphire Reserve can only be used at participating restaurants in certain cities, which could make it useless to people who don’t spend time there.

Beyond the basic math, there are other important considerations. Start with these questions:

Has the card outlived its usefulness? Premium cards tend to have travel-centric perks. If you got the card to score a valuable welcome offer or other bennies for your big trip to Europe, is it still worthwhile a year later? A downgrade may be in order if you don’t have similar trips on the horizon.

Did you carry a balance this year? You want to avoid interest charges on any credit card balance, but they quickly erode the value of a premium card, effectively cancelling out the rewards. Most of us have needed to regain our financial footing at one point or another, but if you can’t afford to pay off your balance in full each month, you’re better off without it.

Do you enjoy playing the rewards game? If you want to milk the value of your card, you have to play the points and perks game. That means remembering to opt in for statement credits, comparing point values across partner airlines and hotels, and scooping up limited-time offers. It can also require paying for different items with different cards (to maximize the rewards.) If these sorts of things give you a headache, go with a card that has a simpler rewards structure and lower fee.

Is status the allure? Part of the draw of premium cards is the exclusivity they bring. You get to be part of a secret metal card club that may feel like it comes with a “backstage pass” to luxury. But 21% of cardholders now carry at least one premium credit card, according to PYMNTS Intelligence. If you think you’d find those airport lounges too overcrowded to be enjoyable, it’s worth reconsidering.

If you’re a new cardholder, will you spend enough to earn the welcome offer? The sign-up bonus is often what tips the value equation for a new cardholder. But securing it requires meeting minimum spending thresholds. To earn 125,000 points with the Sapphire Reserve you must spend $6,000 in the first three months. The Platinum Card requires $8,000 in the first six months. If those amounts sound out of reach, these are not the cards for you.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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