As Obamacare premiums climb, some plan to drop their health insurance and go uninsured

Faced with rising ACA premiums as subsidies expire, some Americans say they plan to drop their coverage and instead put the money into savings accounts.

Ginny Murray says she and her husband, Chaz, are out of options for health insurance. In January, their premiums are expected to rise higher than they’ve ever gone up before, putting the cost out of reach.

The Arkansas couple plan to drop their coverage, betting their savings will be enough if unexpected illness strikes.

“Our plan is to keep putting the money we’re already paying towards health care in savings,” said Murray, whose insurance is covered through the Affordable Care Act, “and really just hoping that we don’t have a stroke or we don’t have a heart attack.”

They’re part of a broader shift taking shape as enhanced subsidies for ACA premiums are set to expire at the end of the year. Without them, many Americans could see their monthly premiums double or even triple next year, a spike that’s forcing people to rethink what they can afford — or whether health insurance is even worth it.

Next year will be the biggest premium increase since the ACA took effect, said Art Caplan, the head of the medical ethics division at NYU Grossman School of Medicine in New York City.