Virginia launched a $150 million program to reduce health insurance premiums for residents purchasing coverage through the state's marketplace, Governor Abigail Spanberger announced.
The Virginia Premium Savings program, created by the governor and state legislature, was designed to lower premiums by up to 70 percent but initial estimates show some residents will see decreases exceeding 90 percent. More than 50,000 Virginians could qualify for a $0 monthly premium under the initiative.
The program follows a sharp decline in state marketplace enrollment. Spanberger said Virginia's Insurance Marketplace lost nearly 100,000 enrollees in 2026, with rising monthly premiums cited as the primary driver.
Spanning 200,000 potential beneficiaries, the program aims to offset the expiration of federal tax credits that had made marketplace coverage more affordable, according to Spanberger. "At a time when Washington has turned its back on working families, the Commonwealth of Virginia is stepping up," she said.
Virginia's marketplace open enrollment period runs from November 1, 2026, through January 29, 2027. In Norfolk, more than 55 percent of residents using the marketplace will be eligible for savings. Residents can begin comparing plans and checking eligibility at marketplace.virginia.gov.