Virginia Premium Savings | Frequently Asked Questions

What to Know About Virginia Premium Savings for Plan Year 2027  

Virginia’s Insurance Marketplace has new savings available for 2027.   

Learn more about how the Virginia Premium Savings program can help your household save on high-quality health coverage. Below are commonly asked questions about program eligibility and enrollment. This page will be updated.  

  • Virginia lawmakers created the Virginia Premium Savings program to lower monthly health insurance premiums for qualifying Virginians. The program will help consumers save on Plan Year 2027 coverage purchased via Virginia’s Insurance Marketplace.  

  • Eligibility is determined based on your household size and income. In addition, you must:  

    • reside in Virginia 
    • enroll in a Qualified Health Plan (excluding catastrophic plans) through Virginia's Insurance Marketplace 
    • be a U.S. citizen or lawfully present non-citizen who is eligible to enroll in Marketplace coverage 
    • not be incarcerated 
    • not be enrolled in or eligible for other minimum essential coverage.  

  • The program is available for consumers with household incomes between 138% and 250% of the federal poverty level. That’s between $22,025 and $39,900 for an individual or $45,540 and $82,500 for a family of four.  

  • Your eligibility for Virginia Premium Savings will be determined when you enroll in 2027 coverage through the Marketplace. If you qualify, the savings will be applied to your monthly premium cost.  

  • Your monthly savings will be shared with you during the application process. You can compare how your savings reduces each plan’s cost before finalizing your enrollment.  

  • You can use Virginia Premium Savings to buy comprehensive health coverage through the Marketplace.  The program applies to qualified health plan premiums only. The savings cannot be used on catastrophic plans or stand-alone dental plans.  

  • No. Consumers who qualify for the program can enroll in any health plan offered by the Marketplace that best fits their household’s needs. 

  • Yes. Virginia Premium Savings will supplement federal Advance Premium Tax Credits. Consumers will be required to use the full amount of APTC that their household qualifies for first. Virginia Premium Savings will then be applied to their monthly premium. 

  • Consumers who are eligible to receive Advance Premium Tax Credits must do so to receive Virginia Premium Savings. However, if you are ineligible for APTCs, you may still qualify for Virginia Premium Savings. 

  • No. Virginia Premium Savings will not affect your eligibility for Advance Premium Tax Credits. 

  • No. The program is available for qualifying Virginians who enroll for Plan Year 2027. However, the savings are available on a first-come, first-served basis. The best way to secure your savings is to choose a plan during Open Enrollment, beginning on Nov. 1. 

  • Lawmakers funded the program for Plan Year 2027. 

  • No. Your savings will be applied to your new plan if you still meet eligibility requirements. 

  • The Marketplace is designing the program to maximize savings for as many Virginians as possible in 2027.  

  • Funding for the program was not included in the budget in time for Plan Year 2026. Lawmakers added it to the budget for Plan Year 2027.  

  • To qualify for Virginia Premium Savings, a consumer must be a U.S. citizen, National or “lawfully present non-Citizen” of the U.S. 

  • No, Virginia Premium Savings is not a tax credit and is not reportable on your state tax return.