In health insurance markets across the country, the most popular, least expensive plan in 2015 will not be offered next year, meaning many people will not be able to renew a plan they're happy with, according to The New York Times.
In 89 of the 499 markets selling health plans under the Affordable Care Act, the insurance companies that offered the most inexpensive deal in the "silver" category in 2015 will discontinue those plans in 2016, according to analysis from the McKinsey Center for the U.S. Health System Reform.
However, these numbers may even be an underestimate, because McKinsey only examined the larger market areas that insurance companies use to set their rates, not individual counties, according to NYT.
The reason behind most of these exits is failed insurance co-ops, while other insurers decided to pull out of certain markets, NYT reported. People in these plans must go back into the marketplace and find a new one for the upcoming year. At the same time, McKinsey research finds that 80 percent of federal marketplace shoppers could experience significant savings on premiums if they shop around and switch plans.