Many of us could be leaving this important task too late

Financial expert Martin Lewis has advised Brits not to overlook a crucial step when arranging their holidays. And he said missing this from your list before a holiday could even result in you losing thousands of pounds.

Martin Lewis, through his Money Saving Expert website, has cautioned that travellers must arrange travel insurance immediately upon making their booking. Delaying this essential step could leave you in financial difficulty should problems arise before departure.

MSE began by stating: “Booked but not got travel insurance yet? Do it now! Martin’s been yelling ‘get travel insurance ASAB’ (As Soon As you Book) for years.

“Yet still too many excitedly book their holiday, then leave insurance till the last minute. That’s a mistake – half the cover’s value is protecting you before you go, in case something stops you going. So if you’ve booked and not got cover, do it right now!”

Drawing from personal encounters, Martin said: “Every year, a few people contact me after something awful, such as a cancer diagnosis that needs chemo, but the airline or hotel won’t refund them (they don’t have to). I tell them: ‘That’s what insurance is for, speak to your insurer.’

“But if they haven’t got it yet, no matter how horrid the circumstances, there’s nothing that can be done. Don’t be that person.”

Where to obtain travel insurance

MSE specialists have highlighted some of the most cost-effective travel insurance alternatives that hold Financial Conduct Authority regulation. For those travelling overseas twice annually or more, they suggest securing an annual policy.

MSE advised: “If you’ll go abroad at least twice a year, even just for weekends, annual cover usually works out cheapest. It covers virtually all trips away, though often has a duration limit of a max 30 days per trip (you can oft pay more to extend this). The exact price depends on age and circumstances, so we give the four cheapest options – check at least a couple.”

For those under age 66 they recommended checking policies from:

• Coverwise
• Admiral (use discount code MSE15)
• Leisure Guard Flexi
• Urban Jungle

For over-65s they recommended:

• Admiral (use discount code MSE15)
• Urban Jungle
• Leisure Guard Flexi
• Saga

If you’re only going away once in a year it’s probably best to get single-trip insurance. “For those who just want to cover one trip (or may need specialist cover for it), enter the dates you’re travelling, even if months ahead, and you’ll be covered for cancellation from the moment you pay,” MSE said.

For those under age 66 they recommended looking at:

• Coverwise
• A to Z Insurance
• Admiral (use discount code MSE15)
• Leisure Guard Flexi

For over-65s they recommended:

• A to Z Insurance
• Admiral (use discount code MSE15)
• Leisure Guard Flexi
• Coverwise

You must remember that if you have, or have ever had, a physical or mental health condition, you’ll usually need to declare it to the travel insurer. In some cases, it changes nothing.

To compare travel insurance options you can use the MSE cheap travel insurance finder tool here.

For the millions of Texans who get their health insurance on the marketplace, coverage is likely to get a lot pricier next year.

In 2026, marketplace enrollees will likely face a dual hit, from the expected expiration of federal subsidies and insurers’ forecasts of higher premiums.

Texas already has the highest uninsured rate in the country, and higher marketplace costs could push more people to forego coverage.

“Most enrollees are going to be facing a double whammy of both higher insurance bills … but also the loss of the subsidies that lower much of that cost to them,” said Matt McGough, a policy analyst at KFF.

Marketplace plans are the health coverage options that people can purchase for themselves and their families under the Affordable Care Act. Nearly 4 million Texans enrolled in such plans for this year.

Expiration of subsidies

The larger cost hit is likely to come from a change in federal policy.

Many marketplace enrollees are currently eligible for enhanced federal subsidies to help pay for their marketplace plans. The enhanced subsidies, which give more funding to low-income enrollees and also expand eligibility to more middle-income enrollees, were originally added in 2021.

Last year, according to data from KFF, Texans received more than $1.5 billion from those enhanced subsidies.

However, the enhanced subsidies expire at the end of the year, and U.S. lawmakers have not moved to renew them. If they expire, marketplace enrollees would have to pay their existing premiums plus any cost previously covered by the federal government.

For Texans receiving subsidies for marketplace plans, removing enhanced funding would lead to the average premium payment more than doubling.

For those Texans, according to KFF, the average annual premium in 2024 was just shy of $400. Without enhanced subsidies, the annual premium cost would be about $850.

Tom Banning, the CEO of the Texas Academy of Family Physicians, said in an email that the federal subsidies have so far protected Texans from the rising price of individual health insurance.

“But with those credits set to expire at the end of 2025,” Banning wrote, “Texans who buy their own coverage … are about to get financially crushed.”

Rising premiums

The anticipated expiration of the subsidies is also part of the calculation for marketplace insurers themselves.

Marketplace insurers are requesting the largest premium increases since 2018. That’s according to an analysis posted last week by the Peterson Center on Healthcare and KFF, which pulled data from 19 states, including Texas, plus Washington, D.C.

Across the available data, which is preliminary and subject to change, the 2026 premiums are forecast to increase by a median 15%. Blue Cross and Blue Shield of Texas proposed a rate increase of 21%, according to McGough at KFF.

The projected increases are partly an indication of insurers’ uncertainty, McGough said, as they face federal changes they’ve never dealt with before.

To explain the anticipated rate increases, individual insurers pointed to factors such as rising health care costs, including the added costs of GLP-1s, and tariffs.

But the expiration of the enhanced federal subsidies will make a significant dent, too. Insurers predict that enrollees who skew healthier may drop their plans if the subsidies expire — meaning the insurers would then raise premiums for the remaining enrollees.

Banning said in an email that enough dropouts could trigger a “death spiral” for marketplace insurance, with ever-rising prices leading to ever-increasing dropouts.

Low-income Texans would be especially hard-hit by subsidies expiring and premiums increasing. If Texans do forego marketplace coverage as a result, they may join the ranks of the uninsured, who are more likely to delay medical care and more likely to die from health issues.