Question about ACA subsidies [View all]

I am trying to understand the issues surrounding the ACA subsidies that Democrats are trying to retain/restore. Primarily how it is impacting me.

Open Enrollment began on November 1st with a deadline of December 15th (according to the emails I am receiving from the exchange). Are the rates currently listed on the exchange are the result of the subsidies not being renewed. In other words, if they decide to restore the subsidies will the rates drop immediately?

For instance, for most of 2025 I have been paying $89 a month for an Aetna plan. About 6 months ago Aetna announced they would not be offering individual plans in 2026 and I would need to find another company/plan. I hadn't started searching yet and received notice that I was automatically rolled into a Blue Cross plan for 2026. My new rate is a whisper shy of $400 a month beginning January 1st. Or, of course, I can still find something else and decline on the plan they chose for me.

Now my question is.....is rate so much greater because of the expiration of the subsidies? In theory, if an agreement is made to extend the subsidies will the rates go down immediately? Should I wait until Democrats prevail to start comparing price/plans? Or, will whatever happens in the negotiations not have any bearing on plans being sold during open enrollment?

Thank you in advance for any insight on the implications.