Business Insider/CNNMoney The Trump administration has proposed capping health insurance premiums for children under age 26, raising the ceiling on how much they pay for insurance coverage.

The proposal was released Monday, the day before the first full day of the federal open enrollment period.

It would require all states to set minimum premiums for families with young children of $1,350 per month and an additional $500 per month for families under age 18.

That would raise the minimum rate to $2,400 for families and $2.50 for younger children.

The $1 million per child cap, introduced in 2013, is the largest cap in the country.

The Trump administration estimates that about 8 million children and their families will enroll this year.

That’s roughly the same number that applied for the Obamacare subsidy program, which covers about 80 percent of premiums for many families.

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