TL/DR –
The Biden-Harris Administration reported that the ACA Marketplace enrollment for healthcare coverage is at a record-breaking pace with over 19 million consumers projected to enroll for 2024 coverage, a rise of 7 million since President Biden’s inauguration. The Inflation Reduction Act and the American Rescue Plan are cited as measures to keep Marketplace coverage affordable with nine out of 10 customers expected to be eligible for savings. The administration is encouraging everyone who needs health insurance to visit HealthCare.gov and sign up for coverage by the January 16 deadline and has proposed further measures to expand access to robust, affordable health coverage for 2025.
Biden-Harris administration highlights ACA Marketplace enrollment
HealthCare.gov is now open for those in need of affordable, quality health insurance before the January 16 deadline.
Preliminary data reveals record-breaking Affordable Care Act (ACA) Marketplace enrollment with over 19 million consumers anticipated to enroll for 2024 coverage. This represents a significant increase of 7 million more compared to the start of President Biden’s tenure.
Access to affordable healthcare for millions
Secretary Xavier Becerra highlights the benefits of ACA, making it possible for more Americans to afford medical care without breaking the bank. The Biden-Harris administration remains dedicated to expanding healthcare coverage and reducing prescription drug costs.
ACA has seen an impressive 33% increase in Health Insurance Marketplace enrollments via HealthCare.gov compared to last year, Administrator Chiquita Brooks-LaSure points out. The Marketplace continues to provide much-needed access to healthcare for American families and individuals.
Expanding access to health insurance
With measures like the Inflation Reduction Act and the American Rescue Plan, the administration makes affordable healthcare coverage a priority. Consumers are encouraged to visit HealthCare.gov to explore their coverage options and potential savings. Nine out of 10 customers are expected to be eligible for savings.
Many are eligible for Medicaid and the Children’s Health Insurance Program (CHIP). Those who are not can check HealthCare.gov for low-cost, quality health plans.
Enjoying a competitive Marketplace
Over 90% of HealthCare.gov enrollees will have three or more plans to choose from. Standardized plans are now available for easier comparison. Meanwhile, the Marketplace Open Enrollment Period runs from November 1 to January 16, with coverage starting on February 1, 2024.
Expansion of ACA Marketplace coverage
With the growing enrollment, ACA Marketplace coverage keeps evolving. 2024 coverage includes important changes such as more choices, improved shopping tools, and enhanced health equity. Additionally, proposed measures are in place to expand access to more comprehensive, affordable health coverage options for 2025.
Expect the next nationwide plan selection snapshot, including state-specific information, on January 10, 2024.
—
Read More US Economic News