Record High of 16.3 Million People Signed Up for Health Coverage on ACA Marketplace
The Biden-Harris administration recently announced that a record-breaking 16.3 million people selected an Affordable Care Act (ACA) marketplace health plan during the 2023 open enrollment period. Among the 16.3 million enrollees, 3.6 million were new to the ACA marketplace. The final enrollment figures are expected to increase as sign-up continues through the end of January in several states.
This is the second year in a row enrollment in the ACA marketplace has set a record. This year’s 16.3 million enrollees surpassed 2022’s number by 1.8 million, representing a 13% increase. Approximately 78% of 2023’s enrollees had health coverage in 2022 and selected a health plan for 2023 or were automatically reenrolled. Additionally, there’s been approximately a 50% increase in the number of people signed up for health care through HealthCare.gov.
The U.S. Department of Health and Human Services (HHS) reported that 92% of 2023’s enrollees had three or more insurance plan options when selecting plans. HHS officials also stated that the recently enacted Inflation Reduction Act allowed more individuals to qualify for health coverage this year with expanded financial assistance, resulting in 4 out of 5 enrollees returning to HealthCare.gov finding a plan for $10 or less after tax credits.
“On the 10th anniversary of the ACA [m]arketplaces, the numbers speak for themselves: More people signed up for plans this year than ever before, and the uninsured rate is at an all-time low.”
-Centers for Medicare and Medicaid Services Administrator Chiquita Brooks-LaSure
Employer Takeaway
The Biden-Harris administration has prioritized expanding access to health coverage and lowering health care costs, helping to drive the United States’ uninsured rate to an all-time low. Recent legislation, including the American Rescue Plan and the Inflation Reduction Act, has helped keep health coverage accessible and affordable for many Americans by increasing ACA premium tax credits and expanding eligibility for subsidies.
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