Over 7 Million Americans Secure Coverage in ACA Marketplace During Open Enrollment

Since the 2024 marketplace open enrollment period (OEP) opened on November 1, nearly 7.3 million individuals have selected an Affordable Care Act (ACA) health insurance marketplace plan, according to CMS.

Writing note showing ACA Affordable Care Act. | Artur - stock.adobe.com

This accounts for activity through December 2 (week 5) for the 32 states using HealthCare.gov and through November 25 (week 4) for the 18 states and the District of Columbia with state-based marketplaces (SBMs).

“On top of last year’s record numbers, enrollment for Marketplace health insurance at HealthCare.gov is again exceeding expectations,” HHS Secretary Xavier Becerra said in the statement from CMS. “Health care coverage means peace of mind. It means protection. And now, thanks to the historic Inflation Reduction Act, more Americans than ever can sign up for coverage with lower costs and better benefits.”

The 2024 marketplace OEP runs from November 1, 2023, to January 15, 2024, for states using the HealthCare.gov platform. Individuals who enroll by midnight on December 15 are eligible for full-year coverage beginning January 1, 2024.

Additionally, the total plan selections include more than 1.6 million individuals who are new to the marketplaces for 2024, accounting for 23% of total enrollees. Furthermore, 5.7 million (77%) individuals who had active coverage in 2023 returned to their respective marketplaces to renew their coverage or select a new plan for 2024.

About 6.5 million individuals enrolled through HealthCare.gov marketplaces, including about 1.5 million new consumers and about 5 million returning consumers. A total of 775,199 individuals enrolled using SBMs, including 169,273 new consumers and 605,926 returning consumers.

Florida (n = 1,833,689) and Texas (n = 1,424,675) had the highest cumulative 2024 OEP plan selections for both new and returning consumers through HealthCare.gov platforms. Meanwhile, California accounted for about 1.2 million of the 3.4 million SBM automatic re-enrollee plan selections.

Additionally, New York and Minnesota have a Basic Health Program (BHP), which provides coverage to those with incomes at or below 200% of the Federal Poverty Level who are not eligible for Medicaid or the Children’s Health Insurance Plan (CHIP) and would otherwise be eligible for a Qualified Health Plan (QHP). Although data were not available at the time of the report for Minnesota, New York reported about 1.2 million individuals who enrolled in a BHP.

For those who are no longer eligible for Medicaid or CHIP, CMS encourages individuals to visit HealthCare.gov to see if they’re eligible to enroll in a low-cost QHP.

Furthermore, CMS believes individuals may also benefit from a highly competitive Marketplace, with more than 90% of HealthCare.gov enrollees able to choose from 3 or more plans. These options are also available to consumers with the same out-of-pocket limits as other standardized plans within the same health plan category, allowing for individuals to compare and choose plans more easily. These plans offer many predeductible services, including primary care, generic drugs, preferred brand drugs, urgent care, specialist visits, and mental health and substance use outpatient office visits, as well as speech, occupational, and physical therapies.

“I’m thrilled to see that more than 7 million people have signed up for Marketplace coverage nationwide since open enrollment began,” CMS Administrator Chiquita Brooks-LaSure said in the statement. “The ACA Marketplace continues to grow. The continued increase in enrollment is confirmation that the need for affordable, quality health care coverage is strong.”

Reference

More than 7 million selected affordable health coverage in ACA Marketplace since start of open enrollment period. News release. CMS. December 6, 2023. Accessed December 6, 2023. https://www.cms.gov/newsroom/press-releases/more-7-million-selected-affordable-health-coverage-aca-marketplace-start-open-enrollment-period