WASHINGTON, D.C. — An astounding 21.3 million Americans have rushed to embrace the Affordable Care Act (ACA) Marketplace coverage during the 2024 Open Enrollment Period, marking a historic achievement. This traction includes over five million new enrollees and 16 million individuals who renewed their coverage. Demonstrating a marked growth in the call for quality and affordable health insurance, enrollment numbers soared, exceeding the previous year’s tally by nearly 5 million.
The meteoric rise in ACA enrollment was championed by HHS Secretary Xavier Becerra, who underscored the ACA’s growing role as a vital federal program, on par with Medicare, Medicaid, and Social Security. The ACA has helped secure affordable healthcare for millions of Americans and their families, contributing to a more secure and anxiety-free existence.
This sentiment was echoed by CMS Administrator Chiquita Brooks-LaSure, who lauded the ACA’s delivery of its promise for comprehensive, quality, and affordable health insurance. The ACA Marketplaces have played a significant role in fostering a sense of safety and assurance for millions of Americans who now rest easy knowing they are covered.
The surge in health insurance accessibility and affordability has been powered, in part, by the Inflation Reduction Act (IRA) and the American Rescue Plan. With the IRA in action, 80% of HealthCare.gov customers discovered coverage solutions for $10 or less per month for the 2024 plan year.
To make affordable coverage more accessible, the administration allocated nearly $100 million in Navigator Awards. These awards empowered organizations to deploy trained Navigators — allies who have aided consumers in every Marketplace state to find affordable, comprehensive health coverage.
The enrollment boom also underscored the value of Marketplace coverage for individuals transitioning from Medicaid or the Children’s Health Insurance Program (CHIP). It was reported that, as of the last day of 2023, about 15% of plan selections in states using HealthCare.gov were made by individuals shifting from Medicaid or CHIP coverage.
While the annual Open Enrollment Period has concluded, potential coverage solutions persist. Eligible individuals for Medicaid or CHIP can sign up for coverage at any time during the year. Moreover, a special enrollment period is initialized for those no longer eligible for Medicaid or CHIP, as well as for individuals with household incomes below 150% of the federal poverty level.
The Biden-Harris Administration is urging consumers to explore HealthCare.gov, estimating that nine out of ten customers will qualify for savings due to ongoing provisions in the Inflation Reduction Act.
In sum, the record enrollment numbers for ACA Marketplace coverage exhibit an escalating demand for comprehensive, quality, and affordable health insurance. The ACA remains an indispensable federal program for all individuals and families.
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