Nearly 16M Americans sign up for ACA plans so far

With only a few days left to sign up for health insurance in the Affordable Care Act marketplace, nearly 16 million Americans have enrolled in coverage – a 13% jump from the previous year – the U.S. Department of Health and Human Services reported. That figure surpasses the record 14.5 million who signed up for coverage for 2022.

Open enrollment for 2023 began Nov. 1, 2022, and ends on Sunday.

HHS said about 3.1 million who signed up for coverage are new enrollees.

One reason behind the high number of new enrollees is the expansion of tax credits to enable more people to be eligible for low-cost or no-cost premiums on ACA plans. The American Rescue Plan Act of 2021 increased the premium tax credits for purchasing ACA insurance coverage, making it easier for people to obtain coverage. In August, Congressed passed the American Rescue Plan, which continues those subsidies through 2025.

Ninety-two percent of those who enroll through HealthCare.gov will have access to options from three or more insurance companies when they shop for plans. Also, new standardized plan options are available in 2023 through HealthCare.gov, which help consumers compare and select plans.

This marks the 10th open enrollment season since the ACA took effect in 2013.