Obamacare Marketplaces Report A Record Number Of Sign-Ups – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Top Stories
Topics
    • Life Insurance
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Content
    • Webinars
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
  • Insider
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Health Insurance Newsletter
Top Stories RSS Get our newsletter
Order Prints
December 23, 2021 Top Stories No comments
Share
Share
Tweet
Email

Obamacare Marketplaces Report A Record Number Of Sign-Ups

Health & Human Services Secretary Xavier Becerra says Obamacare is still popular with Americans.
Sacramento Bee (CA)

U.S. Health & Human Services Secretary Xavier Becerra announced Wednesday that a record 13.6 million Americans have signed up for health care coverage through insurance exchanges launched during the Obama Administration.

"Health coverage is more affordable than ever before," said Chiquita Brooks-LaSure, administrator for the Centers for Medicare & Medicaid Services, "and the great news is that people still have (time) ... to sign up. The pandemic has made the need for health care coverage clear, and the Biden-Harris administration has put it in reach of millions of people who were previously did not have that peace of mind."

On Mar. 11, President Biden signed an economic relief bill called the American Rescue Plan Act that increased the premium subsidies U.S. citizens can receive and expanded the number of people who can get assistance by raising income ceilings. The law essentially caps what most consumers will have to pay at 8.5% of their household income, according to Covered California.

More than 4.6 million Americans have gained health care coverage since Biden took office, Becerra noted in a Wednesday morning teleconference with media.

All those who have signed up so far will have insurance starting Jan. 1, but so will anyone else who signs up for coverage by Dec. 31. In California, consumers can go to www.coveredca.com or call (800) 300-1506 to apply for coverage, find an agent who will meet them in person, or see how much a policy will cost.

If people don't get signed up during the busy holiday season, Becerra said, they still will be able to do so through Jan. 15. That's because the Biden-Harris administration extended the deadline for the federal insurance marketplace. Covered California, which is a state-based marketplace, will continue its open enrollment through Jan. 31. Any policies started in January will begin coverage on Feb. 1.

More than 100,000 Sacramento-area residents — and 1.1 million California residents — don't have health insurance, and the majority of them qualify for financial assistance that would allow them to get covered without having to pay one dime, according to Covered California.

"New coverage options give many Californians access to quality care that can help them stay out of the emergency room or hospital," said Peter V. Lee, executive director of Covered California," "and if you do end up needing care, this newly affordable health insurance can protect you and your family from medical bills that can be staggering."

Lee's team found that, during 2019 and 2020, more than 95% of Covered California enrollees paid as little as $375 out of pocket, on average, for emergency room visits. Hospitals had charged an average $8,000 for those visits. One in 10 Covered California members visited an ER during that period.

When it comes to hospital admissions, fewer than 3% of enrollees were admitted for care, according to Covered California data, but those who were paid an average of $2,700 out of pocket on hospital charges that averaged $43,000. Insurance picked up well over 90 percent of the expenses.

Coverage matters, Lee said, and these data show just how much financial protection insurers are providing through the comprehensive plans offered on the Covered California marketplace.

"No one wants to end up in an emergency room or hospital, but if you do, a quality health insurance plan through Covered California can save you tens of thousands of dollars," Lee said. "In addition, having health insurance means you are more likely to get preventive care and regular treatment for chronic conditions, which helps keep you out of the hospital in the first place."

Covered California pointed to a recent study from the Kaiser Family Foundation, in which two out of every five uninsured adults reported not having seen a doctor or health care professional over the last 12 months. Nearly one in every three individuals surveyed said they either postponed care or went without it because of cost.

"Regardless of where you live, how much you make, what language you speak or what community you're from, Covered California wants you to get the care you need to stay healthy," said Dr. Alice Hm Chen, chief medical officer for the state marketplace. "Covered California plans provide access to some of the best doctors and hospitals across the state and include coverage for both physical and mental health care."

___

(c)2021 The Sacramento Bee (Sacramento, Calif.)

Visit The Sacramento Bee (Sacramento, Calif.) at www.sacbee.com

Distributed by Tribune Content Agency, LLC.

Older

Hallmark Financial Announces Decision to Discontinue Pursuit of IPO to Separate Specialty Commercial Business

Newer

RELIANCE GLOBAL GROUP, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement

Advisor News

  • Fidelity: retirement savers look long term, continue to save despite headwinds
  • Sometimes debt could be a helpful tool
  • Debt consolidation becomes more attractive
  • 31% of retirees say continued inflation would motivate them to rejoin the workforce
  • Inflation Reduction Act may have little impact on inflation
More Advisor News

Annuity News

  • Global Atlantic announces $10B group annuity reinsurance deal with Equitable
  • Colorado adopts new annuity sales regulations
  • National Western Life introduces new fixed indexed annuity, NWL New Frontiers
  • Jackson National announces second quarter 2022 results
  • Brighthouse Financial adds to Shield Level annuity suite with new product
More Annuity News

Health/Employee Benefits News

  • America’s Essential Hospitals praise new law, urge more funding
  • Retired teachers oppose $9M in STRS Ohio pension staff bonuses
  • Higher out-of-pocket patient bills are hitting hospitals hard
  • Best’s Commentary: Inflation Reduction Act will benefit U.S. health insurers
  • Virginia Obamacare rates set to fall next year
More Health/Employee Benefits News

Life Insurance

  • Sammons names Tyler Brown new government affairs director
  • Alex Murdaugh petitions to delay Mallory Beach trial amid murder charges
  • Sales of life combination products rebound in 2021, LIMRA reports
  • Integrity Marketing Group acquires Richman Insurance Agency
  • How to get the most out of Life Insurance Awareness Month
More Life Insurance

- Presented By -

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

FEATURED OFFERS

Get Linked INN to your industry Connect with INN on LinkedIn to be first on all the news and insights that matter to your industry.

Press ReleasesAll press releases

  • Ibexis Life & Annuity Insurance Company Launches Innovative Fixed Annuity
  • National Western Life introduces newest fixed indexed annuity, NWL® New Frontiers
  • CybeReady Supports Security Defenses with CISO Toolkit
  • Life and Disability Income Insurance Products from MassMutual Now Available on iPipeline®’s End-to-End Digital Platform
  • Business on the Go with The Crump Mobile App
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Content
  • Webinars
  • Monthly Focus

Top Sections

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2022 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.