White House praises record enrollment in Affordable Care Act Marketplace health plans - Insurance News | InsuranceNewsNet

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January 25, 2023 Newswires
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White House praises record enrollment in Affordable Care Act Marketplace health plans

UPI Health News (Business)

The Biden administration has announced that more than 16.3 million people have chosen an Affordable Care Act Marketplace health plan during the enrollment period between Nov. 1 and Jan. 15. The enrollment is the largest since the Affordable Care Act Marketplace was created.

"This year, the 10th year of ACA Open Enrollment, more Americans signed up for high-quality, affordable health insurance through the ACA Marketplaces than ever before," reads a press release from the Department of Health and Human Services Wednesday.

Among the 16.3 million enrollees, 3.6 million are new to the marketplace.

"On the tenth anniversary of the ACA Marketplaces, 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," said Centers for Medicare and Medicaid Services Administrator Chiquita Brooks-LaSure.

According to the the Department of Health and Human Services, 92% of enrollees had access to options for three or more insurance plans when selecting their own plan.

Also, HHS officials said the Inflation Reduction Act has meant that more people this year continue to qualify for help, and four out of five people returning to HealthCare.gov are able to find a plan for $10 or less after tax credits.

In 2022, the number of uninsured people in America reached a historic low.

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