Record number of ACA exchange signups as enrollment ends
Although deductibles have increased for private insurance plans, deductibles for ACA coverage have been decreasing year-to-year.
Higher subsidies and improved communication boosted Affordable Care Act signups to a record high when enrollment ended on Saturday.
More than 14.2 million people purchased plans on exchanges. Ten million people signed up for coverage on the federally run HealthCare.gov, and the others enrolled through state-based exchanges. The administration stepped up its efforts this year to make consumers aware of enhanced subsidies and lower cost-sharing passed under the American Rescue Plan Act.
“Dependable health care coverage is in reach at affordable rates,” said Chiquita Brooks-LaSure, administrator of the Centers for Medicare and Medicaid Services. “Thanks to the American Rescue Plan, people don’t have to worry about meeting hefty costs and meeting the deductible.”
A new federal report showed that enhancements passed under the act have affected cost-sharing as well as premiums. Deductibles for new consumers enrolling during the 2021 special enrollment period, which ended last August, fell from $450 to $50 after the plan’s premium enhancements went into effect last April.
Although deductibles have increased for private insurance plans over the past decade, deductibles for ACA coverage have been decreasing year-to-year over the past five years. However, the increased subsidies are going to expire after the 2022 coverage year unless Congress acts. The Build Back Better Act, which proposed extending them again for several years, remains stalled in Congress.
The administration made a major push to increase funding for outreach and marketing for the ACA’s open enrollment, including a massive boost to navigators who assist consumers with enrollment options. The administration last year also reopened open enrollment through August in a bid for consumers affected by COVID-19 to sign up for coverage.
Xavier Becerra, secretary of the Department of Health and Human Services, initially shied away from committing to another COVID-19 special enrollment period as the Omicron variant has caused an enormous surge in the virus. However, although the open enrollment period already was extended for a month, he didn’t rule out the possibility.
“The president is all about helping more people get quality insurance coverage; that is why he campaigned about it,” Becerra said. “I wouldn’t be surprised if he instructs us to look for ways for Americans to look for the coverage they need.”