Over 2.5 million people have enrolled for coverage through HealthCare.gov and state marketplaces since the start of a special enrollment period that began in February, according to federal data.
CMS reports that more than 1.8 million people purchased insurance through Healthcare.gov, while 723,000 used a state-based marketplace platform. The special enrollment period ends on Aug. 15. The Biden Administration extended the period to give consumers three more months to sign up through Healthcare.gov.
Additionally, CMS reports that a record high of nearly 81.7 million people are now covered under Medicaid and the Children’s Health Insurance Program as of March 2021. That’s an over 650,000 person increase from early February 2021.
The American Rescue Plan provided tax credits that dropped out of pocket costs on median plan deductibles by nearly 90%, according to CMS.
Nearly 30% of returning consumers saw costs per month of newly selected plans at $10 or less.
In the group of new consumerss, 45% enrolled since April 1 selected monthly plans for $10 or less.
The majority of consumers signing up for new plans continue to be Caucasian, with Asian and African Americans comprising a minority percentage of new enrollees, per the data.
HHS credited the American Rescue plan for creating the Special Enrollment Period after 20 million people were left unemployed from the pandemic’s economic downturn. Signing up for an exchange plan is usually tightly restricted outside of normal enrollment, but the Special Enrollment Period allowed individuals to enroll in coverage through Healthcare.gov beginning Feb. 15.
Health insurers, providers and consumer advocacy groups urged the Trump administration to open a national special enrollment period during the COVID-19 public health emergency. But, the former administration said the period would be unnecessary since people could enroll due to changes in employment coverage or other qualifying circumstances. The period opened up opportunities for insurers to increase revenue and membership throughout the year.
Source link : https://www.modernhealthcare.com/insurance/25m-sign-up-during-exchange-special-enrollment-period
