CMS announces largest participation in Marketplace
By HME News Staff
Updated 12:15 PM CST, Wed January 25, 2023
WASHINGTON – A record-breaking more than 16.3 million people have selected a health plan through the Affordable Care Act Marketplace during the recent open enrollment period from Nov. 1, 2022, to Jan. 15, 2023, according to CMS. Total plan selections include 3.6 million people (22% of total) who are new to the Marketplace for 2023, and 12.7 million people (78% of total) who had active 2022 coverage and made a plan selection for 2023 coverage or were automatically re-enrolled. “Since President Biden took office, the number of people who have signed up for an affordable health care plan through HealthCare.gov has increased by nearly 50%,” the agency stated in a press release. “Because of the President’s plan, millions of working families saved an average of $800 on their health insurance premiums last year.” Over 1.8 million more people have signed up for health insurance, or a 13% increase from this time last year. The 3.6 million plan selections from people who are new to the Marketplace represent a 21% increase in new-to-Marketplace plan selections over last year. Individuals benefited from a highly competitive Marketplace this year, according to CMS, with 92% of enrollees having access to options from three or more insurance companies. Also, new standardized plan options were available in 2023 through HealthCare.gov, which helped consumers compare and select plans, the agency says.
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