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News has just been released from the U.S. Department of Health and Human Resources regarding record-breaking numbers for health care coverage Open Enrollment this 2022-2023 season. The presidential administration announced that more than 16.3 million people chose to enroll in an Affordable Care Act Marketplace health plan during the 2023 Open Enrolment Period. This period ran from November 1, 2022 to January 15, 2023 and marked the highest number of enrollees in the 10 years that ACA Open Enrollment has been in effect. 

“Unprecedented investments lead to unprecedented results,” Health and Human Services Secretary Xavier Becerra said in a statement.

Now, millions of families are saving hundreds of dollars on their health insurance premiums – more than ever before. Those who were new to the Marketplace for 2023 include 3.6 million people (22% of total applicants), and 12.7 million people returned to make a plan selection or were re-enrolled. This means that there was a 13% increase in health insurance enrolment from this time last year, and a 21% increase in new enrollees compared to 2021/2022 Open Enrolment. This shows that the Biden-Harris Administration’s investments in lowering health care cross and expanding access have paid off immensely. 

 

Consumer Type Amount of 2023 OEP Plan Selections
New Consumers for All Marketplaces 3,603,067
Returning Consumers for All Marketplaces 12,703,381
New Consumers for HealthCare.gov 3,000,155
Returning Consumers for HealthCare.gov 9,203,467
New Consumers for SBMs 602,912
Returning Consumers for SBMs 3,499,914

(Source)

 

This year, 92% of HealthCare.gov enrollees had access to three or more insurance company options when looking for plans, making the marketplace highly competitive. In addition, the Inflation Reduction Act has helped Americans become capable of affording plans that are right for the needs of them and their families. 

“The Biden-Harris Administration has made lowering health care costs and expanding access to health insurance a top priority — and these record-breaking numbers show we are delivering results for the American people,” added Becerra. “We will keep doing everything we can to ensure more people have the peace of mind that comes with high-quality, affordable health care.”

Coverage Haven is your go-to source for health care plans and open enrolment news. To learn more about Open Enrolment Periods, available plans, and resources for health care information, speak to a licensed health insurance agent today.