HHS predicts that many more people will enroll in state-based insurance exchanges by the end of this year
The U.S. Department of Health and Human Services expects that some 10 million people will enroll for health insurance coverage through state-based exchanges by the end of this year. More than one-quarter of those without insurance in the country are expected to sign up for policies that suit their needs during the upcoming open enrollment period. The enrollment period is scheduled to begin on November 1, running through January 31, 2016.
8.8 million people expected to renew their policies during the next open enrollment period
According to the Department of Health and Human Services’ estimates, up to 8.8 million people that have already purchased health insurance coverage through state-based exchanges are expected to renew their coverage through exchanges. Another 2.8 to 3.9 million new customers are expected to use exchanges in order to find the policies that they want. Overall, an estimated 10 million people are expected to be insured through the Affordable Care Act by the end of this year.
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17.6 million people have received coverage through the Affordable Care Act
Approximately 17.6 million people in the United States have received health insurance coverage from state exchanges and expanded Medicaid programs. Some states have opted not to expand their Medicaid plans due to their opposition of the Affordable Care Act. In these states, some consumers have not received access to the insurance coverage that they need. Many consumers have also been able to obtain coverage due to the availability of government subsidies, which have offset the overall cost of health insurance policies. More than 85% of those using exchanges to receive coverage currently receive subsidies from the federal government.
Health insurance premiums are on the rise
While more consumers are expected to gain health insurance coverage, this coverage is also becoming more expensive. Many of the nation’s largest insurers have requested rate increases for the policies they offer through exchanges. Most of these rate proposals have been approved in several states, with higher premiums set to effect policies that become active in 2016.