Survey shows that state’s uninsured population is falling
The number of people in Rhode Island that do not have health insurance coverage continues to fall. According to a new survey from Gallup, which was commissioned by the state, the number of people using the state’s insurance exchange to find coverage has increased significantly. These people have found that it is easier to find affordable coverage through exchange marketplaces. The exchange has also become popular because it offers access to federal subsidies that can make coverage less expensive.
Uninsured population is now at 5%, with 50,000 people not having insurance coverage
According to the survey, the number of people without insurance coverage in Rhode Island has fallen by more than half, reaching 50,000. The number of uninsured individuals has fallen since 2012, as consumers have found it easier to obtain coverage. Currently, the state’s uninsured population is down to 5%, with many people benefiting from the provisions of the Affordable Care Act. The federal law has also expanded the state’s Medicaid program, which has further improved the accessibility of insurance coverage.
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State’s insurance exchange has proven to be successful
Anya Wallack, director of HealthSource RI, the state’s health insurance exchange, suggests that the Affordable Care Act is working. The state operates its own insurance exchange and has successfully expanded its own Medicaid system. Approximately 82,000 people have been added to the Medicaid program, with some 37,000 consumers enrolling in the state’s insurance exchange. The majority of those receiving coverage through the exchange also receive subsidies from the federal government, which allow them to afford their health insurance policies.
Federal subsidies ensure that consumers can afford the health insurance coverage that they need
Subsidized coverage may be one of the most attractive selling points of the state’s health insurance exchange. Federal subsidies have made it easier for consumers to afford coverage, especially as some insurers look to increase rates on the coverage that they provide. Reducing the financial burden on consumers has make coverage easier to obtain during the exchange’s open enrollment period.