Some 11,000 new consumers enroll in Washington health insurance exchange

seattle washington health insurance rates industry

State health insurance exchange enrolls 11,000 new consumers looking for coverage

An estimated 11,000 new people have enrolled in Washington’s health insurance exchange, according to state officials. The state’s exchange has managed to attract numerous new customers who have been looking for insurance coverage. A portion of these consumers were previously uninsured, with others opting to find new policies and move away from the private market, which is becoming increasingly expensive. State officials believe that the exchange continues to see healthy growth as new consumers seek more options when it comes to health insurance coverage.

Consumers opt to renew their policies through state’s insurance exchange

Washington officials note that another 112,000 people have renewed their policies through the state’s health insurance exchange. These consumers had received coverage through the exchange in 2015 and have opted to keep their policies. Notably, premiums for coverage being sold through the exchange are expected to go up in 2016, but consumers seem satisfied to pay more for their coverage. Those managing the Washington Health Benefit Exchange believe that the exchange has managed to find success this year.

Many consumers may be holding off on purchasing new health insurance policies

seattle washington health insurance industryPam MacEwan, CEO of the state’s health insurance exchange, suggests that many consumers in the state will wait until the last second to enroll for coverage. Consumers have until December 23 to purchase coverage in order for their policies to become active by January 1, 2016. The open enrollment period runs through January 31, 2016, however, and consumers have plenty of time to enroll for coverage. Those without active insurance coverage by January 1 may be subjected to tax penalties from the federal government.

Health insurance exchanges continue to see healthy growth throughout the country

Health insurance exchanges have managed to perform quite well throughout the United States this year. In some states, enrollment rates have been relatively sluggish compared to what they were during the 2014-2015 open enrollment period. Several states launched special enrollment periods earlier this year to ensure more consumers had access to health insurance coverage through their exchanges.

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