With the closing of the 2024 Marketplace Open Enrollment Period (OEP) on January 15, the Centers for Medicare & Medicaid Services (CMS) has released staggering statistics, revealing that a record-breaking 20 million Americans have successfully enrolled in individual market health insurance coverage through the Marketplaces. This significant milestone, achieved since the commencement of the OEP on November 1, underscores the growing importance of accessible and affordable healthcare options for individuals and families across the nation.
Marketplace Overview:
As the Open Enrollment Period comes to a close, the comprehensive data from CMS indicates that the total nationwide plan selections include 3.7 million new consumers (18% of the total) and 16.6 million returning consumers (82% of the total). These selections encompass both HealthCare.gov Marketplaces, covering 15.5 million plan selections in 32 states, and state-based Marketplaces (SBMs), which accounted for 4.8 million plan selections in 18 states and the District of Columbia.
Detailed Breakdown:
The detailed breakdown of plan selections by state provides a granular view of the impact of the Affordable Care Act (ACA) across the country. For instance, California leads the way with 1,733,137 plan selections through its SBM, emphasizing the success of state-specific initiatives. Other populous states like Florida, Texas, and New York also demonstrate significant enrollment numbers, showcasing the widespread impact of the ACA.
Marketplace and Consumer Type:
As the Open Enrollment Period concludes, it is noteworthy that 3,728,936 new consumers have joined the Marketplaces for the 2024 coverage year. These individuals, who did not have Marketplace coverage in 2023, have actively participated in selecting plans that suit their healthcare needs.
Returning consumers, comprising 16,624,525 individuals, include those with active 2023 coverage who have either actively selected the same plan or a new plan for 2024. This category also includes consumers who have been automatically re-enrolled in their current plan for the upcoming coverage year.
HealthCare.gov Marketplace vs. State-based Marketplaces (SBMs):
The breakdown between HealthCare.gov Marketplaces and SBMs provides insight into the diverse approaches adopted by states. While HealthCare.gov serves as the platform for 32 states, including Florida, Texas, and Ohio, the 18 SBMs, such as California, Colorado, and New York, operate their own eligibility and enrollment platforms.
As the Open Enrollment Period draws to a close on January 15, the surge in ACA enrollment, as illustrated by the latest CMS report, signifies the pivotal role the Affordable Care Act continues to play in providing accessible and affordable healthcare options for millions of Americans. The diverse range of plans available through the Marketplace ensures that individuals and families can make choices that align with their unique needs.
For those who have not yet enrolled and are interested in securing health coverage, seeking assistance in navigating healthcare options, or applying for Extra Help or prescription drug savings programs, American Exchange stands ready to help. Contact us today to explore the best Medicare plans available in your area that meet your health and budgetary needs.
In conclusion, with the successful closure of the Open Enrollment Period, the latest enrollment figures serve as a testament to the ACA’s positive impact, emphasizing the importance of accessible and affordable healthcare options for all Americans.
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We publish a Medicare blog on the 4th Tuesday of every month and more frequently during Medicare’s Annual Enrollment Period. Read our Medicare blog posts or flyers to understand your coverage better.
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- Medicare Basics Flyer
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Medicare Disclaimer: We do not offer every plan available in your area. Any information we provide is limited to our plans in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
American Exchange is a licensed health insurance broker. Robert Huffaker, NPN 13568432
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