Record-setting enrollment for Affordable Care Act coverage

Photo: HealthCare.gov

The Centers for Medicare and Medicaid Services reports that close to 24 million people have selected a health plan for 2025 during the Affordable Care Act open enrollment period.

With six days remaining to sign up for coverage, this year's ACA enrollment is record-setting, beating numbers for the 2024 open enrollment period, which also set records.

Of the 23.6 million people who have signed up this year, 3.2 million are new consumers and 20 million have returned to the ACA marketplace. For 2024 coverage, 21.4 million people signed up at the end of last year's open enrollment period.

WHY THIS MATTERS

The result is a historically low uninsured rate, CMS said. 

"Building on the historic success of last year and thanks to President Biden's leadership, we are on track for a record high number of plan selections for this year's open enrollment," CMS said.

CMS credits the Inflation Reduction Act of 2022, under the Biden Administration, for extending the enhanced premium tax credits for the Affordable Care Act through 2025. The legislation made it possible for people who were previously ineligible for financial assistance to have access to lower premiums after tax credits, CMS said. 

Four out of five HealthCare.gov consumers can find a plan for $10 or less per month through expanded tax credits, CMS said. 

But these enhanced tax credits remain available only through 2025. 

The future of the tax credits remains uncertain as President-elect Donald Trump takes office on January 20. Trump has made conflicting statements about getting rid of the ACA, which was signed into law under President Barack Obama.

THE LARGER TREND

Marketplace open enrollment on HealthCare.gov runs through January 15. Consumers who enroll by midnight local time on January 15, no later than 5 a.m. ET on January 16 can get coverage that starts February 1.

State-based marketplace-enrollment deadlines vary. State-specific deadlines and other information are available in the State-based Marketplace Open Enrollment Fact Sheet.
 
ON THE RECORD 

"Nearly 24 million people, a record number, have signed up for Marketplace coverage -- and the open enrollment period is not over yet. The Affordable Care Act health insurance marketplace and reforms have proven to be successful and critically important for millions of Americans and their families," said Health and Human Services Secretary Xavier Becerra. "Every American should have access to quality, affordable health care -- and thanks to the ACA, they do. The Affordable Care Act now stands along with Medicare, Medicaid, and Social Security as one of the most consequential social programs in the history of our nation."

Email the writer: SMorse@himss.org