Two out of 12 million haven't paid ACA premiums, CMS says
High cost, lack of affordability most common factors that lead consumers to cancel health insurance coverage, two reports say.
Less than two months after selecting a plan on the exchange, more than two million consumers have not paid their insurance premium, according to two new reports released by the Centers for Medicare and Medicaid Services.
Exit survey data shows cost is the top reason cited for ending coverage.
An estimated 12.2 million people signed up for coverage during open enrollment, which ended January 31. However, only 10.3 million followed through by paying their premiums to maintain coverage as of March 15, according to an Effectuated Enrollment Report.
[Also: Open enrollment 400,000 lower this year than last]
This means 1.9 million people had not paid or did not continue paying for the insurance coverage they selected on the exchange, CMS said, though additional individuals may effectuate coverage for March of 2017.
CMS gave no statistics on past years as to how many consumers had stopped paying, or had never made a single premium payment, after enrolling.
Health and Human Services Secretary Tom Price, and CMS Administrator Seema Verma, were appointed under the Trump administration, which has as its goal the repeal and replacement of the Affordable Care Act.
[Also: Uncertainty over insurance marketplaces grows as payers exit ACA exchanges]
CMS said the Health Insurance Exchanges Trends Report indicates that cost and affordability affect consumer decisions to pay for health coverage, and that taken together, the two reports provide a better understanding of why consumers are leaving the exchanges.
"Consumers are sending a clear message that cost and affordability are major factors in their decision to cancel or terminate coverage," said CMS Administrator Seema Verma.
Price, MD, said, "Not surprisingly, as costs continue to go up, fewer Americans can afford to pay more and get less for healthcare. Many individuals and families across the country are tired of having their healthcare options dictated to them by Washington – particularly when those limited options are unaffordable. That's why every day we are working on behalf of President Trump on solutions that will show a little humility from the federal government, equip states to serve their unique and diverse populations, and put healthcare decisions in the hands of patients, families, and their doctors."
Twitter: @SusanJMorse
