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The Centers for Medicare and Medicaid Services (CMS) announced a significant increase in health insurance enrollment through the Affordable Care Act’s (ACA) marketplace, setting a record for the third year in a row.
According to the CMS, enrollment for 2024 ACA plans has surpassed 20 million, exceeding the previous year’s figure by approximately 4 million.
President Biden highlighted this achievement: “Today, we hit a major milestone in lowering costs and ensuring all Americans have access to quality, affordable health care: a record-breaking 20 million Americans have enrolled in health care coverage through the Affordable Care Act marketplaces.” He emphasized the increase of 8 million enrollees since he took office and noted that there are still six days remaining for people to sign up.
This year’s enrollment period, concluding next Tuesday, differed from previous years in several ways. Notably, it featured a “Medicaid Unwinding Special Enrollment Period” for individuals disenrolled from Medicaid during last year’s unwinding. This period began earlier than usual and will extend until the end of March, offering additional flexibility for those seeking coverage.
Health and Human Services Secretary Xavier Becerra remarked on the milestone, saying, “Today is a momentous day. A record number of people in the United States have health care coverage through the Affordable Care Act’s Marketplace — more than at any point in history.” Becerra highlighted the broader implications of this increase, pointing to improved access to preventive care and the potential for reduced overall healthcare costs.
Additionally, applicants to HealthCare.gov were given more time to submit income verification documents. The marketplace also saw greater participation from insurers than in previous years, offering customers a broader array of plan options.