Nearly 24 million Americans are currently enrolled in health insurance plans through the Affordable Care Act (ACA) as open enrollment continues for just one more week.
According to a recent press call, the Biden administration has set a new record for ACA marketplace enrollment, with each year in the current administration demonstrating continual growth. The enrollment figures mark a significant rebound following previous challenges faced by the ACA.
This enrollment number is nearly double the figure from when President Biden assumed office four years ago. A surge in enrollment can be attributed to increased federal investments aimed at enhancing the marketplace experience, alongside strategies that improve affordability and accessibility.
Health Secretary Xavier Becerra noted that over 300 million Americans now have health coverage, reflecting a record-high insurance rate, with 92% of Americans covered according to the latest U.S. Census data.
Open enrollment remains active until January 15 for coverage beginning on February 1. While most Americans obtain their insurance through employers or public programs like Medicaid or Medicare, the ACA’s vital role in reducing the uninsured rate is evident as enrollment numbers reach new heights.
The Biden administration’s initiatives, including enhanced federal subsidies that have significantly reduced premiums, user-friendly sign-up processes, and targeted advertising campaigns, have contributed greatly to this enrollment growth. This year, many individuals are finding premiums as low as $10 per month amid various plan offerings.
However, the extra subsidies are set to expire at the end of 2025 unless Congress takes action to either extend or make them permanent. With Republicans holding a legislative majority, the future of these subsidies remains uncertain, as historical opposition toward the ACA suggests potential challenges ahead.
Some prominent Republican figures have expressed skepticism about extending the subsidies, arguing that they contribute to rising premiums and ongoing federal support. Nevertheless, a notable number of newly insured individuals are coming from Republican-led states, suggesting a complex landscape in terms of political support and public health needs.
If these federal subsidies are not extended, substantial premium increases could affect millions, with warnings of potentially catastrophic consequences should Congress fail to act. As the enrollment period draws to a close, expectations are high that final numbers may surpass current records.
