Low costs expected to keep Obamacare interest high
WASHINGTON (AP) — Millions of Americans can begin selecting their 2023 health insurance plans on HealthCare.gov on Tuesday, as the Biden administration pushes to keep the number of uninsured Americans at a record low.
Those searching for coverage will largely be shielded from an increase in costs because of the extension of the generous subsidies that began last year as part of Democrats' $1.9 trillion coronavirus relief law and drove a big increase in enrollment.
The breaks will keep monthly premium payments at $0 or just a few dollars monthly for most people who enroll.
“More and more people are beginning to realize that they can get access to coverage they can afford,” Health and Human Services Secretary Xavier Becerra said Monday.
About 14.5 million people get their health insurance coverage through the Affordable Care Act, the Obama-era law that marks a decade in business.
Most people — 92% — seeking coverage on the market will have at least three insurers to choose from when selecting plans.
But health care access remains difficult in some areas. At least nine states have one or more counties where only one insurer is selling plans on the ACA marketplace for next year.
The extension of the more generous subsidies, through 2025, “helped avert a situation where there would be sticker shock from significant, expected increases,” said Massey Whorley, a principal at health consulting firm Avalere. “We’re in a status quote affordability environment. We’re looking again for very high enrollment.”
Private plans on the marketplace that previously may have been out of reach for many families suddenly became free with the larger subsidies. For example, a family of four with a yearly income of $69,375 saw its average premium drop from $75 last year to $0 this year,...
