The Department of Health and Human Services (HHS) released updated Affordable Care Act (ACA) enrollment data which found that over 8 million individuals signed up for coverage on the Exchanges during the first open enrollment period (October 1, 2013 – March 31, 2014), including additional special enrollment period activity reported through April 19th.
Despite (or maybe because of) the exchange website’s rocky start, nearly 3.8 million people selected a Marketplace plan during the March enrollment surge at the end of the initial open enrollment period. This included nearly 1.2 million young adults (ages 18-34). The number of young adults who selected a Marketplace plan doubled from 1.1 million to more than 2.2 million during the busy last month.
“More than 8 million Americans signed up through the marketplace, exceeding expectations and demonstrating brisk demand for quality, affordable coverage,” said HHS Secretary Kathleen Sebelius as quoted in USA Today. All told, Sebelius said, 20.8 million are now enrolled in insurance because of the Affordable Care Act. That includes those who enrolled in private insurance, 4.8 million now covered by Medicaid and the Children’s Health Insurance Program, 5 million who bought coverage outside the state and federal exchanges and 3 million adults younger than 26 now covered through their parents’ insurance.
Key details outlined in the Exchange enrollment reports include:
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Top-line Data – 8,019,763 people selected Marketplace plans, including nearly 2.6 million signed up in the State Based Exchanges and over 5.4 million in the Federally-facilitated Marketplace. Notably, about 3.8 million people, including nearly 1.2 million young adults (ages 18-34), enrolled in the final reporting period (March 2 – April 19).
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Age and Gender – Of the more than 8 million enrollees: 54 percent are female and 46 percent are male; 34 percent are under age 35; and 28 percent are between the ages of 18 and 34.
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Plan Choice – A total of 65 percent selected a Silver plan, while 20 percent selected a Bronze plan; 85 percent selected a plan with financial assistance.
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Race and Ethnicity – Thirty-one percent of enrollees did not report their race or ethnicity or chose “other.” However, of those enrollees who reported race and ethnicity: 62.9 percent of those reporting are white; 16.7 percent are African American; 10.7 percent are Latino; 7.9 percent are Asian; 1.3 percent are multiracial; 0.3 percent are American Indian/Alaska Native; and, 0.1 percent are Native Hawaiian/Pacific Islander.
Effectuated Enrollment
According to the report, CMS does not have comprehensive and accurate data about “effectuated enrollment,” the number of individuals who have effectuated their enrollment and gained coverage through payment of the first premium. However, CMS states that some issuers have made public statements indicating that 80 percent to 90 percent of the people who have selected a Marketplace plan have made premium payments. This comes after reports that as of April 15, only two-thirds of enrollees in the Federal Marketplace had paid the first month’s premium.
This means that many patients who were not previously on insurance now are insured, this should lead to an increase in healthcare spending for the newly enrolled.