Health plans should expect record ACA enrollments in 2022 — thanks ARP!
Back in April we promised to follow up on the American Rescue Plan’s (ARP’s) impact on the health insurance market. As you may recall, the ARP offered larger premium tax credits to a greater number of people who obtain coverage through Affordable Care Act health plans. It also created an extended special enrollment period (SEP) that’s slated to end on August 15th. Here’s the good news from the ARP’s impact on 2021 enrollments: CMS reports that over 1.2 million Americans signed up for health insurance under the extended SEP as of June 1st. 3 million consumers reduced their monthly health insurance rates by applying for additional premium tax credits. State-based marketplaces and healthcare.gov helped spur additional enrollments by promoting the SEP along with health plans. This included CMS teaming up with Stride’s Portable Benefits platform to help independent contractors enroll in an ACA health plan during a “Gig Workers Week of...Continue Reading