Affordable Care Act health insurance enrollment drops as costs spike

"Fewer Americans are signing up for Affordable Care Act health insurance plans this year, new federal data shows, as expiring subsidies and other factors push health expenses too high for many to manage. Nationally, around 800,000 fewer people have selected plans compared to a similar time last year, marking a 3.5% drop in total enrollment so far. That includes a decrease in both new consumers signing up for ACA plans and existing enrollees re-upping them."

"The new data released Monday evening by the Centers for Medicare and Medicaid Services is only a snapshot of a continuously changing pool of enrollees. It includes sign-ups through Jan. 3 in states that use Healthcare.gov for ACA plans and through Dec. 27 for states that have their own ACA marketplaces. In most states, the period for shopping for plans continues through Jan. 15 for plans that start in February."

"But even though it's early, the data builds on fears that expiring enhanced tax credits could cause a dip in enrollment and force many Americans to make tough decisions to delay buying health insurance, look for alternatives, or forgo it entirely. Experts warn that the number of people who have signed up for plans may still drop even further, as enrollees get their first bill in January and some choose to cancel."

Enrollment in Affordable Care Act plans has fallen by about 800,000 selections, a 3.5% decline from the same period last year. The drop encompasses both new consumers and existing enrollees who have not renewed. Federal data through early January reports sign-ups through Jan. 3 for Healthcare.gov states and through Dec. 27 for state-run marketplaces, and most marketplaces allow shopping through Jan. 15 for February coverage. Expiring enhanced tax credits and rising health costs are major factors pressuring households to delay, seek alternatives, or forgo coverage. Some enrollees may cancel after receiving their first bill, and Congress remains divided over subsidy extensions.

Read at Fast Company