With a month left until the August 15 deadline, more than two million people have signed up for healthcare coverage through the Affordable Care Act(ACA) during the Biden Administration’s 2021 Special Enrollment Period, according to new enrollment reports from the Centers for Medicare and Medicaid Services. The special enrollment period began on February 15.
The reports also show that access continues to expand, with 81 million people receiving coverage through Medicaid and the Children’s Health Insurance Program(CHIP) as of February 2021.
The report shows that since February 15, 1.5 million Americans have signed up on HealthCare.gov, with an additional 600,000 enrolling in coverage through the 15 state-based marketplaces. And of the new and returning consumers who have selected a plan since April 1, 1.2 million consumers (34%) have selected a plan that costs $10 or less per month after the American Rescue Plan’s premium reductions.
The American Rescue Plan’s expanded premium tax credits have reduced premiums and increased savings, CMS said. For new consumers selecting plans during the enrollment period, the average monthly premium after the tax credits fell by 25% and the median deductible fell by nearly 90%.
As for Medicaid and CHIP, an additional 500,000 children and adults enrolled in Medicaid and CHIP from January to February 2021. Nearly 10.4 million people, a 14.7% increase, enrolled in coverage between February 2020, the month before the COVID-19 public health emergency was declared, and February 2021.
Consumers who want to compare plan offerings, or learn if they qualify for more affordable premiums can check their coverage options by visiting HealthCare.gov by August 15. They can view 2021 plans and prices and apply to see if they’re eligible for coverage and financial assistance.
If eligible, they can enroll in a plan. Current enrollees should review their application, make any changes needed to their current information, submit their application, and then select a new plan, or reselect their current plan, to receive the increased savings under the ARP.