The 2023 Affordable Care Act (ACA) Open Enrollment period is upon us, marking a significant milestone as Health Insurance Marketplaces open their doors for the tenth year. From November 1, 2022, to January 15, 2023, individuals and families have the opportunity to secure comprehensive healthcare coverage. In this blog post, we’ll delve into the key changes and updates for this year’s open enrollment, focusing on insights gathered from the Kaiser Family Foundation’s informative article titled “Nine Changes to Watch in Open Enrollment 2023” [source: www.kff.org/policy-watch/nine-changes-to-watch-in-open-enrollment-2023/].
- Unsubsidized Premiums on the Rise: As we step into 2023, ACA Marketplace benchmark premiums are expected to increase by an average of 4% across all states and DC. These changes range from a drop of -18% in Virginia to an increase of +15% in New Mexico. While the majority of Marketplace enrollees receive subsidies, this year’s premium changes highlight the importance of staying informed and potentially switching plans to maximize subsidy benefits.
- Enhanced Subsidies Continue: The enhanced marketplace premium subsidies, introduced by the American Rescue Plan Act (ARPA), remain in effect for 2022 and beyond. The Inflation Reduction Act (IRA) ensures these subsidies continue for an additional three years, making coverage more affordable for individuals and middle-income families by removing upper income limits.
- Higher Enrollment Expected: With record-high enrollment in 2022, the 2023 open enrollment season could see even more people renewing coverage. Expanded subsidies, extended enrollment periods, and enhanced outreach contribute to the rise in Marketplace enrollees.
- The “Family Glitch” Fixed: A positive change this year is the resolution of the “family glitch.” Previously, many were ineligible for subsidies due to job-based coverage for the worker’s self-only plan. This year, new rules will consider family coverage affordability, benefiting families who previously missed out on subsidies.
- Relaxation of Eligibility Rules: Changes in eligibility rules on HealthCare.gov offer relief to individuals who fell behind on premium payments. Insurers can no longer refuse coverage for such cases. Moreover, qualifying life events can lead to year-round enrollment, with eased verification processes.
- Dynamic Insurer Landscape: Consumers can expect a variety of options, as insurers enter and exit the market. On average, HealthCare.gov states offer 6 to 7 qualified health plan issuers in 2023, ensuring choices for enrollees.
- Actively Renew Your Plan: Active plan renewal is advised to take advantage of changing benchmark plans, subsidies, and coverage costs. Passive renewal may not align with your best interests.
- More Enrollment Help Available: Navigators’ funding has been restored, with 59 programs available in HealthCare.gov states. Trained experts offer assistance, including extended hours, remote help, and language services.
- Year-Round Sign-Up for Low-Income Individuals: Low-income individuals (up to 150% of FPL) can enroll in Marketplace plans year-round. Although enrolling during the open enrollment period is recommended, this flexibility ensures access to coverage.
As the ACA Open Enrollment enters its tenth year, changes abound, ensuring improved access, affordability, and assistance for individuals and families seeking healthcare coverage. Staying informed and actively participating in the enrollment process is key to making the most of the evolving healthcare landscape.
To read more about the changes and insights for the 2023 ACA Open Enrollment, visit the original article by the Kaiser Family Foundation at www.kff.org/policy-watch/nine-changes-to-watch-in-open-enrollment-2023/.
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