Enrollment in the Health Insurance Marketplace increases by 53 percent in January
Enrollment in the Health Insurance Marketplace continued to rise in January, with a 53 percent increase in overall enrollment over the prior three month reporting period, with young adult enrollment outpacing all other age groups combined, HHS Secretary Kathleen Sebelius announced today.
Nearly 3.3 million people enrolled in the Health Insurance Marketplace plans by Feb. 1, 2014 (the end of the fourth reporting period for open enrollment), with January alone accounting for 1.1 million plan selections in state and federal marketplaces. In January, 27 percent of those who selected plans in the Federally-facilitated Marketplace are between the ages of 18 and 34, a three percentage point increase over the figure reported for the previous three month period. Young adult enrollment grew by 65 percent in January, from 489,460 at the end of December to 807,515 as of Feb. 1, while all other age groups combined grew by 55 percent.
The report for the first time also includes information on the type of plans selected (Bronze, Silver, Gold, etc.) distributed across demographic factors such as gender and age. For example, it shows that 81 percent of young adults ages 18 to 34 selected plans at the Silver metal level or higher (Silver, Gold and Platinum plans).
“These encouraging trends show that more Americans are enrolling every day, and finding quality, affordable coverage in the Marketplace,” Secretary Sebelius said. “There is still plenty of time for you and your family to sign up in a private plan of your choice, so visit HealthCare.gov to learn more and sign up. Open enrollment ends March 31.”
Key findings from today’s report include:
- Nearly 3.3 million (3,299,500) people selected Marketplace plans from Oct. 1, 2013, through Feb. 1, 2014, including 1.4 million in the State Based Marketplaces and 1.9 million in the Federally-facilitated Marketplace.
- Of the almost 3.3 million:
- 55 percent are female and 45 percent are male;
- 31 percent are age 34 and under;
- 25 percent are between the ages of 18 and 34;
- 62 percent selected a Silver plan, while 19 percent selected a Bronze plan; and
- 82 percent selected a plan and are eligible to receive Financial Assistance, up from 79 percent during the Oct. 1 through Dec 28, 2013 reporting period.
Today’s report details state-by-state information where available. In some states, only partial datasets were available.
The report features cumulative data for the four-month reporting period because some people apply, shop, and select a plan across monthly reporting periods. Enrollment is measured as those who selected a plan.
To read the report visit:http://aspe.hhs.gov/health/reports/2014/MarketPlaceEnrollment/Feb2014/ib_2014feb_enrollment.pdf