HHS releases marketplace analysis

Last week, HHS released its latest enrollment figures showing that 273,210 people are signed up for 2017 Marketplace coverage in New Jersey, more than at the same time last year.
Today, HHS released a new report with detailed demographic, financial, and geographic data on New Jersey consumers signed up for coverage as of Dec. 24, 2016. The new report also finds that more than 11.5 million people nationwide were signed up for Health Insurance Marketplace coverage as of Dec. 24, an increase of 286,000 plan selections relative to the comparable period last year. Today’s report shows that a broad cross-section of New Jerseyans rely on the Marketplace to access affordable, quality coverage. New Jersey Marketplace consumers signed up through Dec. 24 include: 145,737 female and 127,059 male New Jerseyans, 23,283 children, 68,900 adults age 18-34, 100,376 adults age 35-54, and 80,237 older New Jerseyans, 34,930 Asians, 13,564 African-Americans, 32,288 Latinos, and 118,864 Caucasians, 65,480 new and 207,316 returning consumers
“With more than 11.5 million people signed up nationwide, demand for health coverage is higher than ever, and New Jerseyans are proving once again that Marketplace coverage is vital to them and their families,” said Health and Human Services Secretary Sylvia M. Burwell. “For New Jerseyans who have not yet signed up, it’s not too late. Open enrollment continues through Jan. 31, but you should visit HealthCare.gov by this Sunday to ensure your coverage starts Feb. 1. Most HealthCare.gov consumers can find a plan for less than $75 per month in premiums, and millions are finding plans that meet their and their families’ needs.”
Today’s report underscores the importance of financial assistance for New Jersey consumers. 76 percent of New Jerseyans signed up for Marketplace coverage through Dec. 24 will receive advanced premium tax credits that lower their premiums by an average of $267 per month. On an annual basis, that works out to tax credits of $3,210 per year for up to 207,584 New Jerseyans.
Today’s report also shows that New Jersey Marketplace consumers are actively engaged with their coverage. 141,662 New Jersey consumers, 68 percent of all returning consumers in New Jersey through Dec. 24, came back to the Marketplace and actively selected a plan for 2017.
Open Enrollment continues through Jan. 31. Last year, enrollment slowed in the middle of January but spiked in the days before the final deadline. Plan selection totals will also fluctuate over the remainder of Open Enrollment as some consumers choose to cancel their plans, for example in response to life changes like starting a new job with employer coverage or gaining eligibility for Medicare or Medicaid.
Consumers have until Jan. 15 to sign up for coverage that starts Feb. 1. With millions of New Jerseyans still in need of affordable, quality health insurance for 2017, HHS will continue its outreach to make sure uninsured Americans know about the coverage and financial assistance available to them. Through the rest of this month, we’ll also be running additional TV and radio advertising, sending targeted emails to consumers, and continuing our innovative partnerships with sites like Twitch, YouTube, Instagram and Facebook. And new this year, the IRS will send direct mail to people who went without health insurance in 2015, encouraging them to get covered instead of paying the penalty and letting them know that financial help is available.
An estimated 61 percent of New Jerseyans can find plans for less than $100 per month, and the large majority of Marketplace consumers nationwide are satisfied with their coverage and report that it offers them financial security and access to care. Consumers should visit HealthCare.gov, CuidadodeSalud.gov, or call 1-800-318-2596 to review their coverage options, learn about what financial assistance is available, or to sign up or re-enroll in a plan that best meets their needs.