Obamacare cracks top 16 million for 2023, setting new record

Enrollment in plans through Affordable Care Act marketplaces broke last year's record, with particularly strong growth in Florida , Texas and Georgia.

WASHINGTON — A record 16.3 million Americans have purchased health insurance plans through health insurance law marketplaces. affordable care during this year's open enrollment period, beating last year's enrollment by 13%, the Biden administration said on Wednesday.

President Biden applauded the development in a statement, saying, "Today 'today we received further proof that our efforts are paying off - record results."

The Biden administration has taken other steps to encourage the enrollment in the plans, including increasing advertising and enrollment assistance and providing a longer window for enrollment than during the administration of President Donald J. Trump. But it seems money matters more than anything else.

"The #1 reason the Affordable Care Act worked - and now works better — is that it's affordable," said Peter V. Lee, a principal investigator at Stanford University who has led the California market for a decade. "Affordability is the most important thing."

There was ample evidence during the early years of Obamacare that the price of health plans remained a major barrier for Americans.People were eligible for subsidies on a scale mobile based on their income, and under the original formula, remaining premiums have proven a barrier for many low-income households.

For one in four families earning more than about $110,000, there was no federal aid available, which overwhelmed many with c extremely high insurance prices. The cheapest plans also often came with high deductibles and a limited selection of doctors.

Frustrations over the cost of coverage helped fuel a backlash politics against the Affordable Care Act that culminated in an effort by Mr. Trump and congressional Republicans to repeal the law in 2017. But Republican lawmakers were unable to agree on a program to replace the law that could win majority support in the Senate.

As part of the new policies adopted during the pandemic, which have been renewed until 2025 in the draft climate, tax and health care bill passed last year, subsidies have increased at all income levels.

Americans Earning Less Than 150% federal poverty level - approximately $42,000 for a family of four onnes – are eligible for free health plans that come with low deductibles and co-payments. Before the change, many of these people could get free plans in Obamacare marketplaces, but only with very high deductibles. This year, there have been particularly large enrollment increases in Texas, Florida, Georgia and North Carolina, states with large low-income populations that have not expanded Medicaid, which suggests new grants are driving change.

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