7.3 million Americans were enrolled in marketplace coverage as of August 15, 2014, according to Marilyn Tavenner, Administrator for the Centers for Medicare and Medicaid Services (CMS).
This is the most recent enrollment number for marketplace coverage to date, and comes on the heels of a Commonwealth Fund report that reveals 61 percent of marketplace enrollees are finding their premiums “very or somewhat easy to afford.”
So, not only do we know that millions of individuals are paying their premiums each month, and on time, per CMS’ announcement, we also know that individuals will likely keep paying their premiums because they are affordable.
Keeping up with premium payments gives enrollees continued access to benefits made available by the Affordable Care Act (ACA), including free preventive care with no co-pay, free cancer screenings, check-ups, and more.
In order to keep coverage, individuals must pay their premiums each month, on time, so the fact that over 7 million consumers were enrolled on August 15 is a big deal. However, it’s still very important for stakeholders to get the word out about the availability of financial help and the importance of making timely premium payments. Stakeholders may also want to consider implementing innovative solutions to make it as easy as possible for individuals to make their premium payments so individuals can #GetCovered and #StayCovered.
About the data:
The announcement from CMS represents the most recent snapshot in time for marketplace enrollment, but it does not include individuals who:
- Enrolled in marketplace plans and paid their premiums but discontinued coverage before August 15, 2014,
- Signed up for marketplace coverage but did not pay their premiums by August 2014, and
- Have signed up for marketplace coverage and paid their premiums after August 15, 2014.