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Austin Health Insurance Companies Grows Amid Affordable Care Act Enrollment
by PRC Agency PR
Austin health insurance company participation is growing at a much slower rate than in recent years, despite Affordable Care Act membership exchange plans skyrocketing throughout the previous year courtesy of a lengthy special enrollment period under the pandemic and enhanced premium tax credits. This news was announced in a recent study conducted by the Robert Wood Johnson Foundation, finding that the number of plans offered under the ACA for 2022 hit 15,638 — a 15% increase from 2021. The report also found a notable shift toward the exchanges, with growth at 20% compared to 6.8% for off-exchange plans.
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As always, these and so many other studies are interesting and related directly to individuals and families with health insurance in Austin. Per an article in Fierce Healthcare, senior policy advisor at the Robert Wood Johnson Foundation, Kathy Hempstead, was quoted as saying in part, “In the short-to-medium run, the most likely prospect for enrollment growth will come from the coverage provisions in the Build Back Better Act and redeterminations out of Medicaid as the public health emergency unwinds. These trends may take longer than anticipated to materialize, due to both headwinds with the legislation and the persistence of the pandemic."
Rick Thornton, an Austin health insurance agent , said there are some notable health insurance companies mentioned in the report as new entrants into the individual market for 2022. This includes Ascension, two Medicaid managed care organizations, AmeriHealth Caritas and The Health Plan, and CVS Health’s Aetna. What this means is that nearly all of the major national health insurers have returned to the marketplace, Hempstead added. "Whether this becomes a factor in the individual market depends on both participation trends and the potential for market growth," she stated in the article.
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Created on Aug 25th 2022 02:32. Viewed 113 times.
