BOOM: 8.54 Million Already Enrolled For 2016 (UPDATE: 11.6 Million)

Posted by | December 31, 2015 | News | No Comments

UPDATE #2, 1/21: The total enrolled is now 11.6 million across all 50 US states based on yesterday’s CMS report.

 

UPDATE 1/7: The total enrolled has now increased to 11.3 million for all 50 states based on today’s government report. The average subsidy for 2016 is $294 per person per month to help pay for the cost of insurance for those who qualify (a slight increase over 2015).

 


 

CMS announced today that over 8.5 million people have already applied for health insurance through the Federal Marketplace during this year’s Open Enrollment Period. Government representatives have estimated about 9.9 million people will be enrolled in Obamacare plans by the end of 2016, however experts now predict it could reach as high as 14.7 Million enrollees based on the current pace of sign ups.

CMS Dec 30

The report tallies enrollees for 2016 coverage through December 26 in 38 states that use the Affordable Care Act’s federal marketplace. Additional enrollees come from state exchanges and are not included in this report.

Around 71% of Americans who signed up were renewing coverage and 60% shopped again for plans. Existing enrollees who return to the Federal Marketplace to shop around for a new plan with the same coverage level could save as much as $600 a year, according to CMS.

The 2016 Open Enrollment Period is scheduled to run until the end of January. All Americans will need to have health insurance before this deadline in order to avoid the tax penalty of $695 per adult or 2.5% of income (whichever is higher). Consumers can enroll here.

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