ACA Magnifying Glass Though overall signups declined this year, more people actually followed through on paying their first month of premiums and actually activated their insurance. (Photo: Getty)

A newly released report from the Centers for Medicare and Medicaid indicates that premium hikes by insurers for coverage under the Affordable Care Act made policies unaffordable for about a million people. But despite that fact, more people actually paid premiums for coverage than last year.

As reported by the New York Times, the Centers for Medicare and Medicaid’s analysis on trends in subsidized and unsubsidized insurance found that about a million Americans dropped coverage, apparently thanks to the 20-percent-plus premium hikes—and they likely fall into the group of workers who make too much money to qualify for premium subsidies: those whose incomes are a little above the $48,000 poverty line. This group saw a 20 percent decline in enrollment, compared to just 3 percent among subsidized enrollees.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

More from this author

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.