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Over the past 10 years the Affordable Care Act (ACA) has grown steadily. In the years since 2020 up until 2022, participation increased 25% to approximately 16 million. According to a McKinsey & Co. report – The Individual Health Insurance Market in 2023 – participation increased this year most in the national insurance carriers category.

Insurer participation increased in 2023 for the fifth consecutive year to 303 insurer participants at the state level, nearly matching the all-time high of 306 in 2015. Twenty-six new insurers entered at the state level in 2023 (a 9% increase in participation), compared with 48 and 35 new entrants in 2022 and 2021, respectively.

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