Insurance enrollment

US bailout leads to surge in Tennessee health insurance enrollment | Health care

The number of Tennessians enrolling in health insurance plans through the federal open market jumped 29% from 2021 to 2022, a year in which U.S. bailout grants boosted market uptake.

The increase means 273,000 Tennesseans are now signed up for coverage through the Marketplace, the White House noted thursday.

Tennessee’s increase was above the national average – a 21% increase. Tennessee is one of twelve states that has not expanded Medicaid under the Affordable Care Act, a move that could reduce the number of people seeking insurance in the marketplace. (In neighboring Kentucky, for example, where state leaders moved to expand Medicaid, fewer than 80,000 people are enrolled in health insurance in the federal market.)

More than 14.5 million Americans have signed up for a plan through the healthcare.gov marketplace during the last open registration period. The marketplace was designed as a central location to connect people who do not have employer-sponsored health insurance to coverage options.

Open registration ran from November 1 to January 1. 15. Special enrollment may be requested when there is a major life event, such as having a child, losing health coverage, or qualifying for Medicaid.

This week marks one year since the US bailout was signed into law by the Biden-Harris administration. It was signed on the anniversary of the declaration of the COVID-19 pandemic by the World Health Organization. One of the things he was looking to do was expand health care coverage and reduce costs.

Under the ARP, premium subsidies have been increased for all income levels and opened up to certain people previously excluded from financial assistance. Premium subsidies are tax credits intended to offset health care premiums to help people buy their own health insurance.

Data from the U.S. Department of Health and Human Services showed that 5.8 million new customers enrolled during the 2021 Special Enrollment and Open Enrollment periods, while between 2016 and 2019, 3 .6 million Americans have lost their coverage.