There have been 1.2 million new consumers signing up for coverage on HealthCare.gov from Feb. 15 through May 31, with 4 in 10 spending $10 or less per month due to enhanced tax credits, new data show. The Centers for Medicare & Medicaid Services (CMS) released a report Monday that explores how many people have taken advantage of enhanced tax credits passed under the American Rescue Plan Act, which went into effect in April.
The special enrollment period lasts through Aug. 15. “The financial assistance available is helping to ensure that quality healthcare is within reach for Americans who need it and want it during this pandemic and beyond,” said CMS Administrator Chiquita Brooks-LaSure during a press call Monday.
The report showed that 2.3 million current enrollees on the exchanges returned to the marketplace during the special enrollment period and reduced their premiums by more than 40%, or $61 a month on average.
It also found that 1.03 million consumers were able to get an Affordable Care Act (ACA) plan with premiums of $10 or less a month. Of that 1.03 million, 687,275 were returning consumers and 347,349 were new customers.
There is no connection between financial assistance and quality health care. In fact I challenge you to define quality health care.
Should we be asking what could happen when the enhanced tax credits expire after 2022❓Probably not.