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For 3rd Year in a Row, More Insurers are Entering the ACA
Marketplaces, Creating More Options for Consumers For
the third straight year, more insurers are entering the Affordable Care Act’s
marketplaces and expanding their service areas, creating more options for
consumers seeking to buy their own insurance for 2021, a new KFF analysis finds. The
analysis finds 30 insurers joining the marketplace across 20 states, and
another 61 insurers are expanding their services within states that they
already served. More than a third of counties (1,207, or 38%) will have more
insurers serving the marketplaces, while only a few counties (12, or 0.4%)
will see a net decrease. The
boom among participating insurers in recent years has sharply increased
consumers’ options and dramatically reduced one-insurer markets. More
than three-quarters (78%) of marketplace enrollees now will be able to choose
from at least three insurers, up from about half (48%) in 2018. At the other
end, just 3% of enrollees only will have a single insurer serving their
county, down from a quarter (26%) in 2018.
Insurer participation
varies greatly within states, and rural areas tend to have fewer insurers
than metropolitan areas. The analysis includes interactive maps tracking the
trends in number of marketplace insurers by county since the ACA marketplaces
launched. Marketplace open enrollment runs through Dec. 15 in
states using federal healthcare.gov marketplace and later in most state-run
marketplaces. More open enrollment information, including answers to
frequently asked questions and a calculator that estimates potential
enrollees’ tax credits and premiums, is available at kff.org. Filling
the need for trusted information on national health issues, KFF (Kaiser Family Foundation)
is a nonprofit organization based in San Francisco, California. |
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Monday, November 23, 2020
For 3rd Year in a Row, More Insurers are Entering the ACA Marketplaces, Creating More Options for Consumers
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