6 Key Statistics on PPACA Enrollment for 2014

HHS has released an issue brief including enrollment data on both the state-run and federal marketplaces for the 2014 open enrollment period.

Just over 8 million people have signed up for health plans through the Patient Protection and Affordable Care Act exchanges, surpassing the Congressional Budget Office's initial projection of 7 million for the first year. HHS' brief focuses particularly on people between 18 and 34 — also known as "young invincibles." Without an adequate amount of young and healthy enrollees, the total amount of premiums health insurers collect for exchange plans would be less than the total healthcare expenses of exchange enrollees, and insurance companies could increase premiums to compensate.

However, a report from the Kaiser Family Foundation found a premium "death spiral" is unlikely to occur and insurers could still expect to earn profits even if only 25 percent of exchange enrollees were young adults. 

Here are six key statistics from the HHS data brief on the young invincibles and other people who have signed up for coverage through the exchanges.

1. About 5.45 million people signed up for coverage through the federally facilitated exchange.

2. The state-based marketplaces enrolled a total of approximately 2.57 million people.

3. Of those who signed up for coverage through the state-based and federal exchanges during the 2014 enrollment period, 2.2 million (28 percent) are between the ages of 18 and 34.

4. Nearly 3.8 million people selected exchange plans during the March enrollment surge at the end of the sign-up period.

5. Of the 3.8 million people who signed up during the March enrollment surge, 1.2 million (31 percent) were between 18 and 34.

6. The total number of young adults who had signed up for health plans through the exchanges doubled during the last month of the 2014 open enrollment period, from 1.1 million during the first five months to more than 2.2 million by April 19.

More Articles on PPACA Enrollment:
Poll: 57% of Americans Think Health Exchanges Missed Enrollment Goal
More Than 400k Enroll in PPACA CO-OPs
CMS Establishes Special PPACA Sign-Up Period for High-Risk Pool Enrollees

 

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