2.8M have enrolled for health insurance coverage under COVID relief law

President Joe Biden made an announcement this Wednesday that in the special 6-month period granted to sign up for more affordable private health insurance under his COVID-19 relief law, 2.8 million users had availed the opportunity.

The President cited the number as positive and encouraged Congress to look into helping to lower healthcare costs in the country by making the COVID-19 related enhanced subsidies permanent and to lower the price of prescription drugs as per his proposal. Currently, the enhanced subsidies will last only through next year.

Biden urged “That’s 2.8 million families who will have more security, more breathing room, and more money in their pocket if an illness or accident hits home,” before adding, “Altogether, 12.2 million Americans are actively enrolled in coverage under the Affordable Care Act—an all-time high.”

HealthCare.gov marketplace was ordered by Biden to reopen for 5 months from 15th February to 15th August, in an effort to facilitate citizens who had been laid off and lost their healthcare benefits in signing up for insurance coverage.

Under the COVID-19 relief law, increased subsidies in April had made the coverage more affordable and attracted greater enrollment.

An all-time high number of 12.2 million people are covered by the Affordable Care Act.

The law was enacted during Obama’s era in 2010 when Biden was Vice President and aims to provide subsidized private insurance across the country and make it more affordable for citizens not receiving insurance coverage through their workplaces. Medicaid for low-income adults had expanded under the same law as well.

Approximately 27 million people are covered under the two components.

4 in 10 consumers who bought the coverage under the special 6-month window were able to find plans for $10 a month, or even less. The subsidies under the COVID-19 relief law helped decrease premiums by almost $67 a month, bought under the Affordable Care Act. Out-of-pocket expenses also dropped for users.  

The Affordable Care Act’s regular annual sign-up season starts on 1st November.