According to a recent report from CMS.gov (Centers for Medicare and Medicaid Services), more Bostonians have registered for the Affordable Care Act between February 15th and July 31st, 2021 than they did between the same dates in 2020 and 2019.
HealthCare.gov and State-based Marketplaces (SBM) enabled 34,446 Bostonians to enroll in health insurance from February 15th to July 31st, 2021. It represents a significant increase from the same time period in the two previous years of 2020 and 2019 when the number of people was 18,047 and 13,299 respectively. The U.S. Department of Health and Human Services states that 1.8 million Americans have signed up for health insurance from February 15, 2021, through July 31, 2021, when the Special Enrollment Period (SEP) began. In the month of July alone, 404,000 consumers purchased health insurance.
There has been a dramatic increase in signups following the Coronavirus pandemic and the Biden-Harris Administration’s decision to open a Special Enrollment Period on HealthCare.gov, in response to the COVID-19 Public Health Emergency. The SEP was previously available for qualifying life events only.
Consumers are now eligible for more generous APTC (Advance Payment of Premium Tax Credits) under the American Rescue Plan Act of 2021 (ARP), which further lowers their monthly premium payments. Since the APTC amounts were expanded on April 1, 2021, 2.6 million consumers have returned to the Marketplace and reduced their monthly premiums by 39 percent, from $105 to $63, on average, and 30 percent of returning consumers (784,000) have chosen plans for $10 or less per month.
According to a representative from Health Insurance Today, an insurance company that offers comprehensive health insurance services, “The coronavirus has taken over the zeitgeist since its discovery in Wuhan near the end of 2019.” Coronavirus has been a topic of conversation, news coverage, and online discourse for years, which has kept it on everyone’s minds. In addition to helping millions around the country take their health more seriously, COVID-19 has also become a wake-up call for millions of people. As many found themselves inundated with news of friends, family, coworkers, and acquaintances who have lost or died due to the Coronavirus, it has again demonstrated the fragility of human life. People are now taking notice of their health and making changes to their lives to prepare for the worst. Paying attention to their health insurance plans is an important part of that. If things do not go as planned, consumers are making sure that they have insurance so the worst doesn’t happen. The industry as a whole will benefit from this as well as all the new signees. In the coming years, we look forward to exploring the impact it will have on the insurance world. Our opinions and insights can be found on the Health Insurance Today in Boston social media page.
With Health Insurance Today, coverage is more affordable, easier, and less stressful with competitive offers and personalized packages.
Through its mission, the company aims to deliver a humanized insurance experience by taking an unprecedented customer-centric approach. Customer-focused goals, ideas, and results are its guiding principles. The company’s mission is to connect its customers with top-notch industry professionals and highly experienced insurance agents to build a plan that meets the unique needs of the customer and their immediate family based on specialized health conditions, financial conditions, and enrollment plans.
Reach the company by calling (617) 616-9913. On its website, customers can also use a search function to find an agency within a radius of their choice.
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For more information about Health Insurance Today Boston, contact the company here:
Health Insurance Today Boston
Matthew Bissell
(617) 616-9913
info@healthinsurancetoday.io
76 Savin St, Boston, MA 02119
