Health insurance companies are reporting a surge in enrollments and enrollments for the Affordable Care Act, and that means Obamacare’s coverage expansion is likely to continue well into the fall.
According to data from Avalere Health, which is a private health insurance company, the number of people enrolled in insurance plans through the health insurance exchanges for 2018 was about 4 million more than the number who enrolled in individual health insurance plans in 2019.
This suggests the expansion is getting a lot more popular, as insurers are having to work to enroll more people.
Avalere found that the number participating in the individual insurance market for 2018 grew to 8.7 million people, an increase of 3.2 million from 2019.
That means people are signing up for individual health plans more frequently and buying more of them.
That means Obamacare has helped the health care industry as well.
A Kaiser Family Foundation survey found that in 2019, the share of people who said they had enrolled in health insurance through the ACA rose from 24% to 29% while the share who had not enrolled in ACA health plans rose from 18% to 22%.
In addition, Avalere found in 2019 that the average premium for a family of four in 2018 was $6,957, compared to $6.8 million in 2019 and $639,000 in 2020.
This means that people are spending more on health insurance than they have ever before, and Avalere says that this could continue well beyond the end of the year.
The health care market has been one of the biggest stories of the presidential election, and it will be interesting to see how much more people are going to get out of it.