People with very low income will have added time to enroll Otherwise, the extended Open Enrollment will leave a short window (until January 15) when consumers can still make changes. All marketplace enrollees are encouraged to update their application during Open Enrollment, even if personal circumstances have not changed, so they can see all current plan and financial assistance options. More than 800,000 enrollees were in zero-premium bronze plans at the end of Open Enrollment for 2021, and many of them would be better off in silver plans with the new ARPA subsidies. While the marketplace automatically adjusted subsidies for many current enrollees at the end of the COVID-SEP, it could not apply more help to people already in zero-premium bronze plans. That means someone now enrolled in the 2021 benchmark plan who is passively renewed could see unexpected monthly premium cost increases if another plan gains benchmark status in 2022 and costs less.Įnrollees who did not take advantage of new ARPA subsidies when those subsidies came online this year could also miss out if they don’t actively renew. For example, if the benchmark plan changes from one year to the next (e.g., due to entrance of new insurers), the dollar value of tax credits, which are tied to the cost of the benchmark plan, can also change. ![]() However, passively renewing can sometimes put consumers at a disadvantage. Over the last three Open Enrollment periods, about 40% of returning marketplace participants were auto-re-enrolled. In most states, if enrollees have not updated their application and plan selection for 2022, the marketplace may auto-re-enroll them in their current plan or a similar plan for the coming year. The KFF subsidy calculator helps people estimate the amount of financial assistance based on their age, income, family size, and zip code. ARPA premium tax credit changes are temporary, ending after 2022, although legislation to make them permanent is pending in Congress. Before, for older consumers, the age-rated premium for benchmark plans could easily cost more than 20% of household income. Now these consumers must contribute no more than 8.5% of income toward the benchmark silver plan. For people up to 150% FPL, cost sharing subsidies also substantially reduce deductibles and copays under zero-premium silver plans, making them similar to platinum plans.ĪRPA also extended eligibility for premium tax credits to reach people with income over 400% FPL ($51,520 for a single person in 2022, $87,840 for family of 3). Before, consumers at 150% FPL had to pay more than 4% of household income for the benchmark plan. The dollar amount of premium tax credits increased and now fully cover the cost of enrolling in the benchmark silver plan for consumers with income up to 150% FPL. ![]() Improved marketplace subsidies continue and will reduce net premiums for most consumersĮxpanded marketplace premium subsidies, enacted under the American Rescue Plan Act (ARPA), took effect in 2021 and remain in effect for 2022. On average, consumers in states will have a choice of nearly 83 qualified health plans in 2022, compared to an average of 46 plans in 2021. Competition by insurers can sometimes change the so-called benchmark plan (the second-lowest cost silver plan, on which marketplace subsidies are based) if a new silver plan earns this designation in 2022. In states, 32 additional insurers will offer marketplace coverage, bringing the total to 213. In addition, the number of insurers participating in the marketplace will increase in 2022. In states, the average benchmark plan premium will be about 3% lower than in 2021, while in some state-based marketplaces, qualified health plan premiums will increase modestly, on average. ![]() ![]() Plan choices and premiums will change in 2022Īs happens every year, premiums for marketplace plans will change somewhat in 2022. State-run marketplaces have flexibility to hold even longer OE periods and some will do so. Signing up later generally means coverage will start February 1. That said, people should still sign up by December 15 if they want coverage to take effect on January 1. In recent years, in the states, it has lasted only 6 weeks but now it will run from Novemthrough January 15, 2022. In most states, the Open Enrollment period will be longer this time. Even as the ninth annual Open Enrollment period gets underway, the Affordable Care Act (ACA) Marketplaces continue to evolve and important changes are expected.
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