As the 10th enrollment period for Affordable Care Act insurance coverage begins this week, a new Morning Consult/Politico recording shows that a slim majority of registered voters still approve of the landmark health care legislation.
ACA open enrollment begins after extension of premium subsidies secured by Biden, Democrats
Open enrollment for 2023 coverage plans began Tuesday, and the majority of enrollees will likely see little change in premiums due to recent legislation. In August, President Joe Biden undersigned enacted the Inflation Reduction Act, which extended increased premium subsidies for insurance plans in the ACA marketplace until 2025. The subsidies were originally introduced as part of the US Rescue Plan Act of 2021, a $1.9 trillion COVID-19 stimulus package.
The Commonwealth Fund said that expanding subsidies in the IRA would “prevent an estimated 2 million people from losing coverage and help millions more avoid premium increases while struggling with rising prices elsewhere.”
Meanwhile, premiums for employer-sponsored insurance remained stable this year compared to 2021 as wages and inflation increased, according to a recent survey from the Kaiser Family Foundation. The average cost for family and individual coverage was $22,463 and $7,911, respectively.
Although premium prices remained relatively flat this year, this was not always the case. KFF said the average premium for family cover has risen by 20% in the past five years and by 43% in the past 10 years. Experts are now warning that insurance costs for employer-sponsored plans may rise in 2023 as inflation continues.
The latest Morning Consult/Politico recording was conducted October 28-31, 2022, among a representative sample of 2,005 registered voters, with an unweighted margin of error of plus or minus 2 percentage points.