On April 17th, President Obama announced that eight million people signed up for private health insurance coverage through the insurance marketplaces established by the Affordable Care Act (“ACA”) during the open enrollment period of October 1st through March 31st. This number exceeds the Congressional Budget Office’s original projection of seven million individuals. While the numbers of individuals who are considered enrolled in the exchanges has exceeded expectations, not everyone who has signed up has paid his or her premium, so the enrollment figures may decrease slightly.
Further information indicates that 28 percent or more of the individuals who signed up through the Healthcare.gov website were between the ages of 18 and 34 years old. Having a significant number of younger, healthier Americans enrolled in the exchanges is considered vital to the success of the program. Another five million individuals enrolled in ACA-compliant healthcare plans outside of the government-run insurance exchanges. In addition, three million additional individuals have enrolled in Medicaid or CHIP programs through February. Many of the Medicaid enrollments occurred in states that have expanded the eligibility requirements for Medicaid.
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