Figures released today by the U.S. Department of Health and Human Services show North Carolina exceeded federal targets during the first three months of open enrollment in the Health Insurance Marketplace.
More than 107,000 North Carolinians—about 6,400 of whom were children under 18—selected a private health insurance plan in the federal Marketplace between October 1 and December 28, 2013, eclipsing the administration’s goal of 57,300 enrollees during that period. An additional 31,000 North Carolinians who applied for private health insurance in the Marketplace were found to be eligible for Medicaid or the Children’s Health Insurance Program (CHIP).
Figure 1. Percentage of Enrollment Target Set by the Obama Administration
|
North Carolina |
United States |
|
|
Second month |
28% of goal |
30% of goal |
|
Third month |
120% of goal |
63% of goal |
Source: U.S. Department of Health and Human Services, Office of the Assistant Secretary for Planning and Evaluation (2014). Health Insurance Marketplace: January Enrollment Report. Retrieved from: http://aspe.hhs.gov.
Enrollment in North Carolina jumped from 8,900 at the end of November as outreach efforts intensified, technical glitches with HealthCare.gov, the online portal for the federally-administered Marketplace, were resolved, and families rushed to meet the December enrollment deadline for coverage starting in January 2014.
Among those who selected a private health insurance plan in North Carolina:
- 6% are children.
- 57% are female.
- 89% qualified for subsidies (compared to just 79% nationally).
- 70% chose a silver plan, compared to 16% who chose the lowest level of coverage, the bronze plan.
All Eyes on the ‘Young Invincible’
North Carolina is on track to meet or exceed the administration’s 2013-2014 enrollment target by the March 31st cutoff, the last day under Affordable Care Act guidelines for individuals to sign up for coverage to avoid a penalty during the 2014 tax season. No doubt analyst, insurers, and federal health officials will be closely watching the age of enrollees in coming months. Roughly one-third of people who have selected Marketplace plans in North Carolina are between 55-64, compared to just 23 percent who are among the key 18-34 demographic, the so-called “young invincibles” whose age and good health help keep premiums low in risk pooling. If the proportion of young adults continues to lag behind, the total amount of premiums collected by insurers will be less than overhead and health care expenses and insurers may raise premiums, or drop out altogether, to compensate for their loss.
Figure 2. Marketplace Enrollment by Age, October 1 to December 28
Source: U.S. Department of Health and Human Services, Office of the Assistant Secretary for Planning and Evaluation (2014). Health Insurance Marketplace: January Enrollment Report. Retrieved from: http://aspe.hhs.gov.
Nationally, 2.1 million people have selected private coverage through the Marketplace, up from just 364,600 at the end of November. For more on national enrollment figures, read this article in the New York Times.