Industry News

Financial Boost for Marketplace

A record 14.5 million people got coverage through the marketplaces for 2022. This was, in part, due to Congress authorizing enhanced financial assistance as part of COVID_19 relief. In an effort to rebuild support for the exchanges, a law was signed in August to extend those larger subsidies for another three years. In addition, health insurance exchange navigators will receive a record $98.9 million in grants for the 2023 open enrollment period. Navigators help consumers or small employers browse health coverage options and apply for financial assistance from the federal health insurance exchanges in the 33 states served by HealthCare.gov. [Modern Healthcare, August 2022]