Affordable Care Act (ACA) Health Insurance Open Enrollment is in full swing, and if you haven’t been keeping up with all the changes, you may be pleasantly surprised about some of the latest enhancements and changes designed to save money while expanding coverage to millions more Americans.
Many people will see lower premiums through 2025, thanks to provisions in the Inflation Reduction Act, which extends financial help first put in place by the American Rescue Plan. On average, about 50 million consumers who receive premium tax credits through the federal insurance exchange save about $800 a year, according to Xavier Becerra, secretary of the Department of Health and Human Services (HHS). Some 4.6 million more people received financial help in 2023 compared to 2021, he notes.
