Key Takeaways
The 2024 Open Enrollment Period (OEP) saw a total of 21,446,150 Marketplace plan selections, with HealthCare.gov recording 16,363,133 and State-based Marketplaces (SBMs) seeing 5,083,017 selections.
Plan selections rose 31% from 2023 to 2024, adding 5.1 million more enrollees, with a cumulative 79% increase from 2021 to 2024, resulting in 9.4 million new enrollments.
92% of consumers received Advance Payments of the Premium Tax Credit (APTC) in 2024, with the average monthly premium after APTC at $111, a 32% reduction from $164 in 2021.
Almost 100% of consumers below 150% of the Federal Poverty Level (FPL) could access plans at $0 or near-$0 in 2024.
The average healthcare cost per person has risen from $150 annually in 1960 to approximately $13,000 per year today.
1. Open Enrollment Timing and Duration
77% of employers initiate open enrollment in October or November, marking these as the peak months for enrollment activities.
52% of employers set a two-week enrollment period, with three-week and four-week periods as other commonly chosen durations.
2. Consumer Engagement and Behavior
On average, employees dedicate 18 minutes to benefit enrollment, a stark contrast to the four hours spent selecting a new smartphone.
New consumer plan choices for 2024 account for 24% of enrollments nationwide.
45% of consumers actively returned to select their plan in 2024, while 31% were automatically re-enrolled.
3. Enrollment Volume and Growth
The 2024 Open Enrollment Period (OEP) saw a total of 21,446,150 Marketplace plan selections.
HealthCare.gov Marketplaces recorded 16,363,133 plan selections, and State-based Marketplaces (SBMs) saw 5,083,017 plan selections for 2024.
Plan selections rose 31% from 2023 to 2024, adding 5.1 million more enrollees.
A notable 48% growth from 2022 to 2024 added 7 million new selections, and a 79% increase from 2021 to 2024 brought 9.4 million new enrollments.
5,215,764 new consumers enrolled in 2024, marking a 41% jump from the 3,699,749 new consumers in 2023.
Returning enrollees hit 16,230,386 in 2024, up 28% from 12,657,281 in 2023.
A total of 38,036,483 Marketplace applications were submitted for 2024 OEP.
68% of applicants were eligible to select a Marketplace plan in 2024.
4. Financial Aspects and Premiums
92% of consumers received Advance Payments of the Premium Tax Credit (APTC) in 2024.
The nationwide average monthly premium after APTC stands at $111 for 2024, a 32% reduction from $164 in 2021.
44% of consumers chose plans costing $10 or less per month after APTC, reaching nearly 9.4 million enrollees.
HealthCare.gov’s average monthly premium after APTC is $81 in 2024, showing a 43% drop from $143 in 2021.
On HealthCare.gov, 51% of consumers selected plans costing $10 or less monthly after APTC.
For SBM consumers, the average monthly premium post-APTC is $207, with 20% choosing plans for $10 or less.
APTC recipients in 2024 saved an average of $59 monthly, totaling $705 annually due to the ARP/IRA.
48% of HealthCare.gov consumers in 2024 saw savings from the IRA’s expanded APTC.
Almost 100% of consumers below 150% of the Federal Poverty Level (FPL) could access plans at $0 or near-$0 in 2024.
Among HealthCare.gov users, 42% selected $0 premium plans post-APTC in 2024, up from 32% in 2023.
5. Plan Selections by State and Regional Differences
The states with the highest plan selection growth from 2023 to 2024 include West Virginia (80%), Louisiana (76%), Ohio (62%), Indiana (60%), and Tennessee (59%).
States with the smallest increases are California (3%), Nevada (3%), Hawaii (2%), Oregon (2%), and the District of Columbia (0%).
Maine saw the only decline, with a 1% decrease in plan selections from 2023 to 2024.
In 2024, non-expansion Medicaid states contributed over half of the total plan selections during OEP.
6. Demographics of Enrollees
22% of enrollees in 2024 identified as Hispanic/Latino.
9% of enrollees identified as Black.
44% of consumers fell within the 100%-150% FPL income range in 2024.
7. Basic Health Program Enrollment
1,302,034 individuals enrolled in the Basic Health Program (BHP) during the 2024 OEP, marking a 33% rise from 975,337 in 2021.
Minnesota's BHP enrollment grew by 9% from 2023 to 2024, while New York saw a 7% increase in the same period.
8. Historical Cost Comparison
In 1960, the average healthcare cost was $150 per person annually.
Today, the average healthcare cost has surged to approximately $13,000 per person per year.
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