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Building on the ACA: Improving Affordability for Marketplace Enrollees

Posted
Press Releases, Health Care, National

FOR IMMEDIATE RELEASE
April 10, 2024
Contact: Emma Bittner
(972) 510-3395 | Emma.Bittner@younginvincibles.org

Building on the ACA: Improving Affordability for Marketplace Enrollees

New Report Urges Action to Reduce Cost Sharing for Enrollees

(Washington, DC) – The Affordable Care Act (ACA) dramatically changed the private insurance landscape, providing health coverage for millions. The success of the ACA and efforts to build on it show that strategic policy interventions can significantly improve health coverage affordability, particularly for communities that struggle the most with access. 

But to fully realize the ACA’s potential and build on this success, further improvements are needed. Enrollees in ACA marketplace plans — like others with private health insurance, including employer sponsored insurance — continue to struggle to obtain care due to high out-of-pocket costs, such as deductibles, coinsurance, and copayments.  These affordability challenges have a pronounced impact on access to care and economic security, especially for people with low incomes and members of certain racial and ethnic groups who have faced barriers to robust health coverage. A new report from the Center on Budget and Policy Priorities (CBPP) sheds light on these challenges and provides a vision, built on the strong foundation the ACA provides, for marketplace coverage that enrollees can afford to use.

CBPP’s new report – which reflects findings from the Marketplace Affordability Project (MAP), an 18-month initiative from CBPP with supported in part by the Robert Wood Johnson Foundation – focuses on a set of policy proposals that would:

  • Ensure affordable premiums;
  • Reduce cost-sharing;
  • Strengthen coverage requirements;
  • Create federal backstops for coverage; and
  • Simplify plan options and enrollment pathways.

These proposals were informed by marketplace enrollees; people who provide marketplace application and enrollment assistance; patient groups; national groups representing specific racial, ethnic, disability, and age constituencies; and health policy experts. Young Invincibles was honored to participate and contribute to this report, offering our expertise in crafting policy recommendations that ensure health care is accessible and affordable for young adults.

The ACA laid an important foundation for coverage, including by providing unprecedented access to an individual market that had been out of reach for millions of people without the law’s protections and financial assistance to make coverage affordable. 

In response, Martha Sanchez, Director of Health Care Policy and Advocacy at Young Invincibles said: 

“Young adults have historically faced numerous barriers to accessing quality, affordable health coverage and care. The Affordable Care Act (ACA) drove a historic expansion in health coverage and reduced costs for low- and moderate-income people. Medicaid expansion, the ability to stay on their parents’ coverage until the age of 26, and the creation of the ACA marketplaces have all provided more opportunities for young people to enroll in coverage. 

With over 5.7 million young adults enrolling in the ACA this year, a nearly 40 percent increase from the previous Open Enrollment period, now is the time to forge a path forward to help those enrollees who struggle to afford health coverage and care by making both premiums and cost sharing affordable for people. As the report highlights, this is especially important for over half of young adults who are battling at least one chronic condition or mental health issue.

The ACA was a major step forward for health coverage in America – but we cannot rest until everyone can access quality and affordable health coverage and care.”

To learn more, please visit: https://www.cbpp.org/MAP-Report

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Young Invincibles (YI) is a national advocacy and policy nonprofit organization focused on amplifying the voice of young people in the political process at the local, state, and federal levels. YI focuses on issues impacting young adults ages 18 to 34 in higher education, health care, economic security, and civic engagement. Our offices include Washington, D.C., California, Colorado, Illinois, New York, and Texas. For more information, please contact Emma Bittner at (972) 510-3395 or emma.bittner@younginvincibles.org