Why Is the ACA so Successful in the 2018 OEP?

Great First Strides

Since November 1st, the Affordable Care Act (ACA) has been opened up for the 2018 Open Enrollment period. The ACA is the health care reform law in America and is often coined as Obamacare. Since opening up for enrollment, the ACA has seen an extraordinary rise in enrollments. With spending less money on advertising, officials at CMS are puzzled on why the sign-ups have increased so significantly. In the first week of enrollment, over 600,000 new applicants signed up for an Obamacare. That was an average of nearly 150,000 per day during the first week. Of the total number of applicants over the first week, 23 percent of the enrollees were new to the marketplace and did not have coverage. Compared to an estimated 66,000 and 77,000 the year before that, it seems the growth will continue for record numbers.

Success Reasons

So who in the insurance world is making all the buzz? It seems that companies such as Anthem and United Healthcare Group are on a steady incline for pretty good numbers compared to previous years. Both Anthem and UHC have an increase of around 15% in the first 2 weeks of enrollment. With other companies, such as Blue Cross Blue Shield, Molina, and Ambetter, the ACA enrollment is up by at least 47% from the same period as last year.

After being basically gutted by President Trump’s committee, we ask the question again – why is the ACA looking so great now? A lot of the success of this ACA year is partly because of the use of broker agents. Insurance agents are experts on multiple products and can help find whats best for clients. Since the insurance agents are determined to find clients, their clients will benefit most from an ACA plan.

Healthcare Alternatives

The best thing about the ACA is that you have options out there for you to choose from. However, you won’t know which is the right option for you until you get with an agent. If you have a personal agent get with them and discuss the pros and cons of having an ACA plan. If it could match your current plan it may be time for you to switch over, especially because of the coverage you would receive on the ACA. Also, ask your agent about possible subsidies to lower the total plan cost. Stay tuned for updates on the ACA, as of the current OEP its looking like the ACA is looking up.

Since insurance is often times overwhelmingly confusing, we want to shed light on this industry by answering YOUR questions.  So if you have any questions or concerns, comment below and your question may be the topic of our next video!

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