The Inflation Reduction Act has played a role in making health insurance on the Marketplace more affordable.
The ACA Marketplace has seen 11.5 million people enroll in a health plan this year, marking an 18% increase from 2021, HHS announced.
In total, that increase represents about 1.8 million more people as of December 15, which is the deadline for coverage starting January 1, 2023.
The boost in enrollment signals the Biden administration's commitment to making health insurance more affordable and accessible.
"Unprecedented investments lead to unprecedented results. Under President Biden's leadership, we have strengthened the Affordable Care Act Marketplace with continued record affordability, robust competition, and historic outreach efforts – and today's enrollment numbers reflect that," said HHS secretary Xavier Becerra.
"Thanks to the Inflation Reduction Act, four out of five customers will be able to find a plan for $10 or less. As we head into the new year, there is no greater gift than the peace of mind that comes with having high-quality, affordable health care."
Through the Inflation Reduction Act, individuals will continue to receive enhanced tax credits to purchase health insurance.
Meanwhile, 92% of HealthCare.gov enrollees will have the option to choose from three or more insurance companies they shop for plans, HHS stated.
Marketplace Open Enrollment is still open until January 15, 2023, with coverage options made by that deadline going into effect beginning February 1, 2023.
The second Marketplace snapshot by CMS showed 5.5 million plan selections, an increase from 4.6 million year over year. Those selections included 1.2 million new enrollees and 4.3 million who had renewed coverage from both HealthCare.gov and the state-based Marketplaces.
Jay Asser is the contributing editor for strategy at HealthLeaders.