In an effort to keep the uninsured at a record low, millions of Americans can begin choosing their health insurance plans at HealthCare.gov today.
The extension of subsidies will largely protect those seeking coverage from increased costs. Last year, as part of the $1.9 trillion Coronavirus relief law, this extension was implemented.
With the breaks, most people who enroll will pay no or a few dollars a month for premiums.
"Everyone is realizing that they can get affordable health insurance," said Health and Human Services Secretary Xavier Becerra.
The Affordable Care Act, which was passed under the Obama administration, provides health insurance coverage to 14.5 million Americans.
The majority of consumers -- 92% -- will be able to choose from three insurers when selecting coverage.
However, some areas still have difficulty accessing health care. There are at least nine states where only one insurer will sell plans in the ACA marketplace next year in one or more counties.
According to Massey Whorley, a principal at health consulting firm Avalere, the extension of more generous subsidies through 2025 helped avert sticker shock from expected increases.
Families that previously could not afford private plans on the marketplace now have access to them because of the larger subsidies. According to data released last week by the Centers for Medicaid and Medicare, a family of four with an income of $69,375 paid $0 in premiums last year. Enrollees' premiums are also capped at 8.5% of their incomes.
As of August, only 8% of Americans lacked health insurance, a record low.
According to new HHS data, Black and Latino enrollment in the ACA increased dramatically this year. There were 1.3 million black enrolled last year, up from 900,000 the year before, while the number of Latinos enrolled jumped from 1.7 million to 2.6 million.
As a result of increased spending on navigators who help people sign up for coverage nationwide, the Biden administration has seen a boost in enrollment.
Health insurance navigators in Richmond, Virginia, already had appointments booked with people ready to discuss their health care options next year.
"Every year, plans and options change, so it's imperative to ensure you are still enrolled in the plan that ideally fits your needs."
During the open enrollment period, Delaware residents will have the option of choosing from more than one health insurer for the first time.
During the enrollment period, which runs through Jan. 15, health care experts do not expect big gains. To start receiving coverage in the new year, enrollees must sign up by Dec. 15.