Obamacare Exchange/Marketplace Updates, 2016

• The Congressional Budget Office sharply reduced estimates on Marketplace/Exchange enrollment from 21 million to 13 million. 
• 11 million are expected to receive a subsidy. 
• The average enrollee has 72% of his/her premium subsidized. 
• On average, subsidies are $272 per month or $3,264 per year. 

• 1.6 million of those taxpayers ultimately had to pay money back to the government because their actual incomes were higher than they had projected when they signed up for a plan on the Marketplace. The average amount repaid was about $800.

• Centers for Medicare and Medicaid Services has begun to limit Special Enrollment Period (SEP) entry – SEP individuals are utilizing 55% more services than open enrollment counterparts. 

• The largest U.S. health insurer, United Health Care, said it has suffered major losses on policies sold in the Marketplace and is contemplating an exit. 

• Some state-run exchanges are seeing large rate increases by Blue Cross/Blue Shield plans –
• 47% in Minnesota, 
• 36% in Tennessee. 

• The average deductible for individual and family silver plans on the Marketplace is $2,927 and $6,010. 
• A study by the Kaiser Family Foundation found that less than one-fifth of low-income families can afford their high deductibles and 
• only about half of middle-class families can.

• Employers are sticking with plans – 
• in 2015, only 7% of employers with 50-499 said likely to terminate plans within five years (vs. 21% in 2013); 
• 5% of employers with 500+ said likely to terminate.