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The State of Exchanges

THE STATE OF EXCHANGES A guide to how health insurance exchanges work, who is using them, and what it means for consumers in 2014 90% EXCHANGE ENROLLMENT IN THE SHOP & INDIVIDUAL EXCHANGES 12 MILLION Will receive subsidies in 2014 Americans are expected to begin purchasing health insur- ance through newly created marketplaces known as exchanges May range from a low of 11 million in 2014 to a high of 32 million in 2021 The size of the exchange market is expected to more than double by 2021, marking the single largest expansion of health coverage in the USA since the creation of Medicare in 1965 40% OF TOTAL INDIVIDUAL EXCHANGE ENROLLEES Are expected to come from just 5 states CALIFORNIA TEXAS FLORIDA NEW YORK ILLINOIS 75% OF EXCHANGE POPULATION DROPPING COVERAGE Employers have a $2,000 fine per full-time employee for dropping coverage, under the ACA (Affordable Care Act) Do not have a college degree compared to 60% of today's private insurance market WITHIN THE FIRST 7 YEARS OF OPERATION 25 MILLION Slated to receive individual coverage have a median age of 33 and report being in good health State insurance exchanges are projected to translate into a $205 billion market opportunity for the health sector 60% OF ADULTS 60% Will have incomes at or below Federal Poverty Level ($46,100 for a family of four), however this number is expected to drop to 35% in 2021 Entering exchange market are employed full-time 47% OF CONSUMERS SURVEYED IN 2014 JAN Indicated a willingness to pay a higher price for additional insurance features such as 2014 16% of individual exchange population will have incomes above 300% of Federal Poverty Level, this portion rises to 35% in dental or vision coverage 2021 75% of public exchange enrollees will be newly insured A Healthcare Trends Institute © Copyright 2013. Healthcare Trends Institute. ALL ABOVE DATA TAKEN FROM, "Health Insurance Exchanges" by Ceci Connolly and Jeff Gitlin, March 17th, 2013, AHA Health Forum, Trustee Magazine

The State of Exchanges

shared by healthcaretrends on Oct 02
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A guide to how health exchanges work, who is using them, and what it means for consumers in 2014.


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