By Ricky Zipp
November 2, 2022 at 6:00 am ET
As the 10th enrollment period for Affordable Care Act insurance coverage begins this week, a new Morning Consult/Politico survey shows that a slim majority of registered voters still approve of the landmark health care legislation.
Open enrollment for 2023 coverage plans began Tuesday, and the majority of enrollees are likely to see little change in premiums due to recent legislation. In August, President Joe Biden signed the Inflation Reduction Act into law, which extended increased premium subsidies for insurance plans in the ACA marketplace through 2025. The subsidies were originally put in place as part of the American Rescue Plan Act of 2021, a $1.9 trillion COVID-19 stimulus package.
The Commonwealth Fund said that the extension of subsidies in the IRA will “prevent an estimated 2 million people from losing coverage and help millions of others avoid premium increases as they grapple with rising prices elsewhere.”
Meanwhile, premiums for employer-sponsored insurance remained stable this year compared with 2021 as wages and inflation increased, according to a recent survey from the Kaiser Family Foundation. The average cost for family and individual coverage was $22,463 and $7,911, respectively.
While premium prices remained relatively flat this year, this has not always been the case. KFF said the average premium for family coverage has increased by 20% over the past five years and 43% over the past 10 years. Experts are now warning that insurance costs for employer-sponsored plans may increase in 2023 as inflation persists.
The latest Morning Consult/Politico survey was conducted Oct. 28-31, 2022, among a representative sample of 2,005 registered voters, with an unweighted margin of error of plus or minus 2 percentage points.