Key things to know as ACA open enrollment begins

WASHINGTON (AP) — People preparing for the Affordable Care Act open enrollment period to buy insurance should brace for several changes in the coming coverage year, including higher premiums and fewer plan choices.

The marketplace sign-up period, commonly called Obamacare, begins in most states this weekend and continues through Jan. 15.

Among the major shifts are the end of some financial assistance, higher rates, possible delays when working with brokers, tighter restrictions for immigrants and stricter enrollment verification.

Premium tax credits and cost-sharing reductions are now limited for many people who used to qualify for aid.

Overall, health policy experts expect coverage to shrink and prices to climb. KFF, a health research nonprofit, said analysis of new CMS data points to an average 13% increase in the cost of health insurance bought through the marketplaces in the upcoming year.

Several factors are pushing costs higher

Cynthia Cox, a vice president and director of KFF’s ACA program, said the increase is being driven mainly by higher medical costs and hospital consolidation, along with possible effects from the No Surprises Act, which took effect in 2022 and bars surprise billing, and the growing use of GLP-1 drugs.

People who do not qualify for subsidies are likely to feel the impact most acutely.

“They may or may not be able to afford to continue to keep their coverage into next year,” Cox said, adding that “a lot of them have already moved into bronze plans, which are the cheapest plans.”

A CMS fact sheet on open enrollment distributed recently says “Americans using HealthCare.gov will have robust access to low-cost plans.”