Record number of Americans signing up for Obamacare

More than 15 million people have signed up for health insurance plans offered on the Affordable Care Act's federal marketplace, a 33% increase compared with the same time last year, according to preliminary data released by the Biden administration Wednesday.

Federal health officials project that more than 19 million people will enroll in 2024 coverage by the end of the current enrollment period next month. That total would include those who gain coverage through state marketplaces, continuing the record-setting pace.

“It means more Americans have the peace of mind of knowing that going to the doctor won't empty their bank account,” Xavier Becerra, the health and human services secretary, said in a statement.

Despite a recent warning from former President Donald Trump, the frontrunner in the race for the 2024 Republican presidential nomination, that he was “seriously looking at alternatives” to the Affordable Care Act, the latest surge in marketplace enrollment is a testament to the law's enduring power.

Legislation passed earlier in the COVID-19 pandemic increased federal subsidies for people buying plans, lowering the costs for many Americans. The Biden administration also lengthened the sign-up period and increased advertising for the program and funding for so-called navigators who help people enroll.

“More and more people are realizing they can come onto the marketplace,” said Cynthia Cox, the director of the Program on the Affordable Care Act at KFF, a nonprofit health policy research group.

On Dec. 15 — the deadline to sign up for coverage that begins Jan. 1 — nearly 750,000 people opted for a marketplace plan on HealthCare.gov. It was the largest single-day total yet.