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More Get Subsidized Coverage Thanks to Inflation Reduction Act

By Bruce Japsen

Already at record enrollment of more than 16 million, even more Americans are expected to sign up for individual coverage under the Affordable Care Act, known as Obamacare, for 2024.

The Kaiser Family Foundation (KFF) says enrollment is rising in large part because more Americans are eligible for federal subsidies that make coverage more affordable. The health insurance market in the Chicago area and across the country is also more stable with health insurers including CVS Health’s Aetna, Blue Cross and Blue Shield of Illinois, Cigna and others maintaining their presence in the Chicago market while some are entering new markets beyond the city of Chicago like Oscar Health, which disclosed last month it was expanding offerings into rural areas.

Open enrollment began Nov. 1 for coverage that starts January 1, 2024.

Read more here.

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