EAST PROVIDENCE – HealthSource RI, the state’s health insurance marketplace, reported a decrease in customers during its latest open enrollment period.
This year’s open period saw 28,661 individuals sign up for health coverage, down from 31,445 that enrolled in 2022. During the open enrollment period which began in Nov. 2022 and ended on Jan. 31, 2023, 4,318 new customers signed up for one of the insurance’s plans, while 24,343 individuals, or 83% of last year’s customers, renewed their coverage.
HealthSrouce RI said this was an “expected decrease,” as many Rhode Islanders remained insured through Medicaid plans during the COVID-19 pandemic. But as the Medicaid program returns to normalcy and begins renewals, HealthSource RI said they are “prepared to welcome likely thousands of new and returning customers.”
“HealthSource RI is here to help Rhode Islanders get and stay covered with quality, affordable health coverage,” said HSRI Director Lindsay Lang. “I’m thrilled we’ve been able to do that for over 4,000 new customers this year, and look forward to assisting anyone looking to continue their coverage after Medicaid in the months ahead.”
HealthSource RI noted that its second-lowest-cost silver plan has an average premium of $379/month before tax credits in 2023, which is 18% lower than the national average and sixth lowest in the country.
As of 2022, 97% of Rhode Islanders have health insurance coverage. HealthSource RI helps Rhode Islanders find affordable health insurance and offers financial assistance to help pay for coverage. In 2023, 84% of HealthSource RI customers received financial assistance and customers qualified for nearly $9.6 million in Advance Premium Tax
Credits.
“We’re encouraged that each year more Rhode Islanders are taking advantage of the quality, affordable coverage options available to them through HealthSource RI,” said Gov. Daniel J. McKee. “Rhode Island continues to be a national leader in health coverage and HSRI is an instrumental piece of the effort to maintain our extraordinarily high rate of insurance coverage.”
Claudia Chiappa is a PBN staff writer. You may contact her at Chiappa@PBN.com.
