Home Industries Health Services HealthSourceRI open enrollment closes with record 34,456 customers

HealthSourceRI open enrollment closes with record 34,456 customers

Updated at 5 p.m. on April 17.

By

Katie Castellani

-

04/16/2024

Print — HEALTHSOURCE RI, the state’s health insurance market place, announced Tuesday that it closed out its open enrollment period with a record 34,456 customers signing up for health care.

PROVIDENCE – HealthSource RI, the state’s health insurance market place, announced Tuesday that it closed out its open enrollment period with a record 34,456 customers signing up for health care. This marks an improvement from last year when HealthSource saw an expected decrease in enrollment with 28,661 customers. Of those enrolled during the most recent

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PROVIDENCE – HealthSource RI, the state’s health insurance market place, announced Tuesday that it closed out its open enrollment period with a record 34,456 customers signing up for health care. This marks an improvement from last year when HealthSource saw an expected decrease in enrollment with 28,661 customers. Of those enrolled during the most recent period, 9,538 Rhode Island residents are newly enrolled in the affordable qualified health plans. Another 24,917 people, or 76% of last year’s customers, renewed their coverage during the enrollment period which ran from Nov. 1, 2023 to Jan. 31, 2024. Also, HealthSource RI said its enrollment has continued to rise since the open period ended, with 39,273 paid enrollments as of April 1. This record enrollment also comes as there’s rise in federal and state-based enrollment, which reached more than 21 million by Jan. 31, according to a news release. “HealthSource RI is a vital resource for the people of Rhode Island, offering an accessible, affordable way to stay connected to quality coverage through a variety of life changes,” said Gov. Daniel J. McKee. “We as a state are proud of our position as a leader in health coverage, and with the collaboration between HSRI and our RI Medicaid program, we are making that direct connection for so many.” Since Medicaid renewals resumed in April 2023, HealthSource RI says it transitioned more than 14,000 former Medicaid customers to qualified health plans within the marketplace. “HealthSource RI is here to help Rhode Islanders get and stay connected with quality, affordable health coverage,” said HSRI director Lindsay Lang. “Along with our colleagues across the country celebrating 21 million covered under the Affordable Care Act, HSRI is thrilled that we’ve surpassed our previous years’ enrollments and are still growing, welcoming these 9,539 new customers and more. Whatever the reason, when Rhode Islanders need health coverage, we hope that they continue to think of HealthSource RI as their first, best option to take advantage of all the options and supports we can offer.” Also, since 2013 HealthSource RI says it decreased the uninsured rate by more than two-thirds and as of 2022 97% of Rhode Islanders had coverage, representing some of the highest insured rates in the country. HealthSource RI helps Rhode Island access affordable health insurance and is the only place Rhode Islanders can receive Advance Premium Tax Credits to help pay for health coverage. Currently six of seven HealthSource RI customers receive financial assistance and tax credits help to shield customers from rising costs. The average premium before tax credits across all active plans is $549, but that drops to $106 per months with tax credits, which is around $4 less than last year. Also, around 32% of HealthSource RI customers pay less than $10 per month for coverage, according to a news release. Now HealthSource RI’s annual open enrollment has completed, those who have faced certain life events may be eligible to shop for a new plan during a Special Enrollment period. This is a 60 day window to enroll beginning before or after that event. The qualifying events include: loss of other medical coverage, including Medicaid, moving into Rhode Island, getting married or divorced or having or adopting a child. Katie Castellani is a PBN staff writer. You may contact her at Castellani@PBN.com. (Correction: An earlier version of this story mischaracterized the decline in enrollment last year. It was an expected decline.)