With less than two weeks to go until the end of this season’s open enrollment period, and with 4 of the 13 remaining days falling on a weekend, there’s not much time left to sign up for health insurance and apply for a government subsidy. And, just like last year, many are expecting a huge surge in enrollments right before the deadline.
Modern Healthcare is reporting that “providers, insurers, community health centers and not-for-profit groups around the nation that are helping Americans sign up for exchange coverage under the Patient Protection and Affordable Care Act are working overtime leading up to the Feb. 15 open-enrollment deadline.” The article points out that a lot of people wait until the last minute, so that should help pad this year’s enrollment numbers.
During the initial enrollment period last year, many of the last-minute enrollees were young people that the administration and insurance companies desperately needed to sign up. A similar trend is expected this year, which is why much of the attention has been focused on millenials in the last few days, including the National Youth Enrollment Day last week.
As of mid-January, 9.5 million people had signed up for qualified coverage. The final number could top 11 million. For brokers with a private exchange site, the last two weeks of open enrollment present a huge opportunity to bring in additional sales that will increase their income all year long.