Just a quick note regarding the re-enrollment rates of Obamacare plans in 2016.
In 2016 roughly 7.8 Million people re-enrolled in their Obamacare plans nationally out of 8.8 Million that were still enrolled through the 2015. This represents a 89% renewal rate.
For comparison purposes, in 2015 6.1 Million policies were renewed out of 6.3 Million policies effective through the end of 2014. A renewal rate of 97%
This change in Obamacare re-enrollment rate might seem slightly alarming, but it should be noted that there was some marketplace and rating volatility that have have contributed to the lack of re-enrollment.
It has been well documented that some of the larger private health insurance companies (including many Blue Cross Blue Shield plans, and United HealthCare) have struggled to achieve profitability in this new market environment and significant rate increases have resulted in many cases. This was likely a large driver in many families shopping for more affordable health coverage.
In addition, some health plans have chosen to stop participating in the exchange marketplaces, these decisions required families to find new coverage. Co-op health plans in particular were shuttered in many states.
In short, as the market stabilizes, it is likely that re-enrollment rates rebound.