U.S. Department of the Treasury Releases New Data Showing Nearly 50 Million Americans Have Been Covered Through Affordable Care Act Health Insurance Marketplaces Since 2014

1 in 7 U.S. residents covered through Affordable Care Act health insurance marketplaces over the last decade, with all-time high enrollment under Biden-Harris Administration

WASHINGTON – Today, the U.S. Department of the Treasury released new data showing that nearly 50 million Americans, or 1 in 7 U.S. residents, have been covered through the Affordable Care Act marketplaces since January 2014. Under the Biden-Harris Administration, which has lowered the cost of marketplace coverage by expanding the premium tax credit, the number of Americans covered through the marketplaces has significantly increased, reaching an all-time high of 20.8 million following open enrollment for 2024—18.2 million Americans have enrolled for the first time since January 2021.

“Nearly 50 million Americans have been covered through the Affordable Care Act’s health insurance marketplaces over the last decade. The marketplaces have benefitted nearly 1 in 7 Americans by expanding access to affordable coverage for Americans who could not get health insurance or had previously struggled with the cost,” said U.S. Secretary of the Treasury Janet L. Yellen. “Marketplace enrollment has surged under the Biden-Harris Administration, which has especially helped American families with their monthly bills and entrepreneurs who are looking for coverage as they start new businesses.” 

Under the American Rescue Plan and Inflation Reduction Act, health insurance through the marketplaces has been made significantly more affordable through an expansion of the premium tax credits. This expansion has reduced premiums of available plans to $10 or less per month for four in five customers in the federal marketplace, HealthCare.Gov, according to the U.S. Department of Health and Human Services.

In addition to improving affordability at all income levels, families over 400% of the federal poverty level (FPL), about $58,000 for a single person and $120,000 for a family of four for 2024 enrollment, gained access to the Affordable Care Act premium tax credit for the first time under the Biden-Harris Administration. Previously, financial assistance was only available to those with an annual income under 400% FPL. 

The number of people ever covered through the Affordable Care Act’s health insurance marketplaces substantially exceeds the number of people covered at any point in time, reflecting the Affordable Care Act’s role in providing coverage during life transitions like periods between jobs. 

The Affordable Care Act’s health insurance marketplaces have been especially critical to residents of states that have not expanded their Medicaid programs or recently expanded their Medicaid programs. On average, 20% of the population in non-expansion states have enrolled in an Affordable Care Act marketplace plan at some point in time, compared to 12% of the population in expansion states. 

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