With millions of Americans insured through the Health Insurance Marketplaces, it's clear that Marketplace coverage is a product consumers want and need as well as an important business for insurers – with several major issuers expanding their Marketplace presence. At the U.S. Department of Health and Human Services (HHS), we are constantly monitoring the health of the Marketplace and are always looking to make improvements that benefit both consumers and issuers. Over the past several months, HHS has taken a series of actions to strengthen the Marketplace risk pool, and ensure a strong Marketplace for the long term. As part of our continued commitment to the long-term strength of the Marketplace, earlier this month, HHS made announcements regarding additional efforts to strengthen the Marketplace risk pool and new work with insurers and state Departments of Insurance to improve coverage options.
Since the ACA was enacted, the overall uninsured rate has fallen by more than 40 percent, and the uninsured rate among young adults has fallen by more than half (see Figure 1). But younger and healthier adults are still more likely than average to remain uninsured (see Figure 2). Insuring these groups lets them invest in their health, protects them against catastrophic costs from serious illness, and helps young adults continue their education. It also contributes to a more balanced Marketplace risk pool and lower costs.
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