The head of HealthSherpa, a web broker and insurance enrollment services company, says sales of individual major medical policies for 2019 look great to him.
George Kalogeropoulos, HealthSherpa’s chief executive officer, says in a recent commentary that good rates and strong consumer demand helped the company generate strong gains in Affordable Care Act public exchange plan enrollment activity for the first week of the open enrollment period for 2019 coverage.
“More than 75% of HealthSherpa enrollees have a monthly premium, after subsidy, of less than $75,” Kalogeropoulos says.
HealthSherpa helps other brokers with public exchange plan enrollment, as well as selling exchange plans directly, and about 28,000 brokers are using the company with help with ACA exchange plan enrollment this year.
(Related: HealthCare.gov Gets Off to a Slow Start)
The 2019 open enrollment period started Nov. 1 in most of the country and is set to run until Dec. 15 in most of the country.
HealthSherpa — which is formally known as Geozoning Inc. — says its first-week enrollment volume increased to 32,889, up 23% from the total for the comparable period a year earlier.
The company accounted for about 8.8% as many plan selections as the federal government’s HealthCare.gov ACA exchange enrollment and account
HealthSherpa averaged about 1.4 people per application, compared with about 2.0 people per application at HealthCare.gov.
The median list price of the coverage sold has decreased 6%, to about $888 per month.
For applicants who qualify for the ACA premium tax credit subsidy, the average “net premium” — or full premium minus the subsidy amount — has fallen 35%, to about $47 per month.
What HealthCare.gov Is Seeing
HealthCare.gov enrollment activity was lower in the second week of the 2019 open enrollment period than it was in the second week of the 2018 open enrollment period, but the second week looked a lot better than the first week.
In the first, short week, the average daily number of applicants selecting plans through HealthCare.gov was down 18%, and the total number of people on track to get covered was down 21%.
In the second week, the number of applicants selecting plans fell 8.2%, year-over-year, to 876,788.