9,539 newly enrolled Rhode Islanders are among the state marketplace’s record high enrollment
PROVIDENCE – HealthSource RI (HSRI) concluded its annual Open Enrollment period January 31, with its highest ever OE total of 34,456. Of those, 9,539 Rhode Island residents are newly enrolled in the affordable qualified health plans available through the state marketplace. An additional 24,917 individuals, or 76% of last year’s customers, renewed their coverage during the same period, which started November 1.
The new benchmark for Rhode Island comes on the heels of national news of climbing federal and state-based marketplace enrollments, which hit 20 million in mid-January, celebrated by the Centers for Medicare and Medicaid Services, only to surpass the 21 million mark by the conclusion of Open Enrollment, according to a CMS news release. In keeping with this trend, HealthSource RI continues to see growth in the intervening weeks, with 39,273 paid enrollments as of April 1.
In the course of Medicaid renewals, which resumed in April 2023 after suspension due to the COVID-19 public health emergency, HealthSource RI has successfully transitioned more than 14,000 former Medicaid customers to qualified health plans on the marketplace, often at little to no initial cost due to federal financial assistance and state support programs put in place to ease the transition.
“HealthSource RI is a vital resource for the people of Rhode Island, offering an accessible, affordable way to stay connected to quality coverage through a variety of life changes,” said Governor Dan McKee. “We as a state are proud of our position as a leader in health coverage, and with the collaboration between HSRI and our RI Medicaid program, we are making that direct connection for so many.”
“HealthSource RI is here to help Rhode Islanders get and stay connected with quality, affordable health coverage,” said HSRI Director Lindsay Lang. “Along with our colleagues across the country celebrating 21 million covered under the Affordable Care Act, HSRI is thrilled that we’ve surpassed our previous years’ enrollments and are still growing, welcoming these 9,539 new customers and more. Whatever the reason, when Rhode Islanders need health coverage, we hope that they continue to think of HealthSource RI as their first, best option to take advantage of all the options and supports we can offer.”
Since 2013, HSRI has decreased the uninsured rate by more than two thirds. As of 2022, 97 percent of Rhode Islanders had health coverage, among the highest insured rates in the country. For detailed information from both HSRI’s 2024 Open Enrollment Report and the 2022 Health Information Survey, visit HealthSourceRI.com/Surveys-and-Reports. HSRI is the only place Rhode Islanders can receive Advance Premium Tax Credits to help pay for their health coverage, with customers qualifying for nearly $11.7 million in Advance Premium Tax Credits in January 2024. Currently, 6 out of 7 HSRI customers receive financial assistance, and tax credits continue to protect consumers from rising costs. While the average premium before tax credits of all currently active plans is $549, that average drops to $106 per month after applying tax credits, about $4 less than last year despite a more than $25 increase in the plan price. In fact, 32% of HSRI customers currently pay less than $10 a month to stay covered.
Now that HSRI’s annual Open Enrollment is complete, individuals and families who have experienced certain life events may be eligible to shop for a new plan during a Special Enrollment Period (SEP), which is a 60-day window to enroll starting before or after that event. Qualifying SEP events include a loss of other medical coverage including Medicaid, moving into Rhode Island, getting married or divorced, or having or adopting a child. Individuals can visit HealthSourceRI.com/SEP to learn more about these qualifying events, register for an online info session, get live expert support through chat in English or Spanish, book an appointment, or enroll online. Enrollment support is also available by calling 1-855-840-HSRI (4774).
The mission of HealthSource RI, the state’s health insurance marketplace, is to help Rhode Islanders reach near-universal health insurance by increasing access to high quality, affordable coverage. We do that by helping Rhode Islanders access federal affordability assistance and a pick a plan that best suits their needs.HSRI’s Plan Comparison and Savings Tool lets families estimate their monthly premium and out-of-pocket costs, identify financial help and find in-network doctors. Through the HealthSource RI for Employers program, HSRI also services over 1,100 small employers in Rhode Island and nearly 8,000 employees and dependents.
