A growing individual marketplace

Over the past five years, there has been an increase in more carriers that have entered or re-entered the individual marketplace. With updates in legislation and increased enrollment, retirees now have more choice than ever in selecting a carrier in the marketplace. From 2018 to 2023, the percentage of counties with three or more carriers increased from 18% to 66%.

Sources: Kaiser Family Foundation, 2018; Vericred, 2023

Enrollment is at an all-time high (16.3 million signups for 2023), a 13% increase (1.9 million members) over 2022.

Further, the nationwide national weighted average rate increase in 2023 compared to 2022 was ~4%.

Source: ACASignups.net, Benchmark premium (second lowest cost silver plan), years 2022 to 2023

Take a closer look at Medicare and Pre-Medicare footprint by region. Click on the image to enlarge; click on the < > arrows to scroll through the different regional maps.