Dive Brief:
- More than 1 million people are enrolled in CO-OP health insurance plans as of March 25th, the National Alliance of State Health CO-OPs has announced.
- The group notes that this number reflects the gains from the most recent ACA enrollment period, but that it remains fluid due to continued off-marketplace and special enrollments.
- Following the 2014 ACA enrollment period, CO-OPs had just over 400,000 members, NASHCO reported.
Dive Insight:
Perhaps more newsworthy than the enrollment numbers is the impact CO-OPs are having on the marketplaces in their states. According to NASHCO, "For the second year in a row, average premium rates in states with CO-OPs are lower than those without CO-OPs."
According to the group, a 2015 analysis of the second-lowest priced silver plans in major cities in each state showed that average premium rates in CO-OP states have dropped 1.9% since 2014, while rates in non-CO-OP states increased by 1.5%. The analysis also indicated that the average difference in monthly premiums between CO-OP and non-CO-OP states had increased to 12%.
"These numbers are further evidence that CO-OPs are making a real impact on the health insurance marketplaces in their states—an impact that goes well beyond enrollment numbers," said Dr. Martin Hickey, chair of NASHCO's Board, in a prepared statement. "Indeed, health insurance CO-OPs are driving innovation, competition and affordability across the country."