NJDOBI Announces Record Enrollment to Date for 2025 Health Insurance Through Get Covered New Jersey
Residents Must Enroll by Dec. 31 for Coverage Starting Jan. 1; Open Enrollment Ends Jan. 31
TRENTON — Nearly 450,000 New Jersey residents have signed up for a 2025 health insurance plan through Get Covered New Jersey, the state’s Official Health Insurance Marketplace, in the first five weeks of the state’s Open Enrollment Period – a dramatic increase from 330,901 who had selected plans by this time last year, New Jersey Department of Banking and Insurance (DOBI) Commissioner Justin Zimmerman announced today.
Nine in 10 people Who Enroll Will Qualify for Savings; Many Will Pay $10 Per Month or Less; Visit GetCovered.NJ.gov to Compare Available Plans, Review Financial Help Eligibility
TRENTON — Open enrollment for Get Covered New Jersey, the state’s Official Health Insurance Marketplace, kicks off on Friday, November 1, Governor Phil Murphy and New Jersey Department of Banking and Insurance Commissioner Justin Zimmerman announced today. New Jersey residents and families will continue to benefit from historic levels of financial help to purchase health insurance and lower the cost of monthly premiums.
Findings show that while New Jersey benefits from high-quality care, health care costs have risen rapidly over nearly a decade
TRENTON – The Murphy Administration today released a trio of reports assessing the quality and affordability of health care in New Jersey. These reports serve as a critical first step to understanding and addressing the health care affordability challenge impacting individuals and families both in the state and across the nation. Together, the reports show that a lack of affordable health care continues to burden New Jerseyans, and they will be instrumental in supporting the development of innovative and collaborative approaches to address high costs.
New Jersey individual & small group market carriers are asking for unweighted average rate increases of 7.3% and 4.5% respectively for 2025. However, the unweighted averages don't tell the whole story--the carriers are asking for rate hikes ranging from as low as 3.8% to as high as 16.2% on the individual market, and from as low as an 18.8% reduction to a 12.3% increase for small group plans.
As is the case with far too many states these days, most of the rate filing memorandums are heavily redacted in New Jersey, making it nearly impossible to get ahold of the actual enrollment numbers, which means I have no way of running a weighted average on either market.
I should note that the 433,000 estimate for New Jersey's total individual market is based on the assumption that 90% of it is via the ACA exchange, with only 10% being enrolled off-exchange.
TRENTON — New Jersey Department of Banking and Insurance Acting Commissioner Justin Zimmerman today announced the department will continue and extend a previously announced Special Enrollment Period (SEP) to make it easier for qualified individuals who are no longer eligible for NJ FamilyCare coverage to enroll with Get Covered New Jersey.
As required by federal law, the Department of Human Services restarted eligibility reviews for NJ FamilyCare on April 1, 2023. Those who no longer qualify for NJ FamilyCare because their income is too high may be eligible to obtain health coverage through Get Covered New Jersey and may be able to get help paying for premiums.
The end date of this SEP will be extended from July 31, 2024, to November 30, 2024, which will help more individuals leaving NJ FamilyCare to find quality, affordable health insurance through the start of the next Open Enrollment Period. Any eligible consumer who attests to losing NJ FamilyCare (Medicaid/CHIP) coverage between that same time period will be eligible for the SEP.
New Jersey Department of Banking and Insurance Acting Commissioner Justin Zimmerman today announced an expanded Special Enrollment Period for individuals who are no longer eligible for NJ FamilyCare and qualify for health insurance through Get Covered New Jersey, the state’s Official Health Insurance Marketplace. The expanded Special Enrollment Period will be available to anyone who lost NJ FamilyCare coverage due to resumption of eligibility reviews regardless of the date they lost coverage. Previously, individuals had 120 days to enroll after their NJ FamilyCare coverage ended.
As required by federal law, the Department of Human Services restarted eligibility reviews for NJ FamilyCare on April 1, 2023. Those who no longer qualify for NJ FamilyCare because their income is too high may be eligible to obtain health coverage through Get Covered New Jersey and may be able to get help paying for premiums.
Governor Murphy and Acting Commissioner Zimmerman Announce Record-Breaking 397K People Signed Up for Health Insurance Through Get Covered New Jersey During Open Enrollment
Enrollment Up 61% Since the Murphy Administration Assumed Operation of the Health Insurance Exchange
Residents with a Qualifying Life Event or Who Meet Certain Income Levels Still Have Options to Get Covered
TRENTON —Governor Phil Murphy and Department of Banking and Insurance Acting Commissioner Justin Zimmerman today announced that more than 397,000 New Jerseyans signed up for health coverage through Get Covered New Jersey during the Affordable Care Act Open Enrollment Period, marking another year of historic enrollment in New Jersey.
The headline says 397K but it's actually just shy of 398K.
via the NJ Dept. of Banking & Insurance (via email; no link yet):
Health Insurance Sign-Ups Reach Record High at Get Covered New Jersey as Open Enrollment Deadline Nears
Residents Urged to Sign up for Health Coverage; Pop-up Events Provide Additional Enrollment Assistance In Advance of January 31st Deadline
TRENTON – New Jersey Department of Banking and Insurance Acting Commissioner Justin Zimmerman today announced that more than 366,000 New Jersey residents, a record high for New Jersey, signed up for a 2024 health insurance plan through the state’s Official Health Insurance Marketplace, Get Covered New Jersey, in the first nine weeks of the Open Enrollment Period that started on November 1, 2023. The Acting Commissioner also announced that the department is continuing to hold pop-up enrollment and assistance events at several New Jersey shopping malls for two weeks in January to provide resources and encourage residents to enroll in 2024 health coverage before the end of Open Enrollment on January 31st.
NJ residents must enroll by Dec. 31 for coverage starting Jan. 1
9 in 10 People Who Enroll Qualify for Savings; Many Pay $10 a Month or Less for Health Coverage
TRENTON — New Jersey Department of Banking and Insurance Acting Commissioner Justin Zimmerman today announced that more than 330,000 New Jersey residents signed up for a 2024 health insurance plan through the state’s Official Health Insurance Marketplace, Get Covered New Jersey, in the first five weeks of the Open Enrollment Period that started on November 1, 2023. Total signups have increased compared to the same timeframe last year, as residents continue to take advantage of record levels of financial help available from the State of New Jersey and the federal government and more plan options to choose from.
Open Enrollment for 2024 health insurance ends January 31st, but residents must enroll in a plan by December 31, 2023 for coverage to take effect on January 1, 2024.
In August I posted the average rate changes being requested for 2024 by New Jersey insurance carriers on the individual & small group markets; it came in at ~6.6% for the indy market and 12.2% for the small group market...but those was unweighted by carrier market share.
Yesterday, with the launch of the 2024 Open Enrollment Period, the New Jersey Insurance Dept. has posted the final/approved rate filings...and while they don't appear to have made any changes to the preliminary requested rate changes, they do include the overall weighted rate increases (unfortunately I still don't know how many enrollees each carrier has).
The weighted rate hikes are just 4.4% on the individual market and 7.3% for small group plans. It's also worth noting that UnitedHealthcare is newly joining the NJ individual market:
