Growing Bipartisan Support for ACA Exchanges: Key Insights from J.P. Morgan Healthcare Conference 2024
Increasing Support for ACA Exchanges
The Affordable Care Act (ACA) exchanges are gaining increased bipartisan support, as evidenced by a statement from Centene’s CEO. This sentiment was echoed at the J.P. Morgan Healthcare Conference 2024 (#JPM2024), indicating a positive trend in the recognition of these exchanges’ importance. This development is particularly noteworthy given the growing membership in the ACA exchanges, which highlights their essential role in providing accessible healthcare options to Americans.
Outpatient Strategy and Partnerships Powering Healthcare Providers
Further strengthening the healthcare sector, Hartford HealthCare has driven 54% of its total annual revenue through its successful outpatient strategy and ambulatory network. The addition of 23 new care sites in the fiscal year 2023 and plans for another 24 in the upcoming year demonstrate their commitment to this strategy. Strategic partnerships with GoHealth Urgent Care, Walgreens OnMed, and Amazon’s One Medical have brought new capabilities to the table. This outpatient strategy has significantly reduced costs for patients and ensures consistent quality care across all locations.
Similarly, Henry Ford Health has announced a partnership with Ascension Michigan, resulting in a 10.5 billion joint venture. This collaboration includes 13 acute care hospitals, over 550 care sites, and about 50,000 employees. There’s also a planned 3 billion redevelopment of its flagship campus and the surrounding neighborhood, backed by partnerships with Michigan State University and the Detroit Pistons.
Bipartisan Spending Deal and its Implications
On the legislative front, Speaker Mike Johnson’s bipartisan spending deal with Democrats, amounting to a spending limit of 1.59 trillion for fiscal 2024, has ended a stalemate. This deal, although criticized by hard-line conservatives as reckless, provides 886 billion for defense and 704 billion for nondefense discretionary funds. The hope is that this will avoid a government shutdown.
Reconsidering Copay Accumulator Limitations
In a push for more affordable healthcare, a bipartisan group of senators is urging the U.S. Department of Health and Human Services to reconsider its appeal of a federal district court decision limiting the use of copay accumulators. This limitation was put in place due to patient advocacy groups challenging the Trump administration rule. As a result, payers will only be able to use the programs for brand-name medications that have generic equivalents. This move has been applauded by Sens. Tim Kaine and Mark R. Warner, who also commended major insulin manufacturers for slashing prices effective Jan. 1, 2024.
ACA Health Insurance Marketplace Enrollment
Finally, in Illinois, Governor JB Pritzker is encouraging eligible residents to enroll in an ACA Health Insurance Marketplace plan, following an executive order signed by President Biden. The 2021 Special Enrollment Period (SEP) in Response to the COVID-19 Pandemic runs through May 15, 2021. More than 291-thousand Illinoisans enrolled in ACA Marketplace plans during the enrollment period ending last year, further bolstering the growing support for the ACA exchanges.