Open enrollment to purchase insurance through the federal marketplace has begun [Video]

The start of November means more than the holiday season is upon us. It also marks the beginning of open enrollment for health insurance through the federal marketplace.

Open enrollment insurance plans are commonly known as Obamacare. This is different than insurance through work or Medicare.

This year, enrollment in the Affordable Care Act Marketplace hit a record high. According to the KFF, it reached over 21 million people who enrolled. The KFF said there’s a reason for that growth.

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The American Rescue Plan Act of 2021 expanded who is eligible for subsidies from the government to help pay insurance premiums. The Inflation Reduction Act of 2022 keeps those expanded eligibility criteria in place through 2025.

“For some people, they can sign up for coverage at no cost because of the subsidies and the cost-sharing help that’s available on the marketplace,” said Christopher Garmon, University of Missouri-Kansas …