1、Healthcare PracticeThe individual health insurance market in 2023This represents an outsize year for insurer and enrollment growth.More than 3.6 million new consumers entering the market are choosing among an average of 88 plans.by Edith Chan,Brandon Flowers,Himani Kohli,and Isaac SwaimanApril 20232

2、The individual health insurance market in 2023The year 2023 marks the tenth year of operation for the US health insurance exchanges since they launched as part of the Affordable Care Act in 2014.The individual market has remained fluid during this time,with insurer participation,pricing,and plans ch

3、anging from year to year.Consumer participation increased 25 percent to approximately 16 million from 2020 to 2022,1 coincident with extended enrollment periods2 and enhanced subsidies implemented under the American Rescue Plan Act of 20213 and extended through 2025 by the Inflation Reduction Act of

4、 2022.4 We have collected and analyzed data from every health insurance exchange in the country across the 33 marketplaces on the federal platform and the 18 state-based marketplaces at the county level(see sidebar,“Methodology”).This document includes several insights into the individual market for

5、 2023 that are relevant to stakeholders,including insurers,providers,private equity firms,policy analysts,and consumers:1 McKinsey Enrollment Projection tool,with estimates based on 2021 insurer-reported financials,2022 open-enrollment-period results,and 2022 Unified Rate Review Template data.2“CMS

6、extends open enrollment period and launches initiatives to expand health coverage access nationwide,”Centers for Medicare&Medicaid Services(CMS),US Department of Health and Human Services(HHS),September 17,2021.3“H.R.1319:American Rescue Plan Act of 2021,”117th Congress,March 11,2021.4“H.R.5376:Infl