Roughly 1.9 million Americans canceled their Obamacare coverage in 2017. Most cited high premiums and disruptions in coverage as the reason, according to two reports from the Department of Health and Human Services.
The agency announced that 12.2 million consumers had selected an Obamacare plan or were reenrolled by the end of open enrollment on January 31, 2017. Only 10.3 million of those consumers, however, committed to the purchase by paying their premiums, leaving roughly 1.9 million Americans who essentially canceled their coverage.
“In order to get a complete picture about enrollment numbers, it is more accurate to highlight the number of people who actually paid their premiums than those who simply selected a plan,” the department said. “The data on drops in effectuated enrollment shows that, on average since 2014, more than a million enrollees per year have dropped their coverage before the end of the plan year.”
According to enrollment data, the individuals who had terminated coverage also had less financial assistance and also had higher premiums. The agency also polled consumers to find out why they stopped paying their premiums.