By CAP Action War Room

It’s that time of the year again! Open enrollment starts tomorrow and consumers can once again shop for health care coverage through the Health Insurance Marketplace. Using the call center, in-person assistance, or the improved HealthCare.gov site, consumers are also able to renew or make changes to existing plans. As open enrollment begins, here are a few key facts on how the Affordable Care Act is doing:

• 7.1 million people enrolled in the marketplace: During open enrollment last year, more than 7 million people purchased insurance through the exchange.
• The number of uninsured Americans fell by 25 percent this year: An estimated 10.3 million fewer people are uninsured this year, reducing the amount of Americans without health coverage by 25 percent.
• On average, tax credits reduced the cost of premiums by 76 percent: Last year, the average person who received financial assistance for coverage paid a monthly premium of $82, which is 76 percent less than the average price before credits.
• More insurers are offering plans for 2015: 25 percent more health insurers are expected to offer plans this year, creating competition that drives down prices for consumers.

With an increasing amount of data to prove the Affordable Care Act is working, a few million more people are expected to enroll in the exchange this year. Here are a few important things to know going into open enrollment:

• Open enrollment dates: Open enrollment starts on November 15th and lasts until February 15th. For coverage that starts January 1st, the deadline to enroll is December 15th.
• People with existing plans should shop around: People who already have insurance will need to renew their plans during open enrollment by December 15. But with the addition of more insurers in the marketplace, those with current plans should shop around on HealthCare.gov to make sure their current plan is still the best fit for them. Customers who don’t renew their coverage will likely be automatically enrolled again, but they could miss out on savings.
• Financial assistance is available: An estimated 8.7 million people could qualify for tax credits to help pay for their insurance. Last year, 85 percent of people who enrolled in insurance on the marketplace qualified for federal subsidies.

BOTTOM LINE: The Affordable Care Act is working — it has largely succeeded in bringing affordable, quality healthcare to millions while significantly shrinking the number of uninsured Americans. During open enrollment, consumers can shop for a health coverage plan that works for them, and financial assistance is available. The millions more expected to enroll this year, as well as the millions who have already taken advantage of the law, stand to benefit greatly from this open enrollment period. But it only lasts for three months, and if you want coverage that starts January 1, the deadline is December 15th. So get shopping!

Defend Military Families Against Predatory Loans

One in ten troops take out high-interest loans in order to make ends meet. As an Army veteran and former congressman, I know how important it is to protect servicemembers against predatory lending practices.

That was the idea behind the Military Lending Act of 2007, which, among other important things, set a 36 percent limit on interest and fees for consumer loans to military personnel and their dependents.

But the task of translating that law into practical do’s and don’ts fell to the Defense Department, which settled on a body of rules that left plenty of room for evasion. The result? Abusive lenders went right on targeting military families with loans at 300 percent interest and up.

Stop swindling our soldiers! No more triple-digit interest loans to servicemembers and their families!

Now the DOD is moving to update its rules in order to truly carry out the law’s mandate. This time, its proposals are strong enough to make the 36 percent rate cap stick. But the rulemakers — and the military and consumer advocates who led the fight for this crackdown — are bracing for another campaign of intense resistance by a politically as well as economically powerful industry.

Join us in urging the Defense Department to stand by its proposed rules and stop high-cost lenders from preying on the military.

Our men and women in uniform have plenty on their minds. In service to their country, they willingly go on long deployments, leaving friends and family behind. Lenders should not be allowed to take advantage; loans with triple-digit interest rates and onerous repayment terms shouldn’t hang over their heads.

Thank you for your support.

Sincerely,

Patrick Murphy