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Saturday, April 19, 2014

"This Thing is Working" Says President Obama About the Affordable Care Act

It's been more than two weeks since the deadline passed for Americans to sign up for health insurance under the Affordable Care Act. The numbers are now in, and President Obama couldn't be more pleased with the results. Eight million people signed up, exceeding expectations by the White House by more than a million.

More good news

In addition, more young Americans ended up signing up for health insurance at the last minute. This was a critical step in the Affordable Care Act. There needs to be enough young and healthy people in the program to offset health care costs incurred by older Americans with more health issues. It was enough, according to the White House. The most recent count showed that 28 percent of people between the ages of 18 and 34 signed up, an increase from the 25 percent reported in the early months of sign up.

Even more good news (?)

The other concern was how many people paid for their premiums. If they don't pay, they are not insured and this affects the whole health care program. Industry experts and insurance companies reported back in February that about 20 percent of those who signed up did not pay and therefore did not receive insurance coverage. The White House will release this updated information as soon as they have it, but they remain optimistic that overall the program is working.

White House defines just how ACA is working

According to the White House, they know the Affordable Care Act is working because of the results they now see within other statistics.

  • 105 million Americans no longer need to worry about a lifetime cap on insurance benefits
  • 8 million older Americans have saved $10 billion on lower prescription drug costs because of ACA
  • 129 million Americans with pre-existing health conditions no longer have to worry about losing their insurance
For millions of Americans, these are definitely benefits that are working very well for them.
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