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Sunday, April 6, 2014

White House Reaches Goal of 7 Million People Signing Up for Obamacare -- Is It Time to Celebrate?

The original goal set by the White House for number of Americans signing up for Obamacare was 7 million, and by Tuesday, April 1, the goal was reached. More than 7 million Americans signed up for health care insurance before the deadline at midnight. But the time for celebrating may have to wait until it is known how many of those Americans end up paying for their new insurance.

Questions remain

The total number of Americans who signed up for health insurance is 7,041,000. But there are many questions that remain unanswered as yet that will determine whether or not the health care program has been successful. For example, signing up for insurance and paying for insurance are two different steps, and no figures have been released yet by the White House as to how many people have paid.

Another important number is how many of the 7 million sign ups included Americans whose health care insurance policies were cancelled previously and who then needed to enroll in Obamacare.

Another very important question will play a key role in how successful the entire health care reform will be. This question focuses on how many healthy, young people signed up for health insurance. The success of Obamacare clearly hinges on having enough healthy enrollees to offset health care costs incurred by older Americans and those with ongoing health issues.

Until all these questions are answered, the time for celebrating will have to wait.
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