By the Numbers: The Affordable Care Act
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PrintNovember 17, 2014
Starting this past weekend, Americans began signing up for affordable health insurance plans for 2015 through the federal Health Insurance Marketplace. Americans are already experiencing the benefits of the Affordable Care Act, such as the elimination of lifetime limits on coverage, protections for those with pre-existing conditions, and measures that ban discrimination against women. But here’s a look at a few more reasons why uninsured or underinsured Americans should explore HealthCare.gov before 2015’s final open enrollment deadline on February 15:
$1 Trillion – The Affordable Care Act is projected to deliver $1 trillion dollars in tax credits and other assistance to help individuals obtain affordable, quality coverage over the next ten years. [Committee on Ways & Means, 11/12/14]
$12 Billion – Over 8 million seniors and Americans with disabilities have received $12 billion in Medicare prescription drug savings. [Committee on Ways & Means, 11/12/14]
$9 Billion – American consumers have saved $9 billion since 2011 because insurance companies are now required to spend at least 80% of every premium dollar they receive on quality health care rather than profits or overhead. [Department of Health & Human Services, 10/7/14]
10.3 Million – Since the start of the 2014 open enrollment, 10.3 million uninsured adults have obtained health care coverage. [Department of Health & Human Services, 10/7/14]
6 Million – Approximately 6 million young adults have been able to stay insured through their parent’s health plan until age 26. [Committee on Ways & Means, 11/12/14]
80 Percent – For the 2014 plan year, over 80 percent of Americans with coverage through the federal Marketplace received tax credits to reduce their premiums. [Committee on Ways & Means, 11/12/14]
26 Percent – In one year, the number of uninsured adults has been reduced by 26 percent. [Committee on Ways & Means, 11/12/14]
25 Percent – In 2015, there will be a 25% increase in the total number of insurers selling health insurance plans in the Marketplace. [Committee on Ways & Means, 11/12/14]
To learn more about coverage and eligibility for tax credits to make coverage more affordable, visit HealthCare.gov. Americans without access to the internet or who prefer not to enroll online can get information and sign up through the Call Center at 1-800-318-2596 (TTY 1-855-889-4325). After identifying the best option, those seeking coverage have until February 15, 2015, to enroll. However, they must sign up by December 15 in order for coverage to begin on January 1, 2015.
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