Affordable Care Act
The Affordable Care Act, enacted in March 2010, is giving millions of middle class Americans the health care security they deserve, it is slowing the growth of health care costs and it has brought transparency and competition to the Health Insurance Marketplace.
The first enrollment period for the Affordable Care Act ended in May and saw more than 8 million Americans sign up for private insurance in the Health Insurance Marketplace. Additionally, three million young adults gained coverage on their parents plans, three million more people were enrolled in Medicaid and CHP than before the Marketplaces opened, and five million Americans are enrolled in plans that meet Affordable Care ACt standards outside the Marketplace. Yet, despite all of this progress, 5.7 million people will remain uninsured in 2016 simply because the states they live in have refused to expand Medicaid.
Affordable Care Act Higlights:
Stronger rights and protection
- 105 million Americans no longer have lifetime dollar limits on their coverage.
- More than 17.6 million children with pre-existing conditions can no longer be denied coverage.
-
Women can no longer be charged higher premiums just because they are women.
-
Workers with physically demanding jobs no longer face higher premiums because of their occupation.
Better access to care
- 54 million Americans now can receive a free preventive service, such as cancer screenings, through their private insurance plan.
- 3.1 million young adults have coverage on a parent’s plan through age 26.
- More than 50,000 Americans with pre-existing conditions have gained coverage through the new Pre-Existing Condition Insurance Plan.
More affordable coverage
- Nearly 76 million Americans are covered by insurers that are now required to spend at least 80% of premium dollars on health care.
Stronger Medicare
- 3.6 million people received a 50% discount—worth an average of $604 each—on brand name prescription drugs after hitting the Medicare donut hole in 2011.
- More than 32.5 million seniors received one or more free preventive services.
- The average person with Medicare will save about $4,200 from 2011 to 2021. Those with high prescription costs will save up to $16,000.
Additional Resources:
- 11 Important Facts about the Affordable Care Act (fact sheet, 11/14/14)
- Affordable Care Act By the Numbers (fact sheet)
- Affordable Care Act benefits by state (interactive map)
- Health Insurance Marketplace (healthcare.gov)