10 Affordable Care Facts Going Into Open Enrollment

Open enrollment kicked off this weekend with over 100,000 people enrolling in coverage on healthcare.gov, but how do things look nearly 1 year later?

Fairly well.  HHS recently posted evidence they say points to a “clear conclusion”, the Affordable Care Act is working.

Here is what they present:

  1. Insurance premiums have shed $9 Billion in excess cost that would have been passed to the consumer thanks to the Medical Loss Ratio provision of the law.
  2. 85% of consumers who signed up for insurance have received financial assistance.
  3. Nearly 70% of consumers who selected plans with tax credits paid $100 or less per month for health insurance coverage and 46% got coverage for less than $50 per month.
  4. Families received an average of $80 in rebates.
  5. 2 million people have saved more than $11.5 billion on prescription drugs since 2010.
  6. Since the passing of the law, health care spending growth has slowed to the lowest rate on record.
  7. The Medicare Trust Fund was extended by 13 years.
  8. 14% increase in the number of Medicaid and CHIP enrollments over average monthly signups.
  9. 3 million uninsured Americans are now insured.
  10. $372 million in total program savings achieved through Pioneer Accountable Care Organizations.

The long-term sustainability of the law as well as the short-term fixes that will take place in 2015 continue to be the most discussed points of the law at this point.