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:
- 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.
- 85% of consumers who signed up for insurance have received financial assistance.
- 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.
- Families received an average of $80 in rebates.
- 2 million people have saved more than $11.5 billion on prescription drugs since 2010.
- Since the passing of the law, health care spending growth has slowed to the lowest rate on record.
- The Medicare Trust Fund was extended by 13 years.
- 14% increase in the number of Medicaid and CHIP enrollments over average monthly signups.
- 3 million uninsured Americans are now insured.
- $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.