The Affordable Care Act turns 5 years old

Happy-5th-Birthday

By Black Enterprise

Five years ago today, the Affordable Care Act, sometimes referred to as “Obamacare,” was signed into law by President Obama. In reflecting on the legislation, ACA opponents cite issues including higher premiums and cancelled policies, while the Obama administration and proponents see the efforts as having filled a much vital need: ensuring millions of Americans who previously had few options get affordable care for themselves and their families.

“The Affordable Care Act has been the subject of more scrutiny, more rumor, more attempts to dismantle and undermine it than just about any law in recent history,” Obama said in a statement. “But five years later, it is succeeding— in fact, it’s working better than even many of its supporters expected.”

The Depat. Of Health and Human Services reports that since the law was enacted, the U.S. has seen the greatest change in the numbers of the uninsured in 40 years. “Since the passage of the Affordable Care Act almost five years ago, about 16.4 million uninsured people have gained health coverage – the largest reduction in the uninsured in four decades,” said HHS Secretary Sylvia M. Burwell. “Because of the Affordable Care Act young adults are able to stay on their parents’ plans until age 26, states can expand their Medicaid programs, and tax credits are available to millions of Americans in all 50 states, making health care coverage more affordable and accessible. When it comes to the key metrics of affordability, access, and quality, the evidence shows that the Affordable Care Act is working, and families, businesses and taxpayers are better off as a result.”

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