President Joe Biden said he promised to lower costs for families and ensure that all Americans have access to quality affordable health care.
On Tuesday, the president proclaimed that he’d delivered on that promise.
A record number of people – nearly 11.5 million – signed up for insurance on HealthCare.gov, about 1.8 million more than last year, representing an 18% increase. HealthCare.gov is a result of former President Barack Obama’s Affordable Care Act, also known as “Obamacare,” effective March 2010.
With enrollment remaining open through Jan. 15, and not counting those who signed up for coverage through their state marketplaces, Biden said gains like those have helped to drive down the uninsured rate to eight percent, the lowest level in U.S. history.
“In recent days, we received further proof that our efforts are delivering record results and bringing families the peace of mind that comes with health insurance,” the president stated. “Right now, four out of five people who sign up for health insurance through the Affordable Care Act can find health care coverage for $10 a month or less. These lower rates were set to expire at the end of this year, but thanks to the Inflation Reduction Act, we were able to extend them and save millions of Americans on Obamacare an average of $800 a year.”
The Biden administration noted that on Jan. 1, Americans will see the benefits of additional cost-saving measures because of the Inflation Reduction Act.
That includes seniors realizing a month’s supply of insulin capped at $35, Medicare beneficiaries paying $0 out of pocket for recommended adult vaccines covered by their Part D plan, and prescription drug companies needing to pay Medicare a rebate if they try to raise their prices faster than inflation for drugs administered at a doctor’s office.
“We’re not finished working to make health care a right, not a privilege,” Biden declared.
The administration continues to encourage individuals to go to HealthCare.gov by Jan. 15 to take advantage of lower rates and sign up for health care for the coming year.
