President Biden announces that nearly 24 million consumers have signed up for Affordable Care Act marketplace coverage, a number nearly doubling over the past 4 years.
President Biden and Vice President Harris believe health care is a right, not a privilege. Since day one of their administration, they have taken steps to ensure that every American has access to affordable, quality health care. And thanks to these efforts, The Biden-Harris Administration announces it has set another all-time record for ACA Marketplace enrollment, with nearly 24 million Americans signing up for coverage with one week to go before the enrollment period open by 2025. In total, 45 million Americans benefit from coverage through the ACA – either the Marketplace or Medicaid expansion – and more people have health insurance today than ever before in our nation’s history.
Statement by the President: “Today, we once again set a record for access to quality, affordable health care: nearly 24 million Americans signed up for coverage under the Affordable Care Act. This means that registrations have almost doubled since I took office. This is not a coincidence. When I took office, I promised the American people to lower the cost of health care and prescription drugs, make it easier to enroll in coverage, and strengthen the Affordable Care Act, Medicare, and Medicaid. I’m proud that my administration kept its promises – even if Republican lawmakers, eager to jeopardize media coverage for millions of Americans, stood in the way. I urge Congress to double down on the progress we have made and ensure Americans have access to affordable, quality health care by extending the ACA premium tax credit this year.
Today’s announcement builds on a remarkable track record of success over the past four years. More and more Americans have health insurance, with the uninsured rate at an all-time high. In fact, every year under the Biden-Harris Administration, we have set a new all-time high for ACA Marketplace enrollment.
This enrollment record is no accident and is due to this administration’s efforts to reduce health care costs and make it easier to sign up for coverage. We also made health care more affordable for Americans who purchase their health insurance on the ACA Marketplace, saving consumers on average $800 per year on their premiums. For example, this administration has made the largest investment ever in outreach and enrollment assistance, particularly in rural or underserved communities, while eliminating red tape that makes it more difficult to enroll in the cover.
But all those efforts to lower health care costs and expand coverage are now under threat. If congressional Republicans eliminate the enhanced premium tax credits that make ACA coverage more affordable, premiums will skyrocket and people will lose coverage. For many families, the results will be catastrophic:
- A single parent earning $50.00 per year could see their bonuses increase by $1,600 per year.
- A retired couple earning $85,000 per year could see their premiums increase of $18,000 per year.
- Experts believe that 3 to 5 million people would no longer be insured.
The Affordable Care Act marketplaces are only part of this administration’s commitment to health care coverage. Today, Medicaid covers approximately 80 million people. Thanks to the President’s leadership, more than 1 million Americans in four states now have Medicaid expansion coverage, bringing total ACA-related enrollment to more than 45 million. This administration also cut red tape to make it easier to apply for and renew Medicaid coverage, and set new standards to ensure people have access to the care they need when they need it.
In addition to today’s record registration numbers, we are also releasing a report And a data table pack detailing the Biden-Harris administration’s historic progress to improve the health of millions of Americans – from creating more affordable health care and prescription drugs, to combating crises in mental health, healthcare maternal, etc., and investment in public health infrastructure. Here are some highlights:
- In just its first year, President Biden’s Medicare drug price negotiation program has exceeded expectations, achieving negotiated prices that are 38 to 79 percent less than the American list prices for the ten drugs negotiated in the first cycle. These prices are 6 billion dollars per year less than what Medicare pays today and, once in effect, will put $1.5 billion dollars in the pockets of Medicare beneficiaries. Seniors on Medicare are protected by the new $2,000 cap on out-of-pocket costs, and insulin is capped at just $35 per month.
- The Administration put an end to the “family problem”, millions of family members finally eligible for affordable ACA Marketplace coverage with approximately one million people expected to either receive coverage or benefit from lower premiums.
- Lifeline 988, created under this administration, has responded to more than 11 million calls, chats and texts and facilitated access for people in distress to immediate care.
- Following the administration’s efforts to reduce overdose deaths, recent data shows a 17% reduction in overdose deaths in the 12 months ending July 2024 compared to the previous year, the largest decline in U.S. history.
- After the publication of a comprehensive strategy aimed at improving maternal health, 46 states and DC have expanded Medicaid postpartum coverage from two to twelve months for hundreds of thousands of new mothers.
- Following the launch of a comprehensive national strategy aimed at ending the HIV epidemic by the end of the decade, rates of new HIV infections are also falling.
Read the Biden-Harris administration report full report on progress in reducing health care costs and strengthening coverage for the American people.
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