Protect Our Care Wisconsin: ACA at 12: More Affordable Health Care

Leading up to the 12th anniversary of the Affordable Care Act (ACA), Protect Our Care is highlighting key achievements of the Act each day through March 23. The anniversary comes as enrollment hit an all-time high of 14.5 million Americans and premium costs are at a record low. President Biden and Congressional Democrats continue their work to strengthen the ACA by fighting to lower drug prices, lower premiums and expand coverage to even more families.

Protect Our Care will host events next week to celebrate the success of the law Years of attacks by Republican lawmakers. Twelve years later, the ACA is here to stay and stronger than ever.

Day 2: The ACA reduced the cost of quality healthcare

Twelve years ago, the Affordable Care Act (ACA) became law and provided millions of Americans with affordable health insurance. Thanks to the AK, 14.5 million Americans have signed up for a Marketplace plan for their health insurance in 2021, and millions more can buy prescription drugs at a lower cost. The American Rescue Plan (ARP) builds on the ACA’s strong foundation by reducing premiums for middle- and working-class families by an average of $2,400 per year.

After years of Republican efforts to repeal and sabotage the law, President Biden and congressional Democrats have made historic investments to secure the future of American healthcare. Because of her vision and determination, in 2022, 5.8 million Americans were newly covered by an ACA plan and an additional 83 million Americans received coverage through Medicaid or CHIP. Americans can sleep better at night now, knowing the ACA will stay here and President Biden is working hard to cut healthcare costs across the board.

A closer look at how the Affordable Care Act is cutting healthcare costs across the country:

More than 30 million Americans have affordable health insurance. Because of the ACA, more than 30 million Americans have health insurance through Marketplace, Medicaid, or CHIP.

More than 14.5 million people have coverage that they can afford through the individual market. 2021, 14.5 million Individuals who have registered for health insurance through the ACA Marketplace. This is the highest number of Americans to have ever signed up for a Special Registration Period (SEP), and it’s thanks to President Bidens American rescue plan. Premium savings under the American Rescue Plan benefit all Americans, with families now saving on average $2,400 a year on their health insurance premiums.

Americans are saving more than ever on health premiums. Most people insured through the marketplace are eligible for tax credits to pay their premiums, and the ARP has only doubled those savings for millions of Americans. More than 3.6 million Americans who were previously uninsured have been able to access a plan for less than $10 in 2021 and almost more than 1.7 million were eligible zero dollars Benchmark Marketplace Coverage. The American Rescue Plan builds on the ACA by ensuring that all enrollers never overpay 8.5 percent their household income for a premium.

Make insurance more affordable for all Americans. The American Rescue Plan Temporarily Expanded Eligibility for Bonus Tax Credits Above 400 Percent of the Federal Poverty Line – rough $54,000 for a single person or $111,000 for a family of four. Previously, families earning just over 400 percent of the federal poverty line spent on average 15 percent their health insurance income.

Abolition of bonuses for low-wage workers. The American rescue plan Bonuses eliminated for Americans earning up to 150 percent of the federal poverty line (about $20,000 for a single person and $41,000 for a family of four) who buy their coverage in the marketplace; and for those on unemployment insurance due to the pandemic obtain.

Improved access to care and financial security. Between 2010 and 2018, the proportion of non-aged adults having trouble paying a medical bill decreased 17 percentthe proportion not filling out a prescription fell 27 percent, the proportion skipping a test or treatment fell 24 percent, and the proportion not seeing a doctor when they needed care fell 19 percent.

Classification of prescription drug coverage as essential. Thanks to the Court of Auditors, insurers are required to cover so-called “essential healthcare services”, and that includes prescription drugs. This required all health plans to cover at least one drug in each category and class of approved drugs.

More than 60 million gained access to birth control at no additional cost. The Court of Auditors guarantees the coverage of private health insurance companies 18 methods of contraception and make them available 60 million Patients without participation. More than 99 percent of sexually active women have used birth control at some point in their lives, and about 60 percent of women of childbearing age are currently using at least one method of contraception. In addition to improving access to this important treatment, this ACA provision has saved money for women and their families: women saved $1.4 billion alone on the birth control pill in 2013.

Patients have access to cheaper medicines. The ACAs Biologics Price Competition and Innovation Act paved the way for the Food and Drug Administration (FDA) to approve biosimilars, cheaper alternatives to expensive biologics. This provision is expected to save $54 billion between 2017 and 2026.

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