Obamacare Sign-Ups Hit 8 Million In Remarkable Turnaround
Posted: 04/17/2014 3:54 pm EDT Updated: 04/17/2014 4:00 pm EDT
In a remarkable rebound from the botched rollout of Obamacare, 8 million people signed up for private health insurance via the exchanges created by the Affordable Care Act since October, President Barack Obama announced during a press briefing at the White House Thursday.
March and April saw an uptick in the share of young people signing up for private plans using the exchanges. These people, who are presumably healthier, are needed to balance out the medical costs of older, sicker consumers. About 35 percent of people who signed up throughout the open enrollment period were under 35 years old, including children, Obama said. Twenty-eight percent were between the ages of 18 and 34, according to a White House fact sheet.
The official six-month enrollment period ended March 31, but the federal government and most states accommodated people trying to complete applications in April amid a last-minute surge for subsidized private coverage or Medicaid benefits.
"This law is working," Obama said. "This law won't solve all the problems in our health care system. We know we've got more work to do, but we now know for a fact that repealing the Affordable Care Act would increase the deficit, raise premiums for millions of Americans, and take insurance away from millions more."