(Bloomberg) To hear the White House tell it, 11.4 million Americans can't be wrong.
President Barack Obama trumpeted the success of his signature health care law on Tuesday, releasing a video on Facebook that boasted that 11.4 million people have signed up or re-enrolled for coverage under the Affordable Care Act in 2015. Sunday marked the latest deadline for Americans to sign up in an open enrollment period for coverage under the ACA.
"The Affordable Care Act, aka Obamacare, is working. It's working better than we anticipated, certainly working a lot better than many of the critics talked about early on," Obama said in the video, shot in the Oval Office with Health and Human Services Secretary Sylvia Burwell.
While the number of people signed up for health care under the Affordable Care Act has given the White House reason to celebrate, the administration has reason to worry about whether the news will remain positive for the ACA. With the April 15 tax deadline approaching, an estimated 6 million Americans are expected to to face a penalty for not enrolling in a health care plan. While the 2014 penalty starts at $95, it will rise in 2015 to $325.
Even more troubling for the health care law, the Supreme Court will soon begin hearing arguments in the King v. Burwell case, which will decide the ultimate fate of the program's federal subsidies. If the court rules the subsidies unconstitutional, millions of Americans will lose their insurance and costs are expected to skyrocket.
Register or login for access to this item and much more
All Employee Benefit Adviser content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access