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ObamaCare Works for 2.5M
The landmark U.S. healthcare reforms spearheaded by President Obama have enabled 2.5 million young adults to join or remain in their parents’ health insurance plans during one of this tough economic time per the U.S. government. This is up from 1 million reported earlier this year.
Federal officials fully credited the gains to the Affordable Care Act, legislation championed by President Barack Obama that took effect last year and is deemed the biggest overhaul of the U.S. healthcare system in nearly 50 years. Dating back to the Lyndon B. Johnson, the Obama administration succeeded where others failed alleviating financial worry for millions.
The law aims broadly to eventually provide medical insurance to more than 30 million uninsured Americans, and in September last year allowed young adults to stay on their parents’ private insurance plans through age 26. The provision is perhaps the single most popular element of the law.
That age group previously recorded the highest uninsured rate but the new report showed they no longer do. Now 26- to 35-year-olds have that dubious distinction by a narrow margin, according to a survey conducted by the Centers for Disease Control and Prevention.
Since the policy helping young adults took effect in September 2010, the percentage of adults ages 19 to 25 covered by a private health insurance plan has increased to 73 percent in June from 64 percent, the Department of Health and Human Services said.