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ObamaCare in California
President Barack Obama confirmed last week the overhaul to healthcare is already proving worthwhile as he promoted the ObamaCare plan in California.
“If you’re one of 6 million Californians or tens of millions Americans who don’t currently have health insurance, you’ll soon be able to buy quality, affordable care just like everybody else,” he said in San Jose, California.
A part of the 2010 law that requires insurers to spend 80 percent of premiums on healthcare or reimburse money to consumers has prompted insurance companies to give rebates to consumers of $45 million this year in California, he added.
“All of this is happening because of the Affordable Care Act,” Obama said.
Support for the reform in California, the nation’s most populous state, is seen as crucial to the success of Obama’s signature domestic policy when millions of uninsured Americans are able to choose health plans beginning on October 1.
At issue are prices for the new plans proposed by insurance companies and made public late last month. Supporters of “Obamacare” said the prices were lower than expected and hailed them as an early sign of success, but opponents quickly took issue and said they would make insurance more expensive than what is currently on the market.
Obama said once California and other states who agreed to participate have fully functional insurance marketplaces, this system will offer consumers a choice of healthcare plans that should drive costs down.