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After that year, Covered California has gradually reduced expenses to save their funds. In 2015, it proposed a budget of $332.9 million, leaving $194 million in reserve funding. [25] The actual budget adopted was approximately $335 million. In 2016, the proposed budget was $308 million, which was $28 million less than the year before. [26]
It would have created a voluntary and public long-term care insurance option for employees. [27] [28] In October 2011 the administration announced it was unworkable and would be dropped. [29] The CLASS Act was repealed January 1, 2013. [30] The launch for both the state and federal exchanges was troubled due to management and technical failings.
U.S. health insurance coverage by source in 2016. CBO estimated ACA/Obamacare was responsible for 23 million persons covered via exchanges and Medicaid expansion. [5] This chart illustrates several aspects of the Affordable Care Act, including number of persons covered, cost before and after subsidies, and public opinion.
The model for Obamacare was the health care reform package that went into effect in Massachusetts in 2006. The initial proposal was made by then-Governor Mitt Romney, a Republican who now serves ...
It hit a high of 41% in 2012 and today is at 28%, the lowest since the early 2000s, the years before Obamacare drastically reformed the insurance industry and required insurers to cover ...
Gallup estimated in July 2014 that the uninsured rate for adults (persons 18 years of age and over) was 13.4% as of Q2 2014, down from 18.0% in Q3 2013 when the health insurance exchanges created under the Patient Protection and Affordable Care Act (PPACA or "Obamacare") first opened. The uninsured rate fell across nearly all demographic groups.
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Obamacare maintained the concept of health insurance exchanges as a key component of health care. President Obama stated that it should be "a market where Americans can one-stop shop for a health care plan, compare benefits and prices, and choose the plan that's best for them, in the same way that Members of Congress and their families can.