Sunday, March 24, 2013

Affordable Care Act: How Is It Doing So Far?

Good summary in today's New York Times of the accomplishments to date of the Affordable Care Act. Even though the complete law doesn't go into effect until January 1, 2014, many elements have already taken effect.

What has ACA (aka Obamacare) accomplished to date:

1.  Nearly 7 million children have stayed on their parents' insurance, more than 3 million previously uninsured;
2.  71 million Americans already received free preventive care (no co-pay or deductibles);
3.  34 million additional Americans on Medicare received free preventive care;
4.  17 million children with pre-existing conditions now insured;
5.  107,000 adults with pre-existing conditions now in federal plan;
6.  Community health centers serving 3 million additional Americans;
7.  19 million Americans with reduced premiums or cost sharing;
8.  In 2012 insurers paid $ 1.1 billion in rebates because they didn't spend enough revenue on claims or quality improvements;
9.  Lower rate increases by insurers;
10. $ 6.1 billion saved on prescription drugs;
11. Sharp declines in annual growth in health care spending;
12. Medicare Advantage premiums down 10% and enrollment up by 28%.

That's just the beginning. Readmissions are down and followup care improved. More improvements are in the offing.


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