Why Dismantling Obamacare Would Be More Challenging Now

Record interest in Obamacare coverage

More people are insured through the Affordable Care Act exchanges than ever before. In February 2023, there were 15.7 million enrollees in Obamacare plans, a 13% increase from the previous year. Between March and September 2023, an additional 1.5 million people signed up, compared to the same period in 2022. The popularity of Obamacare continues to grow, with over 15.3 million people signing up for coverage during the current open enrollment period. This represents a 33% increase from the previous year.

The availability of hefty federal premium subsidies has spurred much of this interest. The subsidies enable 4 out of 5 people to find a plan for less than $10 a month. As of February 2023, 91% of enrollees were receiving subsidies, compared to only 10.3 million people enrolled in Affordable Care Act plans in 2017.

Additionally, there are now more choices for insurers and policies. In 2024, there are 210 health insurance issuers participating on the federal exchange, compared to 167 in 2017. The average enrollee now has nearly seven issuers to choose from, whereas in 2017, they had only three.

More states implement Medicaid expansion

Medicaid expansion, a provision of Obamacare, has been adopted by 40 states, nine more than in 2017. In these states, Medicaid coverage has been extended to more low-income adults. Several states, including Maine, Idaho, Nebraska, Utah, Missouri, Oklahoma, South Dakota, Virginia, and North Carolina, have expanded Medicaid through ballot initiatives or bipartisan efforts.

Nationwide, nearly 18.8 million newly eligible Americans are enrolled in Medicaid as of September 2022, compared to 12.2 million in 2017.

Higher favorability ratings

The Affordable Care Act has seen a significant increase in favorability ratings. In May 2023, nearly 60% of adults had a favorable view of the law, close to the highest share since its passage in 2010. This is a stark contrast to December 2016, when only 43% had a favorable opinion of Obamacare.

Interestingly, the law’s future is more important to Democratic voters than Republican voters. According to a poll, 70% of Democratic voters consider it a “very important” issue, while only 32% of Republican voters feel the same way. This marks a shift, as Obamacare was previously a key health care issue for GOP voters.

Supreme Court leaves law intact

Despite attempts to dismantle Obamacare through the court system, the Supreme Court dismissed a lawsuit in 2021. The lawsuit argued that the individual mandate, which was rendered unconstitutional when Congress reduced the penalty for not having coverage to $0, invalidated the entire law. However, the court ruled that the challengers did not have the legal right to bring the case. This was the third time the law survived a challenge.

Read More of this Story at www.cnn.com – 2024-01-08 00:02:00

Read More US Economic News