President Obama’s signature on the Patient Protection and Affordable Care Act.
From the White House:
Affordable Care Act at 3: Looking Forward and Expanding Access
Secretary Kathleen Sebelius
March 22, 2013
11:55 AM EDT
Three years ago, the Affordable Care Act ushered in a new day for health care.
Since then, more than 6.3 million seniors and people with disabilities with Medicare have saved more than $6.1 billion dollars on prescription drugs. Nearly 71 million Americans got expanded access to preventive service at no charge through their private insurance plans, and 47 million women now have guaranteed access to additional preventive services without cost sharing. More than 3.1 million young adults who were uninsured were able to gain coverage by being able to stay on their parents’ insurance policies until they turned 26. And parents no longer have to worry about insurers denying coverage to their children because of a pre-existing condition.
Americans are getting more value for their health care dollars due to the health care law. Affordable Care Act initiatives are promoting coordinated care; paying for quality, not quantity; and dramatically reducing fraud and waste, contributing to the slowest growth in national health spending in 50 years.
Consumers also saved $2 billion in 2012, because of programs to review premium rates and to require insurers to provide rebates if they do not spend at least 80 percent of premiums on care, rather than overhead, such as executive pay and marketing. And the law’s initiatives have extended the life of the Medicare Trust Fund by eight years….