Digging into the 8 million ACA signups
A pamphlet for the Affordable Care Act, better known as Obamacare, sits on a table at a branch of the Metopolitan Family Health network, on October 3, 2013 in Jersey City, N.J.
Eight million Americans have signed up for insurance under the Affordable Care Act, President Barack Obama said at a White House briefing Thursday, a figure that surpassed the non-partisan Congressional Budget Office's initial projection of 7 million.
Over the past six weeks some 3.7 million people signed up for insurance, according to the White House, and 28 percent of those who got insurance via the federal exchange were in the 18-34 age range, a figure of great interest to the insurance industry. Conventional wisdom is that younger people tend to be healthier (and cheaper to insurer) than older adults. The corollary is the healthier the risk pool in 2014, the less premium prices rise in 2015.
Obama said "we have a strong, good story to tell" and then went on the offensive , adding that 5.7 million Americans have been locked out of the run on insurance through Medicaid expansion because 24 states have declined to expand their Medicaid programs.
A more complete report on enrollment numbers is expected next week. It's important to note that not all of consumers who sign up for insurance will actually purchase insurance, so it's likely the 8 million number will drop. What was interesting – and perhaps surprising – was that millions of Americans flocked to the federal and state exchanges at the 11th hour. It suggests that there is a healthy interest in having health insurance. That interest is only expected to grow.