Affordable Care Act has been a major success in Washington
Health care reform may have been a major success in Washington, according to the state’s Insurance Commissioner, Mike Kreidler. This week, Keridler spoke to a Congressional subcommittee, highlighting the benefits that the Affordable Care Act has brought to his state. Most notable among these benefits is the impact that the law has had on the uninsured population. According to Kreidler, Washington now has the lowest rate of uninsured people it has seen since 1987.
State’s uninsured population drops to 8.5% due to the Affordable Care Act
Before the Affordable Care Act took effect, 14% of Washington’s population lacked health insurance coverage. Now, however, this has dropped to 8.5%. Many people have managed to coverage through the state’s health insurance exchange, which offers a variety of policies, many of which are quite affordable. Through this exchange, consumers also have access to subsidies from the federal government, which can make coverage even more inexpensive.
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Expanded Medicaid program helps stabilize the insurance market
Through the Affordable Care Act, the state also decided to expand its Medicaid program. With expanded eligibility, as well as the availability of the exchange, more than 500,000 people were able to acquire the insurance coverage that they needed. Kreidler notes that the expansion of the Medicaid program has helped establish a stable insurance market, which has assisted in keeping health insurance premiums from seeing significant increases over the past few years.
Many more people may find insurance coverage through state’s exchange in the coming months
The Affordable Care Act remains a somewhat controversial subject in many parts of the United States, as many lawmakers are not comfortable with the provisions of the federal law. In Washington, however, the law has had a significant, and noticeably beneficial impact on the state’s insurance sector. Washington officials expect many more people to sign up for health insurance coverage through the state’s exchange when the next open enrollment period begins later this year. Washington is one of the few states that manages its own health insurance exchange.