On March 14, 2024, President Joe Biden celebrated 14 years since the passing of the Affordable Care Act (ACA). He hailed ACA as “a very big deal,” giving more Americans than ever access to health insurance. Numerous elected officials also celebrated the landmark legislation’s anniversary.
ACA was passed by President Barrack Obama in March 2010. It had three primary goals: making health insurance affordable by providing subsidies to lower costs for people with incomes between 100 percent and 400 percent of the federal poverty level (FPL), expanding Medicaid to cover all people earning below 138 percent of the FPL, and promoting innovative health care delivery methods to lower costs.
Since March 2010, lawmakers have further built on ACA, expanding health care access to people with low incomes. President Biden’s own administration has acted to lower premiums and the cost of prescription drugs.
Today, ACA is an invaluable resource to millions of households. As of March 2024, more than 20 million Americans are enrolled in ACA, while 49 million seniors rely on it to pay less for prescription medication. The law further benefits more than 135 million Americans with pre-existing medical conditions.
