President Obama: 8 Million People Have Signed Up for Private Health Coverage

Speaking from the White House Briefing Room, President Obama announced that 8 million Americans have signed up for private health coverage thanks to the Affordable Care Act.

He noted that 35 percent of those people are under 35 years old.

What's more, costs associated with expanding coverage under the Affordable Care Act are lower than expected:

And health care costs are growing at the slowest level on record. That slower growth in spending is reflected across Medicare, Medicaid, and private insurance:

Take a look at a few more important numbers, from a fact sheet released today:

• 8 million people signed up for private insurance in the Health Insurance Marketplace. For states that have Federally-Facilitated Marketplaces, 35 percent of those who signed up are under 35 years old, and 28 percent are between 18 and 34 years old, virtually the same youth percentage that signed up in Massachusetts in its first year of health reform.
• 3 million young adults gained coverage thanks to the Affordable Care Act by being able to stay on their parents' plan.
• 3 million more people were enrolled in Medicaid and CHIP as of February, compared to before the Marketplaces opened. Medicaid and CHIP enrollment continues year-round.
• 5 million people are enrolled in plans that meet ACA standards outside the Marketplace, according to a CBO estimate. When insurers set premiums for next year, they are required to look at everyone who enrolled in plans that meet ACA standards, both inside and outside the Marketplace.
• 5.7 million people will be uninsured in 2016 because 24 states have chosen not to expand Medicaid -- even though this expansion would be of no cost to states, as the President pointed out in today's briefing.

The bottom line, as the President said: "This thing is working."

You might also want to:

• Watch the President's full remarks, or read a transcript of them.
• Watch the President meet with six families benefiting from health reform.
• Check out some of our other most shareable health care content.