Over 11 Million Signed Up for Obamacare

According to a report from Bloomberg, over 11.4 million people had either renewed or signed up for Obamacare coverage for the second year of its implementation, making the administration’s goal of reaching at least 9.1 million people paying for coverage for health insurance coverage from the marketplaces. The registration, which ended February 15 except for some states, has been slightly marred with website glitches and long wait times, yet the administration has been generally happy with the numbers, saying that the Affordable Care Act is working “a little better than we anticipated”.

Some people, however, opted not to shop in the health insurance marketplace since they thought they couldn’t afford it, yet Obamacare works the opposite: the government will pay part of their health insurance if a person is earning between 100 and 400 percent of the poverty level, which varies based on a person’s family size. In fact, the Department of Health and Human Services has found that 87 percent of those who bought healthcare from the marketplace got financial help and paid only an average of $82 a month.

While everyone is required to have a health insurance plan under Obamacare or pay a fine, people can still qualify for an exemption. The most common exemption is for financial hardship, which they could apply for on their tax returns.

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