My fellow Americans, I am here today to talk to you about the Affordable Care Act. You know it as Obamacare. I want to tell you why, even with the healthcare.gov problems and the challenges ahead, I am proud of Obamacare.
Because of Obamacare, over 6 million young adults have health insurance they wouldn’t have had before. Because of Obamacare, parents of these six million young adults can rest easy, knowing that their children have the health insurance they need.
Because of Obamacare, no child can be denied health insurance, for any reason at all. Because of Obamacare, children with diabetes, children with cancer, children with epilepsy – their parents don’t have to worry that they won’t be able to get health care for their children. Because of Obamacare, their children can get the health insurance they need.
Because of Obamacare, health insurance companies are now required by law to spend at least eight out of every ten dollars they collect in premiums on medical care. Because of Obamacare, if they don’t follow this law, they have to give the money back to you. Because of Obamacare, over a billion dollars in premium refunds went out to Americans last year.
Because of Obamacare, millions more low-income Americans now have the option to get free health insurance, with the expansion of Medicaid. Because of Obamacare, for the first time, if you can’t get health insurance from your job or your spouse’s job, you can go to a fair Marketplace where you can shop for health insurance, knowing that you’re buying good coverage for your family. Because of Obamacare, health insurance has to cover the benefits you really need, and health insurance companies can no longer take your premiums but give very little coverage in return.
My fellow Americans, we’re building a new system here, and it’s going to take some time. We’re connecting government agencies and private health insurance companies and uninsured Americans in ways that have never been done before, and yes, there have been some bumps in the road.
But the road is worth traveling.
We must continue on. We must not let the health system break down. We must not go back to the days when the rules were unfair, when premiums kept rising unchecked, when millions of Americans had no options at all. We have already traveled too far.
And we will get there – to a health system that keeps us healthy through free preventive care, and covers every American for what they need when they’re sick. To a health system that cares for our children, and for our mothers. To a health system that coordinates our care, delivers the highest quality, and contains costs, because we need all three to get the health system we deserve.
God bless our efforts to build our greater good, and God bless America.