Achieved landmark overhaul putting U.S. on path to universal coverage now that Supreme Court has upheld the law's mandate for almost everyone to obtain insurance. Under the law, insurers will be banned from denying coverage to people with pre-existing illness, tax credits for middle-income people will subsidize premiums, people without work-based insurance will have access to new markets and small business gets help for offering insurance. Millions of low-income uninsured are to be reached through expansion of Medicaid with hefty subsidies to states, but Supreme Court limited federal power to penalize states that want to opt out of the expansion. Law's biggest changes start in 2014. "Nobody is going to go broke just because they get sick. And Americans will no longer be denied or dropped by their insurance companies just when they need care the most. That's what change is."
Health care law improves Medicare benefits, adding better coverage for seniors with high prescription costs as well as removing co-pays for a set of preventive benefits. It also cuts Medicare payments to hospitals and other providers by more than $700 billion over a decade. Those cuts are being used to provide health insurance to more working-age Americans, and the government also counts them as extending the life of the Medicare trust fund. Any future deficit-reduction deal, though, is likely to increase costs for middle-class and upper-income Medicare recipients, and Obama has indicated a willingness to consider increasing the eligibility from 65 to 67.
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