How Obamacare Fared in Its First Day

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Oct. 1 (Bloomberg) -- Bloomerg's Elizabeth Krutoholow discusses Affordable Care Act registrations with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

People seeking information?

The reports came out suggesting 2.8 million americans logged on to get information today.

It bodes pretty well given that 7 million americans are expected to enroll.

The idea is that the white house is hoping that in the first year, the crucial element for them is that we need young people.

The affordable care act opens health care to everyone.

People with pre-existing conditions will now be treated.

Those people are more expensive to treat, so to take on the cost of treating those people, it would not necessarily use this much coverage.

The obama administration said they need 40% of new enrollees to be younger patients.

That will be a pretty difficult target to meet.

Today was the first day that people can start signing up for the exchanges.

What does it mean for january 1 going forward?

Open enrollment will be six months.

Most people are expected to get on the system in december 1. those people are used to an annual enrollment.

What about penalties associated with not enrolling?

It would come out of your taxes.

You wouldn't necessarily be fined, but you would be deducted from your tax return.

The penalty is not too steep, $95 or one percent of the income.

It will go up to 325. we will sue the level start to get a little steeper.

Lebron's plan would cover 60% of the health care costs but you would be paying a lower premium to get into that system.

You would be expected to pay a higher deductible.

If you look to the highest level , you will pay a higher premium to get in.

The government is also trying to encourage people with subsidies to get them on board.

It would go towards the actual premium to get into the system.

And then if you make less than 250% of the federal poverty level, you can get additional cost-sharing subsidies that can go towards co-pay and adaptable.

It will be based on the average of the silver plan.

14 states are running their own exchanges.

Does this have any impact on consumers and what their choices might be?

Maybe 95% of people live with premiums less than projected.

We are hoping there will be more competition as most people have 53 plans to choose from.

It will be a lot to look at.

There will be a lot to learn in the next few months.

Speaking of a lot to learn, what about folks going out and helping to explain what the law is?

They have been running into opposition from some governors that will not certify them to go and give people this information.

A lot of people are still being trained.

Several states did not want to promote that the exchanges would open.

This is the first big change to the u.s. health care system in decades.

The rollout of whether you were for or against, it almost reminded me of when facebook had their ipo and you thought things were going to go well and things started to go a little bit haywire.

Is this to be expected on the first day of the rollout?

The obama administration really covered their bases.

They said there is clearly interest and people want to take advantage of it.

Somebody watching this from the very beginning, how did it look to you?

So far, it looks ok.

It could've gone better, but i think they were expected and we really won't know until we see how many people are enrolled by

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