Barack Obama 2011-01-01 1 Statement on the Patient Protection and Affordable Care Act January 18, 2011 Today, the American people have greater health security than they did a year ago. Because of the Affordable Care Act, Americans no longer have to live in fear that insurance companies will drop or cap their coverage if they get sick or that they'll face double-digit premium increases with no accountability or recourse. Small businesses across the country can take advantage of a new health care tax credit to offer coverage to their employees, and children suffering from an illness or preexisting condition can no longer be denied coverage. Parents now can add their adult children up to age 26 to their health plans, and all Americans on new plans can access preventive care to keep them healthy with no additional out-of-pocket costs. Older Americans are seeing better benefits, lower prescription drug costs, and a stronger Medicare. And the nonpartisan Congressional Budget Office reports that improvements in health care delivery system as a result of this law will reduce Federal deficits by over a trillion dollars in the next two decades. So I'm willing and eager to work with both Democrats and Republicans to improve the Affordable Care Act, but we can't go backward. Americans deserve the freedom and security of knowing that insurance companies can't deny, cap, or drop their coverage when they need it the most, while taking meaningful steps to curb runaway health care costs.