Obama administration says 16.4M have gained health insurance as a result of health law

Markets Associated Press

Health and Human Services Secretary Sylvia Burwell says 16.4 million people have gained insurance coverage as a result of President Barack Obama's health care law.

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Burwell announced the latest estimates Monday as the administration prepares to commemorate the fifth anniversary of the law's signing on March 23.

Most of those gaining coverage — 14.1 million people — got their insurance after the law's big expansion began at the end of 2013. The program offers subsidized private coverage for people who don't have health insurance on the job, along with an expanded Medicaid program that many states have accepted.

Another 2.3 million people previously gained coverage. Those were young adults allowed to remain on a parent's plan until age 26 under one of the law's most popular provisions.