Many Americans doubted whether the Affordable Care Act passed by Congress — also known as Obamacare — would be able to offer low prices on health insurance for consumers.

Now the numbers are coming in, and it appears that for many Americans the health-insurance plans bought under the new government program are fairly affordable. Almost seven out of 10 people who bought plans through federally run marketplaces and who receive tax credits are paying monthly premiums of less than $100, the U.S. Department of Health and Human Services said on Wednesday.

Since October 1, 2013, over eight million Americans have selected a private health insurance plan through the the Health Insurance Marketplace where consumers can purchase health insurance plans in a competitive market.

69 percent of individuals selecting plans with tax credits have premiums of $100 or less after tax credits—nearly half (46 percent) have premiums of $50 or less after tax credits.

(READ the story from CBS News)

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