A new report, Affordable Care Act Update: Implementing Medicare Costs Savings, released today by the Center for Medicare and Medicaid Services (CMS), confirms that the Affordable Care Act is on track to save money and strengthen the Medicare program, all while protecting seniors guaranteed benefits. And the savings and improvements start right away. According to the new report, provisions for which implementation has already advanced—along with the Administration’s ongoing efforts—will save nearly $8 billion within the next two years. Over time, the savings only increase – in the next 10 years, the new law will save $575 billion.

Reducing health care costs and maximizing savings is an important part of the Affordable Care Act.  In 2009, the U.S. spent more than 16% of its Gross Domestic Product (GDP) on health care and, without reform, the nation’s health care spending would have reached unsustainable levels. The new law will help reform this broken system, save money for Medicare and give seniors higher quality care. As the report notes, the new law will implements a number of provisions that will save money and improve care like programs to help reduce avoidable hospital readmissions and fight hospital acquired conditions.

For more information, read the full CMS report or visit see the timeline on HealthCare.gov to learn more about what’s changing and when under the Affordable Care Act.

Stephanie Cutter is Assistant to the President for Special Projects

This morning the President discussed the great honor he felt to be speaking at the national convention of Disabled American Veterans in Atlanta, Georgia -- one of the great organizations carrying on the values of America's proud military.  The occasion was all the more meaningful because yet another momentous turning point in that history is upon us:

Today, your legacy of service is carried on by a new generation of Americans.  Some stepped forward in a time of peace, not foreseeing years of combat.  Others stepped forward in this time of war, knowing they could be sent into harm’s way.  For the past nine years, in Afghanistan and Iraq, they have borne the burdens of war.  They, and their families, have faced the greatest test in the history of our all-volunteer force, serving tour after tour, year after year.  Through their extraordinary service, they have written their own chapter in the American story.  And by any measure, they have earned their place among the greatest of generations. 

Now, one of those chapters is nearing an end.  As a candidate for President, I pledged to bring the war in Iraq to a responsible end.  (Applause.)  Shortly after taking office, I announced our new strategy for Iraq and for a transition to full Iraqi responsibility.  And I made it clear that by August 31st, 2010, America’s combat mission in Iraq would end.  (Applause.)  And that is exactly what we are doing -- as promised and on schedule.  (Applause.)

Already, we have closed or turned over to Iraq hundreds of bases.  We’re moving out millions of pieces of equipment in one of the largest logistics operations that we’ve seen in decades.  By the end of this month, we’ll have brought more than 90,000 of our troops home from Iraq since I took office -- more than 90,000 have come home.  (Applause.) 

The White House has released a fact sheet detailing just how extensive this drawdown has been, and what it will mean for our broader security.  It brings toward a close a war that was at the center of passionate debate in America for much of the last decade, including the last election.  But as the President pointed out, support for our troops was -- and will continue to be -- a great unifying force:

No matter who you are, the Affordable Care Act will help make your health care better. The reforms in the law will help bring costs down and will improve the quality of care for all Americans.

But we know that women in particular suffered under the old health care system and will especially benefit from the important changes in the new law.  This was confirmed last week, with the release of a new report from the Commonwealth Fund highlighting how important the new law is for women across the country.  The report notes:

Up to 15 million women who now are uninsured could gain subsidized coverage under the law. In addition, 14.5 million insured women will benefit from provisions that improve coverage or reduce premiums. Women who have coverage through the individual insurance market and are charged higher premiums than men, who have been unable to secure cover-age for the cost of pregnancy, or who have a preexisting health condition excluded from their benefits will ultimately find themselves on a level playing field with men, enjoying a full range of comprehensive benefits.

This morning the President speaks at the national convention of Disabled American Veterans in Atlanta, Georgia.  As the end of combat operations in Iraq draws near, it is a time to salute those who have sacrificed their lives, and to honor those who have come back – both through words and through a renewed commitment to ensure they are given all the benefits they are due.  

Vice President Biden and Dr. Jill Biden welcome home the 2nd Brigade Combat Team, 10th Mountain Division, from Iraq at Fort Drum in New York July 28, 2010. (Official White House Photo by David Lienemann)

Vice President Biden was joined by Dr. Jill Biden last week at a Welcome Home Ceremony for the 2nd Brigade Combat Team from Iraq at Fort Drum in New York.  One of the most deployed brigades in the U.S. Army, the 2nd Brigade Combat Team has participated in three deployments to Afghanistan and four deployments to Iraq.  He placed today’s veterans squarely in the proud tradition of America’s military, saying “today’s warriors are worthy successors to that proud legacy. Our conflicts in Iraq and Afghanistan—and the demands we have placed on our soldiers and their families—are unlike any that came before.”  He also reminded us that there are others who should be honored as well: