But as reported by the Wall Street Journal last week, corporate loophole hunters have invalidated Reid’s statement, which honestly was an overstatement even then. While Obamacare will make affordable coverage available to millions of Americans for the first time, several million others-primarily low and middle-income workers-will still be left out.

According to the Journal, regulations written by the Obama administration pertaining to employers are being interpreted by health insurance benefits consultants as applying only to small businesses that buy coverage for their employees in the state online marketplaces. Those marketplaces, also called exchanges, were created for employers with up to 100 workers and individuals who cannot get coverage through the workplace.

So the good news is that anyone buying coverage through a state exchange will have the assurance of knowing that their policies will cover essential benefits and have lower deductibles than many policies being sold today.

The bad news for millions of others, however, especially those who work in low paying jobs at places like chain restaurants, retailers and nursing homes, is that many of the consumer protections that apply to policies bought through the exchanges will not apply to them. The adequacy of their coverage will depend on how much money their employers are willing to devote to health insurance.

We’ll probably never know, but I suspect the language in the law pertaining to employer-sponsored coverage was written in a purposefully ambiguous way by lobbyists for insurance companies that have found selling inadequate coverage quite profitable. Some of the biggest insurers, including Aetna, Cigna and UnitedHealthgroup, bought companies several years ago that specialize in so-called limited-benefit plans. You can be certain they would try to protect their investments, especially considering that limited-benefit plans typically have high profit margins. That’s because the insurance companies that sell them never have to pay out much in claims.