Editor's note: We're live blogging from the Supreme Court today as the nation waits to see how the justices will rule on the health care law. You can follow along below as CNN Supreme Court Producer Bill Mears and Senior Legal Analyst Jeffrey Toobin get the latest details live from the court as well as analysis when the opinion is delivered. Watch live coverage and analysis on CNN TV, CNN’s mobile apps and http://cnn.com/live.

[Updated at 12:23 p.m. ET] President Obama touted the benefits of the law he championed as he reacted to the Supreme Court's ruling.

"By this August, nearly 13 million of you will receive a rebate from your insurance company because it spent too much on things like administration and CEO bonuses and not enough on your healthcare,” Obama said.

Other benefits include lower drug costs for seniors as well as denying insurers the option to deny coverage because of pre-existing conditions. It also provides free preventative care in certain cases and issues credits to those who can’t afford their health insurance premiums.

Each state will decide its “own menu of options” and they're welcome to come up with ways to cover more people and improve costs, Obama said.

The president said he respects concerns about the bill and he understands that people are worried that it was politically driven, but he said it should be clear by now he didn’t push for the act because it was “good politics."

“I did it because I believed it was good for the American people,” he said.

[twitter https://twitter.com/BarackObama/status/218378521335181312%5D

[Updated at 12:16 p.m. ET] President Barack Obama on Thursday called the Supreme Court's decision upholding his signature health care law "a victory for people all over this country whose lives will be more secure because of this law."

"They’ve reaffirmed a fundamental principle, that here in America, the wealthiest nation on Earth, no illness or accident should lead to any family’s financial ruin,” Obama said.

Happening now: The President is speaking on today's #SCOTUS ruling on #Obamacare. Don't miss it. wh.gov/live

—
The Democrats (@TheDemocrats) June 28, 2012

Opinion: Health care victory, but still a long way to go

[Updated at 12:12 p.m. ET]  Rep. Michelle Bachmann, R-Minnesota, responded to the ruling by saying, "This is a turning point in American history.  We will never be the same again with this denial of liberty interests. But also it is a black cloud pragmatically speaking on economic recovery.  There will be no hope of economic recovery between now and the election. We have exhausted now our legal solutions to be able to rid the nation of Obamacare. Now, we have to look for a political solution."

[Updated at 11:57 a.m. ET] GOP presumptive presidential nominee Mitt Romney is speaking now regarding health care.

“I will act to repeal Obamacare” if elected president, GOP presidential hopeful Mitt Romney said. “Obamacare was bad law yesterday. It’s bad law today.”

He wet on to cite the economic impact of the healthcare law. It raises taxes and cuts Medicare by hundreds of millions of dollars, while adding trillions to the national debt. It “pushes those obligations onto coming generations.”

Romney said that in light of the Supreme Court decision, Americans must decide if they want more government and more deficits and if they want to lose their preferred insurance or if they want to “return to a time when the American people will have their own choice in healthcare.”

“This is a time of choice for the American people. Our mission is clear: If we want to get rid of Obamacare, we have to replace President Obama,” he said.

[Updated at 11:55 a.m. ET] Vicki Kennedy, the wife of late Sen. Edward Kennedy released the following statement regarding the health care ruling.

"I applaud the decision by the United States Supreme Court this morning, upholding the constitutionality of the Affordable Care Act. We still have much work to do to implement the law, and I hope we can all come together now to complete that
work. The stakes are too high for us to do otherwise.

As my late husband Senator Edward Kennedy said: 'What we face is above all a moral issue; that at stake are not just the details of policy, but fundamental principles of social justice and the character of our country.'"

[Updated at 11:49 a.m. ET] The U.S. Conference of Catholic Bishops said it is for comprehensive healthcare reform, especially for the poor, but it opposes the Supreme Court decision for three reasons.

"First, ACA allows use of federal funds to pay for elective abortions and for plans that cover such abortions, contradicting longstanding federal policy. The risk we identified in this area has already materialized, particularly in the initial approval by the Department of Health and Human Services (HHS) of “high risk” insurance pools that would have covered abortion.

Second, the Act fails to include necessary language to provide essential conscience protection, both within and beyond the abortion context. We have provided extensive analyses of ACA’s defects with respect to both abortion and conscience. The lack of statutory conscience protections applicable to ACA’s new mandates has been illustrated in dramatic fashion by HHS’s “preventive services” mandate, which forces religious and other employers to cover sterilization and contraception, including abortifacient drugs.

Third, ACA fails to treat immigrant workers and their families fairly. ACA leaves them worse off by not allowing them to purchase health coverage in the new exchanges created under the law, even if they use their own money. This undermines the Act’s stated goal of promoting access to basic life-affirming health care for everyone, especially for those most in need."

[Updated at 11:37 a.m. ET]  Lots of reaction from the political world on this decision, which was seen as an issue that could sway the upcoming election.

But just as much as this is a political issue, the real impact is on everyday Americans.

Here's a look at how some of those people reacted to the decision.

FULL POST