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Analysts said the rate drop could be pegged largely to the implementation of Obama's health reform law, as well as the improving economy

The figure marks the first time in decades the uninsured rate has dropped below 10%

Martha's Vineyard, Massachusetts CNN  — 

The rate of Americans without health insurance dropped steeply over the last year to 9.2%, the Obama administration reported on Wednesday, a sharp decline likely to reinforce White House claims the Affordable Care Act is working as planned.

The figure marks the first time in decades the uninsured rate has dropped below 10%, a symbolic milestone for access to health coverage.

The report from the Centers for Disease Control and Prevention indicated the number of Americans without health insurance declined by 7 million people since this time last year. Twenty-nine million Americans are still without health coverage.

The figures reflect a trend since the Affordable Care Act, also known as Obamacare, went into effect. Since 2013, the number of uninsured Americans has declined by 15.8 million, according to the government figures.