The president once again touted the benefits that this historic legislation will bring to the ordinary people starting this year, including providing tax credits to help small businesses get and keep coverage for their employees; prohibiting insurers from denying coverage to children because of pre-existing medical conditions; barring insurance companies from dropping coverage when people get sick or putting lifetime limits on coverage.

U.S. President Barack Obama gestures during a ceremony to sign the healthcare reform bill at the White House in Washington D.C., capital of the United States, March 23, 2010. [Zhang Jun/Xinhua]

"The bill I'm signing will set in motion reforms that generations of Americans have fought for and marched for and hungered to see," he said.

Later in the day, Obama will head to the Interior Department for an even larger celebration, in which he will address to an audience of approximately 600 people comprising members of Congress, government officials, doctors, nurses, as well as Americans with healthcare challenges.

The president's signature also set the stage for the Senate debate of a separate compromise package of changes to the Senate bill. Only when the Senate bill was signed into law can the fixes bill, formally known as reconciliation bill, be debated on the Senate floor, according to officials.

The reconciliation bill is not allowed to be filibustered, and that is why Democrats resorted to this legislative maneuver after they no longer have the filibuster-proof 60 votes in the Senate.

Signing the bill does not mark an end to Obama's healthcare overhaul efforts, as he still needs to convince the still- skeptical public that the measure will do them more good than bad.

Obama is expected to give a speech on Thursday in Iowa City, Iowa, where he launched his grassroots drive for healthcare reform in May 2007.