The U.S. Government Accountability Office (GAO) is not ready to make any concrete assertions about whether the October 1 launch of new health insurance exchanges under Obamacare will be successful or not, but a new report shows that the agency seems cautiously optimistic.

Under the Affordable Care Act (ACA), new insurance marketplaces called "exchanges" will be one-stop shops for individuals looking to explore their coverage options. The Obama administration wants to set up these new, affordable health care markets in 34 states beginning in October.

A report released Wednesday shows that, while the Obama administration has made progress in its implementation of programs under the ACA, it still has a long way to go. This new in-depth investigation by the GAO has led many to wonder whether President Obama's health care reforms will meet their deadlines or fail to launch on time. If enrollment does not start on time, that seemingly small misstep could affect the entire implementation of reforms under the ACA.

"Much progress has been made in establishing the regulatory framework and guidance required for this undertaking, and [the administration] is currently taking steps to implement key activities of the [exchanges]," the report said. "Nevertheless, much remains to be accomplished within a relatively short period of time."

The GAO found that many states still have yet to complete tasks assigned for implementation of health care reforms. Quality, detailed troubleshooting of the computerized system that will link insurance companies, states, and the federal government has not taken place. So, although the administration has laid the framework for the successful, timely implementation of the new reforms, some of the critical small details are still in their very beginning stages.

"Whether (the administration's) contingency planning will assure the timely and smooth implementation of the exchanges by Oct. 2013 cannot yet be determined," the report concluded.

Republican leaders said the GAO report confirmed that the Obama administration has been too ambitious in its attempts to take on health care reform.

"This law isn't ready for prime time, and come October millions of Americans and small businesses are going to be the ones suffering the consequences," Sen. Orrin Hatch, R-Utah, said in a statement.