The Patient Protection and Affordable Care Act is still not fabulously popular, but according to a new Gallup poll, its standing among the American public has significantly improved in the past year.

The survey, conducted during the first week of July, found 47 percent of Americans support the health law, the highest level of approval since 2012. Opposition to President Obama's signature health policy now stands at 48 percent, the first time in nearly three years that it has dipped below 50 percent.

While Gallup notes that PPACA has never enjoyed high levels of support, its image appears to be recovering after taking a serious hit during the first months of its rollout. Marred by technical glitches and news that companies were dropping insurance coverage for millions in response to the law's minimum coverage requirements, the law became a lightning rod for public displeasure with the health system.