The Affordable Care Act (ACA) is one of the major pieces of legislation to affect the U.S. health care system. It was signed into law on March 23, 2010, by President Barack Obama. The main goals of ACA are to provide affordable health insurance to all Americans, to add more benefits and protections, and to reduce health care costs.
ACA: Affordable Health Insurance for All Americans
There were about 37 million American citizens without insurance before Affordable Care Act (ACA); often because it was too expensive for individuals to purchase. ACA provides an opportunity for uninsured Americans to get the health insurance; either through dramatically extended Medicaid or through subsidized health insurance exchanges. Both qualified individuals and small businesses will be able to purchase health insurances on exchanges.
Why is it needed? Government assistance subsidies and individual mandate penalty.
Medicaid expansion and its implementation for different states.
Health insurance marketplace: eligibility, functions, five plan levels of coverage, available marketplace subsidies (premium tax credit & cost-sharing reductions), exchange models, and enrollment periods.
Affordable Care Act: More Benefits and Protections
Affordable Care Act (ACA) substantially extended health care insurance benefits and protections. Some of them, like the elimination of pre-existing conditions, capping out-of-pocket costs, and the elimination of annual and lifetime limits, will have an impact on most Americans.
The detailed list of changes and additions to health care benefits and protections.
Reducing Health Care Costs
Medical costs are exploding, and the attempts to bend the health care cost curve through Affordable Care Act (ACA) has a long way to go. Most of the proposals relate to a movement away from the current fee-for-service system by connecting doctors’ payments to value, factoring cost-effectiveness in the treatment plans and setting better quality metrics.
US Government Sources
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