Obama Care, also known as the Affordable HealthCare Act is a US healthcare reform law. It improves and expands people’s access to medical care and it helps reduce spending through the regulations and taxes. It is an idea born from decades of research and ideas from not only both political parties, but also the health industry itself. It is modeled after Governor Mitt Romney who implemented a similar reform law in Massachusetts.
It focuses on assuring more Americans have access to affordable health care insurance. It improves the quality of health care and health insurance and regulates the health insurance industry. It also reduces the amount of health care spending in the United States. There are hundreds of provisions that address the different aspects of “the healthcare crisis” in the US.
ObamaCare is the unofficial name for the law called The Patient Protection and Affordable Care Act that went into effect in March 2010. It offers Americans a variety of new benefits, protections, and rights regarding their healthcare.
It is responsible for setting up a Health Insurance MarketPlace (Healthcare.gov) where federally regulated and subsidized health insurance can be purchased by American citizens. ObamaCare expands Medicaid to all adults in many states and improves Medicare for seniors and people with long term disabilities. It also expands employer coverage for millions of employees.
Most people are required to have coverage beginning in 2014 in order to be qualified for an exemption fee. Other taxes and tax breaks may be applied or available. If you want to lower the cost of your private health insurance, visit HealthCare.Gov. You may also qualify for Medicaid. If you don’t obtain and maintain your medical coverage each year, you could wind up owing the Shared Responsibility Fee.