The “Affordable Care Act” (ACA) is the name of the comprehensive statute reforming health care and its revisions. The bill concerns health insurance coverage, the expense of health care, and preventative treatment. The legislation was passed in two parts: The Patient Protection and Affordable Care Act was updated by the Health Care and Education Reconciliation Act on March 30, 2010.
What does ACA refer to in terms of insurance?
Comprehensive health care reform legislation signed into law in March 2010 (sometimes known as ACA, PPACA, or “Obamacare”). The legislation has three basic purposes: Expand access to affordable health insurance for more individuals. The law offers subsidies (“premium tax credits”) that reduce expenditures for households with incomes between 100 and 400 percent of the federal poverty level (FPL).
If your income exceeds 400% FPL in 2022, you may still be eligible for the premium tax credit. If your income is at or below 150 percent of the federal poverty level, you may be eligible to enroll in or adjust your coverage via a Special Enrollment Period. Expand Medicaid to cover all people with incomes below 13.8 percent of the federal poverty level.
(Not every state has extended its Medicaid program.) Promote medical care delivery innovations intended to reduce overall health care expenditures.
Despite its great results, the ACA has been very contentious. Conservatives opposed the tax increases and premium increases necessary to fund Obamacare. Some individuals in the healthcare business criticize the increased workload and expenses imposed on medical practitioners.
The Affordable Care Act (ACA), formally known as the Patient Protection and Affordable Care Act, and colloquially known as Obamacare, is a landmark U.S. federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010.
How much did the Affordable Care Act cost?
Average Market Premiums by Metal Type in 2021
| State | Average Lowest Cost Bronze Plan | Average Benchmark Plan |
|---|---|---|
| Alaska | $435 | $675 |
| Arizona | $342 | $436 |
| Arkansas | $322 | $394 |
| California | $323 | $426 |