Affordable Care Act

The Affordable Care Act (ACA), also known as Obamacare, is a comprehensive health care reform law enacted in March 2010. The law was the most significant regulatory overhaul of the U.S. healthcare system since the passage of Medicare and Medicaid in 1965.

Pronunciation

Affordable Care Act: /əˈfɔːrdəbəl kɛər ækt/

Etymology

The term "Affordable Care Act" is derived from the full title of the law, "The Patient Protection and Affordable Care Act", often shortened to "ACA". The colloquial term "Obamacare" was initially used by opponents of the law, but has since been adopted by supporters as well.

Key Provisions

The ACA includes a number of provisions designed to increase the quality and affordability of health insurance, lower the uninsured rate by expanding public and private insurance coverage, and reduce the costs of healthcare for individuals and the government. These include:

Individual mandate: Requires most Americans to have health insurance or pay a penalty.
Health insurance marketplace: Creates state-based health insurance exchanges where individuals and small businesses can purchase health insurance.
Medicaid expansion: Expands Medicaid eligibility to cover more low-income individuals and families.
Pre-existing condition: Prohibits health insurers from denying coverage or charging higher premiums to individuals with pre-existing conditions.
Essential health benefits: Requires health insurance plans to cover certain essential health benefits, such as preventive care and mental health services.

Related Terms

External links

Medical encyclopedia article on Affordable Care Act
Wikipedia's article - Affordable Care Act

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Affordable Care Act