What is the Affordable Care Act?

The Affordable Care Act (ACA), also known as Obamacare, is a healthcare reform law in the United States that was enacted in March 2010. The law aims to make healthcare more affordable and accessible to all Americans, particularly those who are uninsured or underinsured. It was signed into law by President Barack Obama and represents the most significant overhaul of the U.S. healthcare system since the passage of Medicare and Medicaid in 1965.

The ACA has several provisions that help individuals and small businesses obtain health insurance. It established healthcare marketplaces, or exchanges, where people can shop for health insurance plans and compare prices. It also expanded Medicaid, the government insurance program for low-income individuals and families, to cover more people.

One of the key features of the ACA is the individual mandate, which requires most Americans to have health insurance or pay a penalty. This was intended to increase the number of healthy individuals in the insurance pool and reduce the cost of insurance premiums. The ACA also requires insurance companies to cover essential health benefits, such as preventive care, mental health services, and prescription drugs.

The ACA has been the subject of much debate and controversy since its passage. Supporters argue that it has helped millions of Americans gain access to healthcare and has improved the quality of care. Critics argue that it is too expensive and has led to higher insurance premiums and fewer insurance options in some areas.