Affordable Care Act - What You Should Know
What is the Affordable Care Act (ACT)? Affordable Care Act, also popularly known as Obamacare, is a federal health reform legislation that was signed into law by President Obama on March 23, 2010. ACA was designed to address the barriers in the American health insurance system and aimed to provide access to affordable health insurance to all Americans. ACA has been controversial from the beginning and has hit some stumbling blocks over the decade. Though ACA is a widely debated topic some people are still unclear about what it is and how it works. ACA has an effect on all our healthcare services, and thus it is important to understand the key points and the updates. How does ACA work? ACA was designed to expand coverage to all Americans, and some steps were implemented. • Healthcare costs were to be reduced by providing tax credits for households with income between 100% and 400% of the federal poverty line. • Expand Medicaid coverage to U.S. adults with income 138% below the poverty
