Affordable Care Act in a Nutshell

Affordable Care Act

The Affordable Care Act of 2010 is also known as Obamacare.  The Affordable Care Act aims at providing quality health care to all Americans at affordable prices.  The act would make it mandatory for all Americans to be covered by a health insurance policy or face additional taxes.   Many provisions of the The Affordable Care Act of March 24, 2010 have already been enacted and rest would continue to be rolled out in a phased manner. The Goals and provisions of the Affordable Care Act are summarized.

Goals of Affordable Care Act

The primary goal of the Affordable Care Act is to reduce the number of uninsured Americans. It is to be accomplished by :

  1.  By enticing employers to give coverage to their employees in order to get preferential tax treatment and also by pushing individual Americans to buy health insurance to avoid imposition of additional taxes.
  2. Providing subsidies and tax credits when Health Insurance is not provided by the employer.
  3. Expanding Medicaid by widening eligibility requirements.

Provisions of Affordable Care Act

  1. Insurers can no longer deny policy due to pre-existing illness and would need to accept anyone who is willing to purchase the plan.
  2. The policy is applicable on all plans bought after 23rd March, 2010 irrespective of the health status of the individual.
  3. Insurance companies can still deny treatment for any ailment that is specifically not covered by the plan.
  4. The act removes annual and lifetime caps on essential care health benefits.
  5. The act bans varying premium based on health conditions.
  6. Parents can enroll their children up to the age  of 26 years.
  7. Preventive care would be made available without any co-payments.
  8. Medicaid coverage to be extended to those earning up to 133% of the poverty line.

For Further Study Read the complete Affordable Care Act

Affordable Care Act and Arkansas

by Moats.
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