ObamaCare (also known as the Patient Protection and Affordable Care Act) is a health care reform law signed in 2010 by President Barack Obama.
ObamaCare was enacted with the focus of increasing the quality and affordability of health insurance, lowering the uninsured rate by expanding public and private insurance coverage, and reducing the costs of healthcare for individuals and families. It introduced a number of mechanisms including mandates, subsides, and insurance exchanges which was meant to increase coverage and affordability.
The law also requires insurance companies to cover all applicants within new minimum standards and offer the same rates regardless of pre-existing conditions or sex. Additional reforms aimed to reduce costs and improve healthcare outcomes by shifting the system towards quality over quantity through increased competition, regulation, and incentives to streamline the deliver of healthcare.
Approximately 20 million Americans had gained health insurance coverage under the Care act and the percentage of uninsured Americans dropped from 18% in 2013 to 13.4% in 2014.
ObamaCare was enacted with the focus of increasing the quality and affordability of health insurance, lowering the uninsured rate by expanding public and private insurance coverage, and reducing the costs of healthcare for individuals and families. It introduced a number of mechanisms including mandates, subsides, and insurance exchanges which was meant to increase coverage and affordability.
The law also requires insurance companies to cover all applicants within new minimum standards and offer the same rates regardless of pre-existing conditions or sex. Additional reforms aimed to reduce costs and improve healthcare outcomes by shifting the system towards quality over quantity through increased competition, regulation, and incentives to streamline the deliver of healthcare.
Approximately 20 million Americans had gained health insurance coverage under the Care act and the percentage of uninsured Americans dropped from 18% in 2013 to 13.4% in 2014.
ObamaCare's health care reform does a number of important things including offering Americans a number of new benefits, rights, and protections in regards to their healthcare and setting up a Health Insurance Market where Americans can purchase federally regulated and subsidized health insurance during open enrollment. The law also expands Medicaid, improves Medicare, requires you to have coverage in 2014 and beyond, and contains some new taxes and tax breaks among other things.
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ENROLLMENT Form
Important dates
- November 15, 2015 - Annual Enrollment period for ObamaCare begins
- January 31, 2016 - Last day of annual enrollment period for ObamaCare
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