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The Affordable Care Act, also commonly referred to as “Obamacare,” is healthcare reform legislation that was signed into law by President Barak Obama in 2010. The law has many provisions that have been and continue to roll out in phases, some of which will not go into effect until 2022. With the passing of Obamacare.
Obamacare –
also known as the Affordable Care Act (ACA) or officially as the Patient Protection and Affordable Care Act – is a federal statute signed into law on March 23, 2010, by President Barack Obama.
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The law was created to improve access to affordable, quality health insurance for all Americans. It dramatically changed the U.S. individual health insurance market by implementing provisions designed to make individual plans more affordable and while improving the quality of coverage.
The ACA’s major provisions began taking effect in 2014, although some had taken effect as early as 2010. By 2016, the Affordable Care Act had lowered the percentage of uninsured Americans from 16% to 8.9%.
The Affordable Care Act (ACA or “Obamacare”) was signed into law by President Barack Obama in 2010. A major overhaul of the U.S. health-care system, Obamacare aims to reduce the amount of uncompensated care the average U.S. family pays for by requiring everyone to have health insurance or pay a tax penalty. Recently, Obamacare has seen some changes from our new president.
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Open Enrollment for 2020 is over, but you may still be able to enroll in a Marketplace health insurance plan for 2020 if you qualify for a Special Enrollment Period.
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