What is ObamaCare?
ObamaCare refers to the US’ Patient and Affordable Care Act signed into law by President Barrack Obama back in 2010. This law specifies the health care reforms under the Obama administration and was created to ensure that more Americans will have health insurance coverage to take care of their medical needs. Â Before ObamaCare was put into law, as much as 16% of American citizens had no access to any type of medical insurance. The new law basically imposed some kind required insurance enrolment that is subsidized by the state government. Â Through ObamaCare, those without insurance are given access to affordable health insurance and all US citizens will experience more or enhanced benefits in terms of healthcare.
The most basic provision of ObamaCare or the Patient and Affordable Care Act is the requirement for non-insured Americans to avail of health insurance with the help of a state-funded insurance system. Â People who do not enroll in this system will be taxed depending on their income. Â People with existing insurance policies meanwhile may continue their coverage and any new stipulations under the signed healthcare law will also be applied. Â For businesses and employers, they are also mandated by law to provide health insurance benefits to their regular employees at specified dates in terms of coverage. Â Fines will be collected if these companies are unable to meet the guidelines set by ObamaCare. There are also specific guidelines for the coverage involving Americans that cannot afford to have healthcare coverage.
Various reforms to existing health care benefits for Americans are also part of ObamaCare. Â Coverage for certain medical conditions is enhanced or expanded to benefit more people. With the rising healthcare and medical cost across the US, ObamaCare is made into law to ensure that most, if not all, will have health coverage for their medical expenses when they need it the most.