What are the basics of Obamacare?

What are the basics of Obamacare?

Obamacare is an alternative term for the Patient Protection and Affordable Care Act (ACA) of 2010. The aim with this plan was to make health care more affordable for everyone by lowering costs for those who can’t afford them.

What is Obamacare and how does it work?

When you enroll in a health insurance plan, you typically pay a monthly premium to keep that plan. Obamacare includes subsidies to help lower income individuals cover the cost of their plans. Obamacare also provided payments to insurance companies to keep their deductibles low.

What did Obamacare actually do?

It was designed to extend health coverage to millions of uninsured Americans. The act expanded Medicaid eligibility, created a Health Insurance Marketplace, prevented insurance companies from denying coverage due to pre-existing conditions, and required plans to cover a list of essential health benefits.

What is Obama healthcare plan?

Obama Care ensures Healthcare coverage to any legal US resident who cannot currently get quality Healthcare through their employer so that access to health care is no longer dependent of health insurance companies. Obama Care expands Medicaid to uninsured low-income Americans.

What was the main goal of Obamacare?

ObamaCare, officially called the Patient Protection and Affordable Care Act, is a health care reform law signed in 2010 by President Barack Obama. The general goal of the law is to improve the quality, access, and affordability of healthcare and health insurance.

What happens if you dont have health care plan under Obamacare?

If you don’t have a health care plan you’ll most likely need to obtain some type of coverage and maintain it throughout the year, get an exemption , or pay a per month fee on your taxes. This fee is part of ObamaCare’s Individual Mandate.

What kind of coverage is required under Obamacare?

What does Obamacare cover? The specific coverage you receive with your plan under Obamacare will vary based on the plan you choose. However, the act has required coverage for some medical services, including: Preventative care; Emergency care; Outpatient care when you are not admitted to the hospital; Hospitalization; Pregnancy and newborn care

What was the original cost of Obamacare?

The cost of ObamaCare was originally projected to be around $1.1 trillion over the 10 year period following its implementation.