ACA: What You Need to Know

What is the Affordable Care Act?

The Affordable Care Act (ACA), also known as Obamacare, is a healthcare reform law that was passed in 2010. The ACA has made sweeping changes to the American healthcare system in the name of expanding affordable health insurance coverage. One of the main goals was to reduce the number of uninsured Americans.

How has the ACA changed healthcare?

The ACA has made a number of changes to the healthcare system, including:

Expanding Medicaid: The ACA expanded Medicaid eligibility to all adults with incomes below 138% of the federal poverty level.
Providing subsidies for health insurance: The ACA provides subsidies to help low- and middle-income Americans afford health insurance.
Setting up health insurance exchanges: The ACA established health insurance exchanges where individuals and small businesses can shop for health insurance plans.
Requiring employers to provide health insurance: The ACA requires employers with 50 or more employees to provide health insurance to their employees.

What are the benefits of the ACA?

The ACA has provided a number of benefits to Americans, including:

Reducing the number of uninsured Americans: The ACA has reduced the number of uninsured Americans by millions.
Providing subsidies for health insurance: The ACA provides subsidies to help low- and middle-income Americans afford health insurance.
Setting up health insurance exchanges: The ACA established health insurance exchanges where individuals and small businesses can shop for health insurance plans.
Requiring employers to provide health insurance: The ACA requires employers with 50 or more employees to provide health insurance to their employees.

What are the challenges of the ACA?

The ACA has also faced a number of challenges, including:

The high cost of health insurance: Health insurance premiums have continued to rise under the ACA.
The narrow networks of some health insurance plans: Some health insurance plans offered through the exchanges have narrow networks of providers, which can make it difficult to find a doctor or hospital that accepts the plan.
The complexity of the ACA: The ACA is a complex law, and many people have found it difficult to understand.

If you are looking for more information on the ACA, please see one of our licensed agents.