Understanding the Affordable Care Act (ACA)

The Affordable Care Act (ACA), also known as Obamacare, is a federal law that was enacted in 2010 to increase the accessibility and affordability of health insurance. Some of the key provisions of the ACA include:

• Requiring most individuals to have health insurance or pay a penalty

• Creating state-based health insurance exchanges where individuals can shop for and compare health insurance plans

• Providing premium tax credits to help lower-income individuals afford insurance

• Expanding Medicaid to cover more low-income individuals

• Prohibiting insurance companies from denying coverage or charging higher premiums to individuals with pre-existing conditions

• Requiring insurance plans to cover certain essential health benefits, such as preventive care and prescription drugs

The ACA has made significant progress in increasing the number of Americans with health insurance, but it has also faced legal challenges and political opposition.