The Affordable Care Act, or Obamacare, has made health insurance accessible to more Americans while simultaneously increasing consumer protections – for instance preventing insurers from dropping sick patients without prior approval and setting lifetime coverage limits on coverage policies.
Insurance reform ensures that most of your premium dollar goes toward medical care rather than administrative overhead or advertising, with affordability, saving money-saving care options and expanding Medicaid being its goals.
1. It's cheaper
Prior to the Affordable Care Act (ACA), insurance companies could charge higher premiums or deny coverage due to preexisting conditions, making insurance prohibitively expensive or impossible for some, with little recourse available for appealing decisions made by insurance providers.
Obamacare requires that at least 80% of your premium go directly towards medical care and improvements, and prevents insurers from raising your rate without valid reason.
The Affordable Care Act makes it possible for all Americans to secure affordable health insurance plans. You can compare costs in your area through health exchanges run by states or the federal government; your exact cost will depend on factors like age, family size and income as well as where you reside and the plan you select.
Subsidies or tax credits may also help offset the cost of your Obamacare plan, depending on where you reside and its cost for benchmark silver plans set by the government.
2. It's better for the environment
The Affordable Care Act, also known as Obamacare, has helped millions of Americans gain health coverage and improved coverage and benefits for those already covered. It has also saved lives and strengthened our healthcare system despite an ongoing campaign by opponents to undermine it and over 50 attempts at repeal.
As soon as it was signed into law, opponents launched attacks against it, challenging it both before Congress and the Supreme Court. But in 2012, the latter upheld it.
The Affordable Care Act includes the individual mandate, which requires people to obtain health insurance or face a fine. This measure helps bring healthier, younger individuals into risk pools that help to keep costs down; insurers were required to offer basic health benefits and prohibited discrimination based on preexisting conditions – two provisions which have helped many Americans improve their health and well-being, yet are being undercut by Trump administration policies.
3. It's more accessible
The Affordable Care Act, more commonly known by its acronym ACA or Obamacare, is well-known for helping millions of Americans gain health coverage at lower costs through government-run exchanges. Additionally, key consumer protections have been put in place – including prohibiting insurers from denying coverage or charging more to people with preexisting medical conditions. While these changes have made health insurance more accessible for many, millions remain eligible for Medicaid or cost assistance under ACA.
The Trump administration and Congress have an opportunity to enhance and expand the Affordable Care Act (ACA), such as adding a Medicare-like public option. But affordability cliff is still on the horizon and federal governments will need to rework premium subsidies that support monthly costs of many Obamacare plans. Furthermore, the ACA has helped reduce uninsured rates by making primary care easier to access; RAND developed tools to assist newly insured Americans navigate their options more easily and find care providers more quickly.
4. It's better for your health
The Affordable Care Act, commonly known as Obamacare, offers affordable health coverage to millions of Americans through subsidized private marketplace plans. Furthermore, pre-existing condition discrimination was prohibited as were insurers from excluding essential benefits or placing lifetime limits on coverage.
Lastly, the Affordable Care Act mandates large employers to offer health coverage to full time workers or face penalties; this requirement has provided families with an incentive not to drop out or shift to part time work and has provided much-needed boost for employment growth.
The Affordable Care Act has strengthened consumer protections against health insurance companies that engage in overly aggressive pricing or restrict care, while making affordable healthcare a reality for people with lower incomes. These improvements have had profoundly positive effects on lives; and are here to stay; any challenge by one Supreme Court ruling would likely fail.
