
In 2010, President Obama signed into law the Patient Protection and Affordable Care Act, commonly known as Obamacare. This landmark legislation sought to make health insurance more accessible for more people.
Obamacare not only provided protection to people with preexisting conditions, but it also enabled many Americans to access healthcare through state-based marketplaces and Medicaid expansion. Here are 10 ways obamacare has transformed Americans’ lives for the better:
1. It Makes Health Insurance More Affordable
In 2010, the Affordable Care Act (ACA) was passed to address several problems with health insurance. It includes numerous regulations designed to make coverage more affordable and better safeguard those with preexisting conditions.
The law also established a health insurance marketplace, enabling people to shop and compare health plans. Furthermore, it offers subsidies to help cover premium costs.
Ultimately, the Affordable Care Act has made health insurance more accessible for most lower-income individuals. Subsidies from the ACA will reduce out-of-pocket expenses, and new coverage will enable them to access free preventive care.
However, the Affordable Care Act has also caused premiums to go up for some Americans who already had health insurance. This is because ACA requirements have required insurers to cover more benefits and safeguard those with preexisting conditions.
2. It Protects People with Pre-Existing Conditions
What Obamacare Does:
The Affordable Care Act (ACA) makes it illegal for insurance companies to deny or charge you more for health coverage due to your past medical condition. It also guarantees that plans won’t discriminate based on health status and that essential benefits like maternity and childbirth are covered from the day you enroll.
Without the law, people with preexisting conditions like asthma, high blood pressure or cancer could be denied health coverage or charged higher rates. Millions of Americans would be left without coverage.
Furthermore, 32 to 82 million workers with preexisting conditions would be at risk of losing their job-based coverage if the new health law isn’t passed. This is especially true for chronically ill individuals who may be less inclined to switch jobs out of fear that their employer-provided insurance will be discontinued.
3. It Makes Health Care More Accessible
Obamacare makes health care more accessible for many who had no prior access. It expands Medicaid coverage, subsidises private insurance and creates the health insurance marketplace where individuals can compare and shop for affordable health plans.
The Affordable Care Act (ACA) has also helped enhance patient quality of care. For instance, it requires insurers to spend at least 80% of premiums on medical care and improvements rather than administration expenses.
Additionally, pre-existing conditions are safeguarded by this act so those with illnesses like cancer or heart disease can purchase their own health insurance plan without fear of being denied coverage due to their conditions.
The Affordable Care Act (ACA) also encourages more primary care physicians into the field by offering incentives. This helps reduce the number of patients who don’t visit their doctor or forgo treatment due to lack of insurance.
4. It Makes Health Care More Efficient
The Affordable Care Act (ACA) includes cost-control measures that slow the growth of healthcare spending, making it more accessible over time. These include accountable care organizations (ACOs), bundled payment reforms, and other approaches that incentivize providers to provide quality over quantity care.
The Affordable Care Act also encourages doctors to practice strong primary care. This type of treatment helps patients maintain their own health and minimizes the chance for complications or delays with a procedure.
Under the Affordable Care Act (ACA), insurance companies must dedicate at least 85 percent of the money they collect in premiums to patient care and refund any remaining funds to enrollees. This encourages insurers to provide high-quality, low-cost healthcare while avoiding unnecessary medical waste. These cost control measures have helped reduce Medicare and overall healthcare spending.