The Affordable Care Act is a U.S. law that seeks to reform both the healthcare and health insurance industries in America. The law aims to increase the quality, availability, and affordability of private and public health insurance to over 44 million uninsured Americans through its provisions, which include new regulations, taxes, mandates, and subsidies.
The law also works toward curbing the growth in healthcare spending in the U.S., which has been rising at an unsustainable rate.
According to some sources, ObamaCare includes new benefits, rights and protections and provisions to expand coverage and make it more affordable.
In the years since it’s become a law, the Affordable Care Act has made a difference by providing rights and protections to more than 100 million Americans, and has helped to reduce the uninsured rate.
While it may seem like ObamaCare isn’t making much of dent, that is inaccurate. According to an April 2014 CBO report, the uninsured rate is projected to drop sharply during 2016’s open enrollment as more Americans become aware of the fee and subsidies and the rate should continue to fall until around 2024.
As of the second quarter of 2015, the latest uninsured rate was 11.4 percent for Americans 18 – 64 and 9.2 percent for all Americans.
Even though it seems to be working, many Americans are still against the idea of government being the primary regulator of health insurance.