Why was the Affordable Care Act important?

Asked by: Mike Klein  |  Last update: November 9, 2023
Score: 4.7/5 (51 votes)

Since its enactment on March 23, 2010, the Affordable Care Act has led to an historic advancement of health equity in the United States. This landmark law improved the health of all Americans, including women and families, kids, older adults, people with disabilities, LGBTQI+ and communities of color.

What are 3 benefits of the Affordable Care Act?

Affordable Care Act (ACA) basics

Among other things, the ACA made it easier for many people to get coverage, removed annual and lifetime limits on essential health benefits and put in place requirements that individuals have medical coverage or pay a tax penalty.

What are two major benefits of the Affordable Care Act?

Two of the biggest coverage expansion provisions of the ACA went into full effect in 2014: the expansion of Medicaid and the launch of the health insurance marketplaces for private coverage. Together, these programs now cover tens of millions of Americans.

Why was the Affordable Care Act of 2010 important?

The main goal of the ACA was to ensure that every American could afford a health insurance plan. This allowed families whose income put them at poverty level to be able afford their health insurance premium. This is done in the form of issued tax credits.

What did the Affordable Care Act actually do?

The ACA expanded Medicaid eligibility, created a Health Insurance Marketplace, and prevented insurance companies from denying coverage due to preexisting conditions. The Affordable Care Act requires insurers to cover a list of essential health benefits.

Obamacare Explained: Understanding the Affordable Care Act

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How did the Affordable Care Act improve quality?

Findings In this nationally representative cross-sectional study of 123 171 individuals, the ACA was associated with more high-value diagnostic and preventive testing, improved patient experience and access, and decreased out-of-pocket expenditures for lower income US individuals.

Did the Affordable Care Act save lives?

We find a reduction in all-cause mortality in ages 20 to 64 equaling 11.36 deaths per 100,000 individuals, a 3.6 percent decrease. This estimate is largely driven by reductions in causes of death likely to be influenced by access to health care, and equates to one life saved per 310 newly covered individuals.

Did the Affordable Care Act help the economy?

In reviewing evidence over the past five years, this report concludes that the ACA has had no net negative economic impact and, in fact, has likely helped to stimulate growth by contributing to the slower rise in health care costs.

Which was an effect of the Affordable Care Act?

The ACA enabled people to gain coverage by 1) expanding the publicly funded Medicaid program to cover adults with annual incomes up to 138% of the federal poverty level; 2) establishing the Health Insurance Marketplace for individuals and small businesses, allowing them to purchase private health insurance (PHI); and 3 ...

What are the 10 essential benefits of the Affordable Care Act?

Essential health benefits ensure that health plans cover care that patients need
  • Ambulatory patient services (outpatient services)
  • Emergency services.
  • Hospitalization.
  • Maternity and newborn care.
  • Mental health and substance use disorder services, including behavioral health treatment.
  • Prescription drugs.

Who does the ACA benefit the most?

2020). The coverage gains under the ACA made it easier for people to get health care. Adults with low income have benefited the most from the law's insurance subsidies, out-of-pocket cost protections, and expansion in Medicaid eligibility.

How many Americans benefited from the Affordable Care Act?

New Reports Show Record 35 Million People Enrolled in Coverage Related to the Affordable Care Act, with Historic 21 Million People Enrolled in Medicaid Expansion Coverage.

Did the Affordable Care Act increase taxes?

To raise additional revenue for reform, the ACA imposed excise taxes on health insurers, pharmaceutical companies, and manufacturers of medical devices; raised taxes on high-income families; and in-creased limits on the income tax deduction for medical expenses.

What are the two main parts of the Affordable Care Act?

The law has 2 parts: the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act.

Who did the Affordable Care Act hurt?

The biggest Obamacare losers are people who lost their insurance but are unlikely to qualify for subsidies through one of the new exchanges, which require an income of less than $47,000 for an individual or $95,000 for a family of four.

When was the Affordable Care Act put into effect?

The Patient Protection and Affordable Care Act was signed into law on March 23, 2010. The ACA was amended by the Health Care and Education Reconciliation Act on March 30, 2010.

What impact has the Affordable Care Act had on Medicare?

The ACA closed the Medicare Part D coverage gap, or “doughnut hole,” helping to reduce prescription drug spending. It also increased Part B and D premiums for higher-income beneficiaries. The Bipartisan Budget Act (BBA) of 2018 modified both of these policies.

How successful was the Affordable Care Act?

By any metric, it has been wildly successful. Has it improved coverage? Indisputably, yes. More than 20 million people have gained coverage as a result of the ACA.

Has the Affordable Care Act helped people?

The ACA has reduced the number of uninsured people to historically low levels and helped more people access health care services, especially low-income people and people of color.

What did Biden do to the Affordable Care Act?

For his first two years in office, President Biden prioritized the ACA in his legislative agenda. Early in his term, he signed the American Rescue Plan Act of 2021 (ARPA), which included a significant increase in premium subsidies for Marketplace enrollees, through 2022.

Did the Affordable Care Act reduce the deficit?

In keeping with the President's pledge that reform must fix our health care system without adding to the deficit, the Affordable Care Act reduces the deficit, saving over $200 billion over 10 years and more than $1 trillion in the second decade.

What are three benefits of the Affordable Care Act quizlet?

Match
  • extending insurance coverage to the uninsured/underinsured.
  • decreasing costs by improving efficiency.
  • expanding prevention and wellness programs (PH measures)
  • protecting against undue financial burdens on individuals as a result of healthcare expenditures.
  • improving patient safety and quality of care.

What is one requirement of the Affordable Care Act?

One provision contained in the law is known as the “individual mandate” which requires that all Americans (regardless of age) be covered by health insurance (through a group or individual plan) or pay an annual financial penalty assessed by the Internal Revenue Service, unless waived under certain limited circumstances ...

How did the Affordable Care Act affect diabetes?

The ACA made it illegal for insurers to deny coverage or charge higher premiums to individuals with preexisting conditions like diabetes, paving the way for millions of Americans to gain coverage free from discrimination based on health status.

How did the Affordable Care Act affect minorities?

The ACA has reduced racial/ethnic disparities in coverage, although substantial disparities remain. Further increases in coverage will require Medicaid expansion by more states and improved program take-up in states that have already done so.