Why were exchanges implemented by the Affordable Care Act Quizlet?
Asked by: Carmine Halvorson | Last update: November 17, 2025Score: 4.8/5 (11 votes)
What is the Affordable Care Act exchange?
Another term for the Health Insurance Marketplace ®, a service available in every state that helps individuals, families, and small businesses shop for and enroll in affordable medical insurance. The Marketplace is accessible through websites, call centers, and in-person assistance.
What was the purpose of the Affordable Care Act?
The Affordable Care Act (ACA) is a comprehensive reform law, enacted in 2010, that increases health insurance coverage for the uninsured and implements reforms to the health insurance market. This includes many provisions that are consistent with AMA policy and holds the potential for a better health care system.
What did the Affordable Care Act established exchanges in order to?
An Exchange is a mechanism for organizing the health insurance marketplace to help consumers and small businesses shop for coverage in a way that permits easy comparison of available plan options based on price, benefits and services, and quality.
Why were exchanges implemented by the Affordable Care Act?
State-Based Health Insurance Exchanges
In response to the mandate that all individuals carry minimum coverage for essential health care, the health insurance exchanges aim to ensure that all American citizens can access quality and affordable health care coverage, through increased competition and price transparency.
ACA 101: A Comprehensive Guide to the Affordable Care Act
What role did states have in implementing the Affordable Care Act?
Under the ACA, states are primarily responsible for implementing significant insurance reforms that went into effect on January 1, 2014.
How did the Affordable Care Act change healthcare?
It did so by expanding Medicaid to people with incomes up to 138% of the federal poverty level (the poverty level in the continental U.S. is $15,060 for a single individual in 2024); creating new health insurance exchange markets through which individuals can purchase coverage and receive financial help to afford ...
What did the Affordable Care Act do to the economy?
Lower long-term deficits due to the ACA will mean higher national saving, which will increase capital accumulation and reduce foreign borrowing, thereby making workers more productive and increasing national income and living standards over time. 4. Improving health and making workers more productive.
What was the Affordable Care Act quizlet?
-Expands eligibility for Medicaid at or below 138% of poverty in states. -Creates state health insurance exchanges where people can buy insurance individually instead of through government or employers. -Can't deny coverage for pre-existing conditions. -Allows parents to keep kids on insurance until 26 years old.
What are the pros and cons of the Affordable Care Act?
The pros of the ACA include prohibiting insurance companies from denying coverage based on health history and providing subsidies to reduce premiums and out-of-pocket costs. The cons of the ACA include small business challenges and limited provider options in some regions.
What are the intentions of the Affordable Care Act?
The Patient Protection and Affordable Care Act (ACA) has 3 main objectives: (1) to reform the private insurance market—especially for individuals and small-group purchasers, (2) to expand Medicaid to the working poor with income up to 133% of the federal poverty level, and (3) to change the way that medical decisions ...
What are the essential benefits of the Affordable Care Act?
A set of 10 categories of services health insurance plans must cover under the Affordable Care Act. These include doctors' services, inpatient and outpatient hospital care, prescription drug coverage, pregnancy and childbirth, mental health services, and more. Some plans cover more services.
Who does the ACA impact and who does it not?
The ACA affects virtually all aspects of the health system, including insurers, providers, state governments, employers, taxpayers, and consumers. The law built on the existing health insurance system, making changes to Medicare, Medicaid, and employer-sponsored coverage.
Why is the Affordable Care Act needed?
The ACA helps cut high U.S. health care costs.
The ACA helps reduce costs, and its reforms should be continued to reduce costs in the future. Health care spending represented 17.5 percent of our gross domestic product in 2014, and is expected to reach 20.1 percent by 2025.
What is the difference between marketplace and exchange?
Exchange trading follows set protocols, with centralised systems matching buyers and sellers automatically. Marketplace transactions typically involve direct interaction between parties, often including negotiation of specific terms and conditions.
Can I refuse health insurance from my employer and get Obamacare?
Obamacare is available to everyone, whether or not their employers offer insurance. From a practical standpoint, though, there are financial consequences to doing this. Often, an employer subsidizes part or all of their employees' coverage.
Why were exchanges implemented by the Affordable Care Act (ACA) Quizlet?
What is the purpose of a Health Insurance Exchange? To give consumers a way to access and purchase health coverage that they may not otherwise have been able to obtain or afford. True or False: In the ACA, there is no prohibition on the rescission of coverage due to illness, insurance companies can do this at will.
What was the primary goal of the Affordable Care Act?
About the Affordable Care Act
The law has 3 primary goals: Make affordable health insurance available to more people. The law provides consumers with subsidies (“premium tax credits”) that lower costs for households with incomes between 100% and 400% of the federal poverty level (FPL).
Who did the Affordable Care Act help?
Since 2010, The ACA has given more than 40 million Americans access to health care, expanded Medicaid to 40 states to cover 21 million low-income adults under 65, and protected as many as 133 million (Opens in a new tab) with pre-existing conditions from losing their health insurance.
What is the biggest problem with the Affordable Care Act?
Impact on Individual Insurance
It was also known that consumers would face a very different health insurance world under the ACA, with some people seeing their premiums go down and some seeing them go up, and the majority of Americans seeing higher deductibles, higher copays, and a smaller pool of providers.
How did the Affordable Care Act affect the economy?
The Affordable Care Act (ACA) Marketplace has led to substantial coverage gains among small business owners and self-employed individuals, and the American Rescue Plan has bolstered the Marketplace's positive effects on household finances. substantial benefits in terms of improved household finances.
In which 3 ways did the Affordable Care Act affect individuals?
- If you get sick, an insurance company cannot cancel your policy.
- Health insurance companies cannot turn down your application because of your health status.
- Women can no longer be charged more for insurance than men.
Who is not eligible for Obamacare?
Must live in the United States. Must be a U.S. citizen or national (or be lawfully present). Learn about eligible immigration statuses. Cannot be incarcerated in prison or jail.
Which was an effect of the Affordable Care Act?
The ACA has generally been associated with significant improvements in access and affordability and increases in outpatient utilization among low-income populations, but changes in inpatient utilization and health outcomes have been less conclusive.