The Affordable Care Act ( ACA ), also known as Obamacare, is an act that was established to protect consumers from insurance companies that were able to restrict care or increase costs of health care. Obamacare was signed into law in 2010. The main goal of this act was to provide affordable insurance to all people who live in America. There are millions of people who have benefited by receiving insurance coverage through Obamacare. Many of these people were disabled or unemployed. There are many benefits that Obamacare provides for Americans.
The number of Americans who have health insurance has increased since 2010.
Within the first five years of Obamacare being established, more than 16 million Americans obtained health insurance. The majority of these people are young adults.
Obamacare ( ACA ) Made Health Insurance More Affordable.
For a lot of people, health insurance was a lot easier to obtain under Obamacare. Insurance companies are required to spend at least 80 percent of insurance premiums on medical improvements and medical care. Although health insurance is not free, Obamacare did give people a wide range of coverage options to choose from.
Obamacare ( ACA ) Reduced Prescription Drug Costs.
Many people are not able to afford the prescription drugs they need. Obamacare promised to make prescription drugs more affordable. The number of generic and prescription drugs that Obamacare covers is growing significantly each year. The savings on prescription drugs within the first five years of Obamacare was approximately $15 million.
Obamacare is an act that ultimately provides more affordable health care to American citizens. For more information about how Obamacare can benefit you, contact us.