With the developing era, many advancements are being observed in different areas. The same is the case with the health insurance sector. Numerous new Acts and policies have been implemented to make healthcare access easier and more affordable. This article is a short guide to the Affordable Care Act (ACA), its primary goals, and its impact on health insurance. Without delaying any further let’s get started.
What is the Affordable Care Act?
The Affordable Care Act is a formal legislative enactment of the United States that discusses several aspects of health care in the country. Also known as Obamacare or the Patient Protection and Affordable Care, it focuses on expanding health insurance coverage. ACA enables patients to access health insurance more affordably and conveniently.
Primary Goals of ACA
ACA focuses on 3 main primary goals including:
- Allow a wider range of people to access more affordable health insurance.
- Provide Medicaid coverage to an extended adult audience with less than 138% of FPL income.
- Reduce health care costs by offering innovative and advanced medical care delivery strategies
Top Ways ACA Has Improved Health Insurance Access
Here are some of the top ways ACA has left a positive impact on health insurance:
- Fewer Americans are Uninsured
ACA provides expanded health coverage for people living in the US. A significant decrease of 9% has been observed in uninsured Americans from 2010 to 2016. This shows that more people have gained access to health insurance coverage due to ACA.
- Protecting People from Discrimination
Earlier, medical underwriting was practiced that excluded people from health insurance benefits due to their existing conditions. ACA guarantees that insurers facilitate people with insurance policies regardless of their pre-existing health conditions, thus ending the discrimination factor.
- Medicaid Expansion
Multiple states opted to expand Medicaid upon the implementation of ACA allowing more people to get insurance coverage. Medicaid focuses on covering insurance for people who usually have low incomes. These include the elderly, children, low-income parents, and disabled people. The Obamacare ensured that states expand their Medicaid insurance benefits to adults also. As a result more federal funding was used to offer insurance benefits to people of all ages.
Conclusion
The ACA (Affordable Care Act) also called Obamacare is a new policy introduced to the health insurance industry. It has helped in making patient care more accessible to the patients regardless of their gender, and disease states. Moreover, ACA ensures to facilitate people with improved affordability when it comes to health care. Hopefully, now you know the positive impact of Obamacare on health care access and its significance. For any further guidance drop down your questions below.