Summary of Patient Protection and Affordable Care Act

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Summary of Patient Protection and Affordable Care Act (PPACA)?
According to the Department of Health and Human Services (HHS) the Affordable Care Act, also known as the Patient Protection and Affordable Care Act (PPACA), and informally as “Obamacare,” was signed into law by President Barack Obama on March 23, 2010. The target of the PPACA is a health care law that focus on improving the health care system of the United States by widening health coverage to more Americans, as well as protecting existing health insurance policy holders.
The Affordable Care Act requires for all U.S. citizens and legal residents to have health insurance by 2014. The PPACA will create a state-based American Health Benefit Exchange through which individuals can purchase coverage, with premium and cost sharing credits available to individuals and families based upon their yearly earnings. This pooling is going to be skewed towards the spectrum of lower income levels due to the concentration of the American population whom fall between the federal poverty level (poverty level is $19,530 for a family of three in 2013). There is also a portion of the PPACA that allocates for the creation of separate exchanges through which small businesses will be mandated to purchase and provide coverage for their employees.
In order to guarantee access to affordable health insurance, the law prohibits discrimination based on the health status of the individuals, which means that insurance companies must allow the
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