What Is Affordable Care Act?

Better Essays

What is Affordable Care Act? It is a federal statue, which is a bill passed by Congress and signed into law by President Obama in 2010 (Fordney, 2017). Quality care, positive outcomes and access to affordable health care insurance has been an issue on the priority list of government officials. With this healthcare change the objective is to enhance access to care and expand insurance coverage for all Americans. The law incorporates expansions to be established, including the improvement of Medicaid eligibility. Also, the development of medical coverage exchanges, which will give buyers security and flexibility of healthcare coverage. To diminish cost to buyer’s new models for payments was established, thus improving the way care is …show more content…

Any individual not obtaining health insurance will pay a tax penalty of six hundred and ninety-five dollars and a half percent of taxable income. Each year the fine will be increased by the government based on a cost-of-living adjustment (Sanger-Katz, 2014).
While rumors lingered on how Affordable Care Act would affect seniors with Medicare. A better understanding of how it will influence seniors and other Medicare recipients with the act in place. The first benefit Medicare recipients will see differences in the preventative care services. This includes colonoscopies and mammograms will be at a reduced rate. Additionally, a wellness visit each year at no charge. Prior to this act these would have been charged or have been an out of pockets expense. Additionally, each Medicare recipient will receive a year wellness visit at no charge. Finally, fifty percent markdown for medicines secured under Part D of Medicare, including brand name products. This will generate lower costs of prescriptions for all Medicare recipients. The that Affordable Care Act creates a reduction in waste, fraud and abuse, which will provide a twelve-year extension of Medicare allowing savings on premiums and coinsurance. Medicaid which is a government insurance program that is based on the income of all United States citizens. The eligibility for this program will be established using the

Get Access