Affordable Care Act

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Definition of 'Affordable Care Act'

The Affordable Care Act (ACA), also known as Obamacare, is a landmark piece of legislation that was signed into law by President Barack Obama in March of 2010. The ACA is a comprehensive health care reform law that was designed to make health insurance more accessible and affordable for Americans.

The ACA has a number of provisions that are designed to make health insurance more affordable for people. For example, the ACA provides subsidies to help people with low incomes purchase health insurance. The ACA also prohibits insurers from denying coverage to people with pre-existing conditions.

The ACA has also made a number of changes to the way health insurance is regulated. For example, the ACA requires insurers to cover a range of essential health benefits. The ACA also limits the amount that insurers can charge people with high medical expenses.

The ACA has been a controversial law since its passage. Some people believe that the ACA has made health insurance more affordable and accessible, while others believe that the ACA has made health insurance more expensive and complex.

The future of the ACA is uncertain. In 2017, the Trump administration took a number of steps to undermine the ACA, including cutting funding for the ACA's health insurance exchanges. The future of the ACA will likely depend on the outcome of the 2020 presidential election.

In addition to the provisions that are directly related to health insurance, the ACA also includes a number of other provisions that are designed to improve the health of Americans. For example, the ACA provides funding for preventive care, such as screenings for cancer and diabetes. The ACA also includes provisions that are designed to improve the quality of care that patients receive.

The ACA is a complex law with a number of different provisions. The full impact of the ACA will not be known for many years. However, the ACA is already having a significant impact on the health care system in the United States.

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