Obamacare

Popular Terms
The informal name for a national health care plan focused on creating better access to affordable coverage in the US. It was signed into law in March of 2010 as The Patient Protection and Affordable Care Act. Among other important things, Obamacare creates exchanges where Americans can shop for different plans and see if they qualify for certain health care subsidies.

Why Is It Important?
Obamacare, also known as the Affordable Care Act (ACA), is a recently passed health care policy proposed and supported by President Barack Obama. The act's primary objective is to make quality health insurance more affordable and available to the American public.

It also requires that insurance companies have minimum standards and rates regardless of pre-existing conditions, which was a big complaint about United States health care system in the past. People will also be charged a fee or penalty if they do not have health care insurance coverage.



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