What are 3 parts of the Affordable Care Act?
The law has 3 primary goals:
- Make affordable health insurance available to more people.
- Expand the Medicaid program to cover all adults with income below 138% of the FPL.
- Support innovative medical care delivery methods designed to lower the costs of health care generally.
What does the Affordable Care Act protect?
The “Affordable Care Act” (ACA) is the name for the comprehensive health care reform law and its amendments. The law addresses health insurance coverage, health care costs, and preventive care.
Who qualifies for the Affordable Care Act?
Individuals at all income levels can sign up for health insurance under Obamacare. If you have a household income between 100% and 400% of the federal poverty level (FPL), you may qualify for a premium tax credit or special subsidies that will reduce health insurance costs.
What are the major problems with the Affordable Care Act?
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What are the pros and cons of the Affordable Care Act?
It makes healthcare more affordable for a majority of people.
It removes the idea of pre-existing conditions. Before the Affordable Care Act,insurers could deny health insurance coverage to people who had suffered from a previous health emergency.
It removes time limits that are placed on care. The Affordable Care Act also removed the lifetime caps or specific time frames that people were given to use their
Screenings and preventative services are covered by the Affordable Care Act. Many preventative services,including care screenings,are included in the policies offered under the Affordable Care Act.
It improves access to prescription medications. Many Americans are unable to access or afford the life-saving medication that they need.
It allows children to stay on a parent’s plan until the age of 26. For young people,obtaining health insurance can be a difficult proposition.
Many families qualify for credits through the Affordable Care Act.
It increased the tax credits that businesses could claim for healthcare expenses. Business with 50+full-time employees would be required to provide health insurance under the Affordable Care Act.
It reduces the reliance people have on emergency room services.
What are the goals of the Affordable Care Act?
There is evidence that it has improved access to health insurance coverage for approximately 20 million Americans.
Marketplace enrolment has been lower than expected: The Congressional Budget Office estimated that 21 million people would be enrolled on the exchanges.
From the public perspective,its impact was not perceived as fully beneficial.
What are the requirements for Affordable Care Act?
IR-2011-31,IRS Issues Interim Guidance on Informational Reporting of Employer-Sponsored Health Coverage
Notice 2010-69 PDF,Interim Relief with Respect to Form W-2 Reporting of the Cost of Coverage of Group Health Insurance Under § 6051 (a) (14)
Webinar,Reporting of Employer Healthcare Coverage on Form W-2.