The Patient Protection Act and Affordable Care Act (PPACA), also known by the Affordable Care Act, was passed by Congress. President Barack Obama signed it into law in March 2010.
The legislation governing health reform was intended to provide health insurance for uninsured Americans as well as lower healthcare costs. Obamacare is another name for the ACA. Know more about ACA reporting services through www.cxcsolutions.com/compliance/aca-reporting.
The ACA has three main goals.
- The ACA provides subsidies in the form of tax credits to households earning between 100 percent- 400 percent of the federal poverty line, making health insurance more accessible.
- The ACA expanded Medicaid to all adults with incomes less than 138 percent of the federal poverty line. Some states have not expanded Medicaid programs.
- The ACA supports innovative ways of delivering health care that lower overall costs.
Many patient rights and protections are provided by the ACA. These include:
- Pre-existing conditions are prohibited from insurance companies from reducing, or even denying, benefits.
- People under 26 years old can get health insurance through their parents' plans.
- Health care coverage can be eliminated by eliminating dollar limits for annual and lifetime.
- Rate increases based on gender, health status or other factors are prohibited.
- Patients have the ability to appeal quickly against decisions made by insurance companies.
- All plans must provide minimum benefits. This includes free preventive care, visits to OB GYN providers with no referral and free birth control.