Affordable Care Act (ACA)
The 2010 United States federal statute brought a big shake-up to health insurance! Its mission? To make coverage better and more affordable, shrink the uninsured population, and trim down those sky-high healthcare costs. Think of it as the health insurance makeover everyone was waiting for!
Detailed Explanation
The ACA brought big changes, including expanding Medicaid eligibility, setting up health insurance marketplaces, and enforcing new rules for insurance practices. It also made it mandatory for most U.S. citizens and legal residents to have health insurance.
Practical Example
Imagine Sarah is self-employed and couldn't afford health insurance before. Thanks to the ACA's marketplace, she can now compare different plans and find one that fits her budget, ensuring she has coverage for doctor visits and potential emergencies.
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