The Patient Protection and Affordable Care Act (PPACA), informally referred to as Obamacare, is a United States federal statute signed into law by President Barack Obama on March 23, 2010. The law (along with the Health Care and Education Reconciliation Act of 2010) is the principal health care reform legislation of the 111th United
President Barack Obama on Thursday called the Supreme Court's decision upholding his signature health care law "a victory for people all over this country whose lives will be more secure because of this law."
The law allows all Americans to make health insurance choices that work for them while guaranteeing access to care for our most vulnerable, and provides new ways to bring down costs and improve quality of care.
Insurance companies can no longer deny coverage to children because of a pre-existing condition like asthma and diabetes, providing peace of mind for parents of the more than 17.6 million children with pre-existing conditions.
The nation's highest court preserved the law's "individual mandate" requiring that most Americans obtain health insurance by 2014 or pay a tax. The justices also preserved, with some changes, a provision of the law expanding the Medicaid health insurance program for the poor.
The court's decision largely vindicates Obama and Democratic lawmakers in their attempt to fix a system that, while representing 18 percent of the economy, leaves 16 percent of Americans uninsured, a fact that sets the United States apart in the industrialized world.
With the strokes of 22 pens, President Obama signed his landmark health care overhaul — the most expansive social legislation enacted in decades — into law on Tuesday, saying it enshrines “the core principle that everybody should have some basic security when it comes to their health care.”
There are no real cons to health care reform—this has been decades in the making. There is a lot of misinformation about what the health care reform bill does and with time, as information gets out, this will get corrected so that people understand how necessary this bill is and what it will do for the American people.
Some big types of costs were simply left out. For example, any kind of insurance creates a problem called “moral hazard”—people over-utilize services that don’t do much to improve their health, because someone else is paying.
A key part of the law is the minimum coverage provision, also known as the individual mandate, that requires most individuals to buy health insurance by 2014 or pay a penalty.
The health care law seeks to extend insurance to more than 30 million people, primarily by expanding Medicaid and providing federal subsidies to help lower- and middle-income Americans buy private coverage.
Both the policy justification, and part of the Constitutional justification, for including the individual mandate in Obamacare is that the individual mandate will eliminate “free-riding,” in which the uninsured take advantage of free emergency-room care at taxpayer expense.