The Affordable Care Act (ACA), also known as Obama Care, was enacted during Obama’s presidency to provide affordable health insurance for all Americans. Its objectives are straightforward yet ambitious: to make healthcare more accessible, more affordable, and more comprehensive for everyone. The ACA has been a game-changer in improving access to essential health services.
Let the insurance experts in Hialeah, Florida tell you how Obama Care has been instrumental in reducing the number of uninsured Americans and enhancing healthcare access.
One of the achievements of Obama Care is the reduction of uninsured Americans. It does this in three ways:
- More Federal Medicaid Funds Per State
Under this law, the federal government pays for the coverage costs for those newly insured under Medicaid expansion. The amount of federal funds provided to each state for Medicaid varies based on several factors. In general, states with higher populations and higher numbers of eligible individuals may receive more federal funds for Medicaid.
- Less Spending on Uncompensated Care
Uncompensated care costs occur when people who are uninsured or have limited income cannot afford the high cost of medical care if and when they do need to use healthcare. Though uninsured people use less care than their insured counterparts, when they do use care and cannot pay for it themselves, the cost of that care is considered uncompensated.
- Greater Medicaid Expansion
Another key component of the success of Obama Care in Homestead, Florida has been the expansion of Medicaid. States that have expanded Medicaid under the ACA have seen larger decreases in their uninsured rates compared to those that haven’t. This expansion has been a lifeline for many low-income adults, providing them with essential healthcare coverage that was previously out of reach.
We understand the complexities of healthcare insurance coverage in today’s ever-evolving landscape. As a trusted insurance provider of life insurance in Miami, Florida, we are committed to helping our clients navigate these changes and find the best healthcare coverage for their needs.
For your business insurance or more, contact J.E. Insurance Associates DBA Amco Insurance today.