Changes in the law
What is Obamacare

“Obamacare” is a popular name for the Patient Protection and Affordable Care Act since this health reform law was championed by President Barack Obama. While the legislation contained numerous changes to the American health insurance market, its principal aspirations were the reduction of the uninsured population and the lowering of health insurance premiums. The law also contained an uninsured tax penalty on Americans who fail to obtain creditable insurance as well as requirements regarding the types of medical benefits that must be included in health insurance purchased by individuals and small groups. The law also contained a prohibition on insurance application rejections based on health status or pre-existing conditions and premium subsidies for those whose income qualified and whose premiums exceeded a set percentage of income."

Obamacare created new designs for health plans. These new health plans are often referred to as "metal plans" since they are each named after a different type of metal (Bronze, Silver, Gold, and Platinum).


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