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other important information.
Some of the facts related to the Obamacare Act are as below:
Fact 1: The Affordable Care Act was nicknamed as the Obamacare Act as it was signed by the then US President Barack Obama. This nickname was the act of critics who wanted to associate this Act with Obama.
Fact2: Earlier many people went bankrupt while paying for their medical expenditure. Since its introduction, the ACA has lowered down the rates by almost 50% within the last 6 years. By regularizing the premium rates and removing the yearly and lifetime dollar limit.
Fact3: Previously lot of discrimination was done in cases of women and the elderly people. But the Affordable Care Act has strongly reprimanded such mal practices and ensured that women rights are properly upheld and no gender discrimination is practiced by anyone involved with the American health care system. According to statistics almost 47 million women have benefitted directly from this act till now and the number is increasing day by day.
Fact4: Although the premium rates of the plans that are offered under the Obamacare Act has seen a steady rise over the years. But still, the average monthly premium for the plans is well within the reach of low earning citizens. Even in 2016, plans can be found as low as $75 per month.
Fact5: Arguably the best aspect of the ACA is that it mandates all insurance providers and doctors to treat patients who have existing health condition. Studies show that 1 out of 3 individuals in the US suffer from some sort of minor or major pre-existing health conditions due to which they had to face denial of any form of medical insurance previously. The main victims were people who had major health conditions. But with the ACA mandate such patients are now receiving full medical coverage and that to at affordable rates.
Fact6: After the introduction of the ACA the rate of uninsured adults in the US have drastically reduced. Be it because of the fine that is levied for willful defaulters or be it the numerous benefits that the ACA offers, day by day more and more people are signing up for health insurance through the marketplace. Even people who were previously unable to purchase a plan are now able to do so because of the huge subsidies that are given from the government. Another important aspect that contributed to this fact is that adults up to the age of 26 are allowed to be covered by their parents plan.
Fact7: Previously choosing an insurance plan, comparing them and finalizing the best one was a very tedious work. Since no platform contained all the details, many times customers had to miss out on the best. But the ACA plans can be purchased from the marketplace which is another name for the government website where all the plans are hosted. It has become much easier to view all the plans, compare them, find out the amount of subsidy one is eligible for and ultimately finalizing on the best one which meets all the medical requirements.