What Obama’s health care law does

Mar 24, 2012, 1:47 PM

(AP) – A brief summary of the 900-page plus Affordable Care Act, unless noted provisions take effect in 2014:

_Provides coverage to more than 30 million uninsured.

_Expands Medicaid to cover more uninsured low-income people.

_Creates exchanges, state-based health insurance markets, for small businesses and people buying private coverage individually.

_Provides government subsidies for many middle-class people buying private health insurance through an exchange.

_Allows young adults to stay on parents’ coverage until age 26. Already in effect.

_Requires health plans to cover preventive care without charging co-pays. Already in effect.

_Requires most citizens and legal residents to carry health insurance, either through an employer, a government program or by buying a policy directly. IRS will assess fines for noncompliance.

_Requires companies with 50 or more workers to provide coverage, or pay fines if any of their employees ends up getting a health insurance subsidy.

_Raises taxes on upper-income households; imposes a variety of taxes and fees on the health care industry. Places a 10 percent sales tax on indoor tanning. Some taxes already in effect.

_Cuts Medicare payments to hospitals, insurers and other service providers; improves preventive benefits for Medicare recipients and gradually closes prescription drug coverage gap. Limits future increases in Medicare spending. Some Medicare provisions already in effect.

_Significantly increases federal regulation of the health insurance industry. Already in effect.

_Congressional Budget Office estimates coverage expansion will have a net cost of $1.1 trillion from 2012-2021. Spending cuts and tax increases are currently projected to offset the cost, for a modest reduction in federal budget deficits.

Source: Associated Press research.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

United States News

FILE -  A Goodyear tire sits on display at a tire shop on Feb. 12, 2014, in South Euclid, Ohio. A f...
Associated Press

Arizona lawyer subpoenaed in criminal investigation of Goodyear tires

A federal grand jury in Los Angeles is gathering evidence in a criminal investigation of Goodyear recreational vehicle tires.
19 hours ago
Following days of rain, floodwaters cover streets in the Planada community of Merced County, Calif....
Associated Press

Atmospheric rivers in California boost water allocation for cities

Public water agencies in California will be getting more water from the state because of recent heavy rain.
19 hours ago
(Brian Munoz/St. Louis Post-Dispatch via AP, File)...
Associated Press

FDA declines to regulate CBD; calls on Congress for fix

The Food and Drug Administration said Thursday there are too many unknowns about CBD products to regulate them as foods or supplements under the agency’s current structure and called on Congress to create new rules for the massive and growing market. The marijuana-derived products have become increasingly popular in lotions, tinctures and foods, while their […]
19 hours ago
FILE - An employee works in the battery assembly hall at the BMW Spartanburg plant in Greer, S.C., ...
Associated Press

US economy slowed but still grew at 2.9% rate last quarter

WASHINGTON (AP) — The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession. Thursday’s estimate from the Commerce Department showed that the nation’s gross domestic product — the broadest gauge of economic output — […]
19 hours ago
(AP Photo/Gregorio Borgia)...
Associated Press

Pope Francis discusses his health, critics and future of papacy

In his first interview since the death of retired Pope Benedict XVI, Francis tells The Associated Press he plans to continue for as long as he can as bishop of Rome
2 days ago
Eric Sham visits a makeshift memorial on Tuesday, January 24, 2023 for those killed in a mass shoot...
Associated Press

US Secret Service releases report on mass attacks

A new report on mass attacks calls for communities to intervene early when they see warning signs of violence.
2 days ago

Sponsored Articles

(Pexels Photo)...

Sports gambling can be fun for adults, but it’s a dangerous game for children

While adults may find that sports gambling is a way to enhance the experience with more than just fandom on the line, it can be a dangerous proposition if children get involved in the activity.
...
Day & Night Air Conditioning, Heating and Plumbing

Prep the plumbing in your home just in time for the holidays

With the holidays approaching, it's important to know when your home is in need of heating and plumbing updates before more guests start to come around.
...
Quantum Fiber

How high-speed fiber internet can improve everyday life

Quantum Fiber supplies unlimited data with speeds up to 940 mbps, enough to share 4K videos with coworkers 20 times faster than a cable.
What Obama’s health care law does