President Obama signed into law the Affordable Care Act on March 23, 2010, creating comprehensive reforms that improve access to affordable health care and protect consumers from insurance company abuse.
There are rights and consumer protections for millions of Americans who have health insurance through work or through a program like Medicare. By making sure consumers and their doctors control health care, the law protects consumers.
You could be taken advantage of by insurance companies in the past. In the case of an accidental mistake in your paperwork, the insurance company may deny coverage to a child with asthma or a heart defect, cap the amount of care they will pay for, or cancel your coverage when you get sick. ACA provides a Patient's Bill of Rights which protects you from such abuses.
As a result of the law, your health care costs will be lower and your health care dollars will be spent more wisely. Now, insurance companies must hold their customers accountable for their premium spending and rate increases. Additionally, insurers will be forced to compete for your business through tax credits and marketplaces.
As a result of the health care law, we have a health care system that works. By providing more health insurance options and improving access to health care, it fixes what's broken.
Each year, Medicare serves nearly 50 million older Americans and Americans with disabilities, and the health care law makes Medicare stronger by adding benefits, fighting fraud, and improving care. By reducing waste, fraud, and abuse, as well as slowing the rate of cost growth, Medicare's projected life has been extended by 13 years to 2030.
