The Affordable Care Act (ACA), formally known as the Patient Protection and Affordable Care Act, and colloquially known as Obamacare, is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010.

What health insurance did Obama have?

The Affordable Care Act, which is also referred to as ACA or Obamacare, was signed into law by President Barack Obama in 2010. The act was a major overhaul of the U.S. healthcare system, reducing the amount of uncompensated care the average family pays for.

When did having health insurance become a law?

The Affordable Care Act (ACA), signed into law in 2010, was designed to make health insurance coverage more affordable for Americans through the creation of tax subsidies, while also opening up Medicaid eligibility to more low-income individuals and families.

Is the health care bill signed into law?

Despite the president’s signature, the legislative work on the bill is not over, nor is the partisan tussle over it.

When was the Affordable Health Care Act created?

This plan was presented as a new health care bill which was signed the law by President Obama in 2010. The law is officially titled the Patient Protection and Affordable Care Act 2010 and is sometimes called “ObamaCare” or the Affordable Care Act for short.

What was the cost of Obamas health care plan?

It cost $894 billion over 10 years. That’s $40 billion more than the Senate’s subsequent bill and just below President Barack Obama’s original target of $900 billion. It reduced the deficit by $104 billion and saved $460 billion over 10 years by levying a surtax on high-income earners.

What happens if you dont have health care plan under Obamacare?

If you don’t have a health care plan you’ll most likely need to obtain some type of coverage and maintain it throughout the year, get an exemption , or pay a per month fee on your taxes. This fee is part of ObamaCare’s Individual Mandate.