The Affordable Care Act (ACA) was passed by the US Congress and signed into law by President Obama on March 23, 2010. The law will provide more than $1 trillion in subsidies to help individuals purchase insurance coverage. It also provides tax credits for employers who offer health insurance to their employees. The law also aims to reduce the number of uninsured Americans by expanding Medicaid and subsidizing private insurance plans.

The law’s goal is to make health care more affordable and accessible for all Americans. However, it has been criticized by some for its lack of detail and unclear implementation process. Critics say that the law’s lack of detail and the fact that it will be implemented over several years could lead to higher premiums for consumers and less competition among insurers. They also claim that it does not address the problem of rising costs and inadequate access to health care.

There are two main components of the ACA:

* A health insurance exchange

* A new entitlement program called Medicaid expansion

The exchanges are websites where consumers can compare health insurance plans offered by different insurance companies. They will also be able to determine whether they qualify for financial assistance under the law. The exchanges will be run by the federal government, but states will be given a certain amount of flexibility to design their own exchanges. The exchanges are supposed to be up and running by the beginning of 2014.

The Medicaid expansion will allow states to expand eligibility for Medicaid to people with incomes up to 138 percent of the poverty level. In addition, the federal government will pay all the costs of covering those people through 2016.

The ACA will also establish an independent panel called the Advisory Commission on Consumer Protection and Quality in Health Care. The commission will review the law and make recommendations to improve it. The commission will also be responsible for studying how to improve the delivery of health care and improving health care quality.

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