Personal Finance (8th Edition) (What's New in Finance)
8th Edition
ISBN: 9780134730363
Author: Arthur J. Keown
Publisher: PEARSON
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Question
Chapter 9, Problem 1PA
Summary Introduction
To explain:
The major provisions of the affordable care act.
Introduction:
Patient protection and affordable care act refers to the act regarding health reform which was formulated in 2010 with the objective off covering all people with no medical or health insurance who are having income up to 133% of federal poverty level. It is there to reform the private insurance market especially for individuals and small groups.
Expert Solution & Answer
Explanation of Solution
The major provisions of the act are,
- Wide coverage
- Increased quality of health care
- None discrimination
- Low cost of health insurance
- The act includes the wide coverage of people (almost 35 million) to provide health insurance benefits.
- The act is made to increase the quality of health care so that the people covered under the act can get the most benefit from the health insurance.
- The act is made for all people in the United States and there is no discrimination in the insurance facilities provided to them.
- As the act is made especially for all individuals and small groups purchasers who do not have any health insurance and who have salary up to 133% of federal poverty level, the cost of health insurance in the act has been provided as low as it could be possible.
Conclusion
Thus, the four major provisions of the act are wide coverage, increased quality of health care, no discrimination and low cost of the insurance.
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Chapter 9 Solutions
Personal Finance (8th Edition) (What's New in Finance)
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