Question

is the Affordable Care Act really lower the cost overall costs for health care coverage to the US patients..?

Answer 1

The Patient Protection and Affordable Care Act (PPACA) was enacted on 23rd March 2010. The primary aims of ACA (affordable care act) include establishing near-universal coverage and shared responsibility, improving the affordability and quality of healthcare insurance coverage, enhancing the quality and efficacy of healthcare services while minimising the wasteful spending, and to strengthen primary health-care access particularly to medically underserved populations.

The ACA allowed the insurance coverage to people with pre-existing conditions and created new protections for elderly and disabled people against coverage policies. Overall, efforts of ACA are directed to reframe the economic association between Americans and the health-care system, thereby to stem the health insurance crisis (Protection, P., & Act, A. C. (2010).

The ACA changed the healthcare payment systems in several ways to achieve a better alignment with the actual costs of care, for example, the altered “fee-for-service payment systems.” Health care costs were reduced sharply, and it is expected to be reduced by 11% (expected to be $2.6 trillion) from 2014 through 2019 than projected before the enactment of ACA. Refundable tax credit, i.e. Advance Premium Tax Credit system (APTC) is implemented to lower the monthly health insurance premium for eligible individuals. ACA particularly reduced the healthcare costs of elderly and disabled individuals.