Question

How has the ACA affected group medical expense insurance?

Answer 1

Starting in 2014, the Affordable Care Act transformed the market for individual health insurance by changing how insurance is sold and by subsidizing coverage for millions of new purchasers . This act also put effects on group medical expense insurance because we know that Group health insurance plans are purchased by companies and organizations, and then offered to its members or employees. Plans can only be purchased by groups, which means individuals cannot purchase coverage through these plans .

Not everyone is covered by a group health insurance plan. For many decades, these uninsured people were forced to bear the cost of healthcare on their own. But that has changed.

Government-sponsored health plans continue to provide care to those left out of employer-sponsored group health insurance plans. As national health expenditures have climbed past 15% of gross domestic product (GDP), the Affordable Care Act (ACA) of 2010 substituted a nationwide mandate that each taxpayer join a group plan for the sort of single-payer solution that has faced stiff opposition since the 1930s. According to government data, roughly 20 million Americans are taking advantage of health insurance under the ACA, according to the most recent set of numbers from 2018.