finance
But despite the large amount of money spent on health care , the quality of care was inferior and millions of Americans lacked health insurance coverage or were underinsured .
To expand coverage , President Obama introduced drastic healthcare reforms in March 2010 . The Patient Protection and Affordable Care Act required that all individuals have health insurance come 2014 and that those with low and middle incomes who do not have access to affordable coverage through their jobs will be able to buy coverage with federal subsidies .
The reform was aimed at offering coverage to the 32 million uninsured
The reform is aimed at offering coverage to the 32 million uninsured Americans , CLICK HERE to see how the health care law benefits you
‘ The health and medical insurance industry is integral to the United States economy , with health expenditures accounting for approximately 18 percent of the country ’ s annual gross domestic product ’
Americans , expanding coverage for customers with pre-existing health conditions and a check on health insurers . Significant provisions of the legislation mandated coverage requirements , greater investment in health IT , rebates to policyholders based on minimum benefit ratios , and reduction in federal assistance on Medicare Advantage .
The reform had a rough start , with opponents challenging its individual mandate and Medicaid expansion clause and taking it to court . Insurers lobbied against the provisions but the law survived the challenges with
16 S eptember 2014