The Patient Protection and Affordable Care Act, commonly known as the Affordable Care Act (ACA), is a law that puts in place comprehensive health insurance reforms that will be implemented in stages over a multi-year period. The purpose of the law is to provide quality, affordable health care for all Americans. It will allow individuals, families, and small businesses to choose insurance coverage in an open, competitive insurance market. The Act also requires insurance companies to provide more coverage, reduce costs, and provide healthcare to those individuals previously disqualified.
2010: A new Patient's Bill of Rights goes into effect. Cost-free preventative services begin for many Americans.
2011: People with Medicare can get key preventive services for free and receive a 50% discount on brand name drugs that fall in the Medicare Part D coverage gap (Donut Hole).
2013: Open enrollment in the Health Insurance Marketplace begins on October 1st.
2014: Insurance plans are prohibited from discriminating due to pre-existing conditions or gender, annual limits on insurance coverage are eliminated , tax credits for middle and lower income people go into effect, Medicaid will be available to a larger population.
2015: Physicians will be paid based on quality of care rather than the number of patients that are treated.