One of the key provisions of the 2010 Patient Protection and Affordable Care Act Quizlet

The first part of the comprehensive health care reform law enacted on March 23, 2010.

The law was amended by the Health Care and Education Reconciliation Act on March 30, 2010. The name “

” is usually used to refer to the final, amended version of the law. (It’s sometimes known as “PPACA,” “ACA,” or “Obamacare.”)

The law provides numerous rights and protections that make health coverage more fair and easy to understand, along with subsidies (through “premium tax credits” and “cost-sharing reductions”) to make it more affordable.

The law also expands the Medicaid program to cover more people with low incomes.

Related content

• Read the Affordable Care Act
• Rights & protections
• Medicaid expansion

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The Patient Protection and Affordable Care Act, commonly referred to now as the Affordable Care Act (ACA), was signed into law on March 23, 2010.

The ACA consists of a combination of measures to control healthcare costs, and an expansion of coverage through public and private insurance which includes broader Medicaid eligibility and Medicare coverage, and subsidized, regulated private insurance.

The ACA was enacted with the goals of increasing the quality and affordability of health insurance, lowering the uninsured rate by expanding public and private insurance coverage, and reducing the costs of healthcare for individuals and the government. It is important to remember that the ACA does not mandate that employers provide health insurance to their employees.

The Act also established the Health Insurance Marketplace, which is a resource where individuals, families, and small businesses can learn about their health coverage options; compare health insurance plans based on costs, benefits, and other important features; choose a plan; and enroll in coverage.

High Deductible Health Plans are similar to other health insurance plans, however they contain restrictions pertaining to the individual and family deductibles, as well as annual out-of-pocket limits.

To qualify as high deductible health insurance, the annual deductible must meet a minimum dollar amount, and the maximum out-of-pocket expense may not exceed the maximum dollar amount identified by the IRS. Other than preventive care, which must be made available with no cost-sharing, all covered health care expenses are an out-of-pocket expense until the annual deductible has been satisfied. After that point, depending on plan design, an insured may have little or no out-of-pocket expense, or claims will be subject to coinsurance until the annual out-of-pocket limit is reached.

HDHPs also limit the contributions an individual may make to an HSA, MSA, HRA, or FSA.

HSAs are available to any employer or individual for an account beneficiary (the taxpayer, including spouse and dependents)—the individual on whose behalf the account is established—who has high deductible health insurance coverage. HSAs are funded with pretax income, grow tax-deferred, and may be used tax-free to pay for unreimbursed qualified medical expenses. Nonqualified withdrawals prior to age 65 are subject to a 20% penalty tax. After age 65, funds may be withdrawn and used for any purpose without a penalty, but if not used to pay for health care expenses, withdrawals will be subject to ordinary income tax. The penalty does not apply when the taxpayer is age 65 or older, or in the event of the account owner's death or disability. There are no income limitations imposed on establishing an HSA, but contributions may only be made in years in which the taxpayer purchases a High Deductible Health Plan (HDHP).

An eligible individual or an employer may establish an HSA with a qualified custodian or trustee (typically an insurance company or bank). Generally, account contributions may be made by the individual, the employer, or both. Contributions are deducted or excluded from the employee's income if made by the individual or the employer, respectively.

If funds remain in the account at the end of the calendar year, they may be rolled over for use in the following year without a penalty.

TRICARE is primarily for active duty and retired members of the U.S. military and their dependents.

There are three plans now available, depending on the member's service status, such as active duty, National Guard/Reserves, or retired. The plans are Standard, Prime, and TRICARE For Life. As long the person is on active duty, Prime coverage is mandatory with no out-of-pocket expenses for treatment at a military medical facility. Dependent coverage is not mandatory, but most active duty personnel select Prime coverage for their dependents.

-Standard requires no premiums on the member's part but does require a $12 co-pay for office visits and a 25% co-pay for procedures.
-Prime requires a premium, but has no out-of-pocket expenses for tests, operations, etc., as long as a primary care manager or a TRICARE approved referral is used. There is a $12 co-pay for office visits and an $11 per day charge for hospitalization.
-TRICARE for Life serves as a second insurer for those on Medicare, Parts A and B. Medicare will be the primary payor and TFL will be secondary. There are no enrollment fees but the member must pay his own Medicare Part B premiums.

What are the key provisions of the 2010 Patient Protection and Affordable Care Act?

What is the Patient Protection and Affordable Care Act of 2010 quizlet?

What are the key provisions of the Affordable Care Act of 2010 quizlet?

Which of the following is a provision of the Patient Protection and Affordable Care Act quizlet?