The Patient Protection and Affordable Care Act (PPACA), commonly called Obamacare, is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010. The law's goals are to increase the quality and affordability of health insurance, lower the uninsured rate by expanding public and private insurance coverage, and reduce the costs of healthcare for individuals and the government.
The law requires all Americans to have health insurance, either through their employer, a government program, or the individual marketplace. The law also provides subsidies to help low- and middle-income Americans pay for their premiums, and it expands the Medicaid program to cover more low-income Americans. The law also requires insurers to cover all Americans, regardless of their health status or pre-existing conditions.
The cost of Obamacare will vary depending on your income and family size. For most people, the cost will be around $100 per month. However, if you are low-income or have a large family, you may be eligible for subsidies that will lower your monthly cost.
