When Does Affordable Healthcare Act become Effective?

When Does Affordable Healthcare Act become Effective?

The Affordable Healthcare Act, formerly known as the Patient Protection and Affordable Care Act (PPACA) and recently known as Obamacare, is a federal law that was signed by President Obama in March 2010.

The healthcare act's purpose is to provide affordable healthcare to individuals who do not have adequate medical insurance and to increase the costs of health care overall. As part of the Affordable Healthcare Act, changes have been made and are continuing to be made, including requiring that insurance companies offer the same rates to all of their applicants, despite their gender or pre-existing conditions.

Key Implementation Dates – The following is a list of the important provisions that have become effective along with those that will be effective in the coming months and years under the Affordable Healthcare Act.

Effective:

* June 2010 – Early retirees, between the ages of 55 and 65, became eligible for expanded medical insurance benefits.
* September 2010 - Free preventative care, such as mammograms and colonoscopies.
* January 2011 – In order to bring down health care premiums, the law put into effect that insurance companies must spend 85% of premium dollars on improving health care services.
* January 2011 – The Affordable Healthcare Act is improving the health care quality and efficiency to reduce the rate of Medicare and Medicaid.
* January 2012 – Providing incentives for medical professionals to join Accountable Care Organizations in order to encourage integrated health care systems.

To Become Effective:

* October 2013 – Provide new funding for the Children's Health Insurance Program (CHIP).
* January 2014 – Remove annual limits on group insurance coverage plans.
* January 2014 – Prohibit insurance companies from discriminating members based on gender and pre-existing conditions.
* January 2014 - Affordable Insurance Exchanges become available.

The Affordable Healthcare Act has many upcoming changes, aside from the ones that have already become effective. Its main focus is to offer healthcare to those without insurance as well as individuals who are not able to afford the healthcare they need.