The Patient Protection and Affordable Care Act (PPACA), signed into law by President Barack Obama on March 23, 2010, has set the stage for an historic overhaul of the U.S. healthcare system. The Health Care and Education Reconciliation Act of 2010 and the PPACA (collectively referred to as the Health Care Act) promise to provide healthcare insurance to an estimated 32 million Americans who currently lack coverage by:
- Expanding Medicaid;
- Creating incentives for employers to offer insurance to their employees;
- Mandating that all individuals carry insurance;
- Establishing insurance exchanges; and
- Subsidizing insurance for lower-income individuals through refundable tax credits.