Obamacare is a national health care plan for reforming the health care system. Administered by the federal government, it is presented as an alternative to the private health insurance. The official name for Obamacare is The Patient Protection and Affordable Care Act.
Fact 1. Â Â Obamacare guarantees health care for all American citizens, including US legal residents and who are unable to get access to comparable level of service from other avenues such as employers.
Fact Â 2. Obamacare provides American employers with the choice of opting for Obamacare as a medical plan for their employees or to opt for a private medical insurance plan in ensuring all Americans are covered by a health scheme.
Fact 3. Â All Americans are required to have a health plan either by Obamacare or a private medical insurance plan.
Fact 4. Â Â President Obama signed Obamacare into law on March 23, 2010.
Fact 5. Â On June 28, 2102, the US Supreme Court upheld the constitutionality of Obamacare by a 5-4 vote. Prior to this, there was much opposition towards this law as it was deemed to exceed the limitations of the commerce clause.
Fact 6. Â Â The notion of a mandatory health insurance scheme has met with opposition as it penalises those who cannot afford to pay for insurance including young workers and small businesses.
Fact 7. The new law imposes penalties of 2.5% of income on those who do not purchase government-approved health insurance.
Fact 8. Â Beginning in 2014, Obamacare will impose the Health Insurance Tax (HIT) on the fully insured market. Most small businesses and private individuals will be impacted by this, as the cost of the HIT will be passed on to the consumers.
Fact 9. Obamacare regulates that restaurants with more than 20 locations must list calorie content for standard items. This will include items such as total calories, fat, saturated fat, cholesterol, sodium, total carbohydrates, sugars, fibres and total protein.
Fact 10. Â Obamacare is also intentioned to reduce health disparities between races by reducing the incident of chronic diseases amongst the minority populations.
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