ACA (Affordable Care Act)

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What is the Affordable Care Act (ACA)?

 

The Affordable Care Act (ACA) is formally named the Patient Protection and Affordable Care Act. Oftentimes called “Obamacare,” it is a comprehensive healthcare reform plan passed by the 111th Congress. Signed into law by President Barack Obama in March of 2010, the Affordable Care Act includes healthcare policies to extend health insurance coverage to more Americans, especially those who are uninsured. 

 

What are some key takeaways from the Affordable Care Act (ACA)?

 

The Affordable Care Act had tremendous effects on benefits administration via new regulations, fines, and penalties. Though compliance issues may affect medical benefits administration, HR professionals must be vigilant in explaining an employee’s benefit choices during open enrollment. The objective is to help employees make informed decisions for their health and personal financial situation.

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