What is the significance of the Affordable Care Act?

The Affordable Care Act (ACA), enacted in 2010, is significant primarily because it aims to expand healthcare coverage and reduce costs by implementing various reforms within the healthcare system. The ACA introduced measures such as the creation of health insurance exchanges where individuals can compare and purchase insurance plans, the expansion of Medicaid eligibility for low-income individuals, and the introduction of subsidies to help families afford coverage. Additionally, it established protections for those with pre-existing conditions, ensuring that they could access insurance without being charged higher premiums.

These provisions collectively aimed to decrease the number of uninsured Americans and ultimately improve health outcomes by increasing access to necessary medical care. This reflects a fundamental shift in U.S. healthcare policy towards greater federal involvement in ensuring that citizens have access to affordable healthcare services.

The other options do not pertain to the Affordable Care Act: Social Security is a separate program focused on retirement and disability benefits, the Federal Reserve System is related to monetary policy and banking, and military service mandates do not relate to healthcare policy.