2024 ACA The Affordable Care Act Complete Questions & Answers (Solved) 100% Correct
- What is the primary goal of the ACA?
Answer: To increase access to affordable health insurance for the millions of Americans without coverage and make health insurance more affordable for those already covered.
- List some of the provisions of the ACA
Answer:
Restructures the private health insurance market.Sets minimum standards for health coverage.Creates a mandate for most U.S. residents to obtain health insurance coverage.Provides for the establishment by 2014 of state-based insurance marketplaces (previously called exchanges) for the purchase of private health insurance.
- How do families and individuals reduce the cost of purchasing coverage through the
insurance marketplaces?
Answer: Federal subsidies
- Other provisions of the ACA
Answer:
Expands eligibility for Medicaid.Amends the Medicare program in ways that are intended to reduce the growth in Medicare spending.Imposes an excise tax on insurance plans found to have high premiums.Makes numerous other changes to the tax code, Medicare, Medicaid, the States Children's Health Insurance Program (CHIP) and other federal programs.
- How is the ACA projected to have a significant impact on federal spending and revenues?
Answer:
Spending to subsidize the purchase of health insurance coverage through the state health insurance marketplaces.Increased outlays for the expansion of the Medicaid program.Numerous mandatory appropriations to fund temporary programs to increase access and funding for targeted groups.Provide funding to states to plan and establish health insurance marketplaces.Support many other research and demonstration programs and activities.
- What are the costs of spending public and health insurance coverage and other spending's
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offset by?Answer: Revenues from new taxes and fees, and by savings from payment and health care delivery system reforms designed to reduce spending on Medicare and other federal health care programs.
- ACA'S temporary programs to increase access and funding for targeted groups
Answer:
1.Temporary high-risk pools for uninsured individuals with preexisting conditions.
2.A reinsurance program to reimburse employers for a portion of the health insurance claims costs for their 55-64 year old retirees.
3.Small business tax credits for firms with fewer than 25 full-time equivalents (FTEs) and average wages below $50,000 that choose to offer health insurance.*Prior to 2014, states may choose voluntarily to expand their Medicaid programs.
- Examples of expanding their Medicaid programs
Answer: Extending dependent coverage to children under age 26.
Not allowing children under age 19 to be denied insurance and benefits based on preexisting health conditions.
- Rules for major medical plans prior to 2014
Answer:
Can no longer impose any lifetime dollar limits on essential benefits.Plans may only restrict annual dollar limits on essential benefits to defined amounts (such annual limits will be prohibited altogether beginning in 2014).Plans must cover preventative care with no cost-sharing, and they cannot rescind coverage,except in cases of fraud.Must establish an appeals process for coverage and claims.Insurers must also limit the ratio of premiums spent on administrative costs com- pared to medical costs, referred to as medical loss ratios, or MLRs.
- When did major expansion and reform provisions in ACA take effect?
Answer: 2014
*States are expected to establish health insurance marketplaces that provide access to private health insurance plans with standardized benefit and cost-sharing packages for eligible individuals and small employers
- What happened in 2017 when it comes to coverage expansions and market reforms?
Answer:
*States may allow larger employers to purchase health insurance through the marketplaces, but are not required to do so.*HHS will establish marketplaces in states that do not create their own approved marketplace.*Premium credits and cost-sharing subsidies will be available to individuals who enroll in marketplace plans(income must be at or above above 100% and not exceed 400% at the Federal Poverty Level
- What happened to coverage expansions beginning in 2014?
Answer:
*Most individuals will be required to have insurance or pay a penalty *Certain employees with more than 50 employees who do not offer health insurance may be
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