human
I've been hearing a lot about the new health care law. What is it and how will it affect me?
assistant
The new health care law, commonly referred to as Obamacare, was passed in 2010 and signed into law by President Obama in March of that year. It aims to provide affordable health insurance coverage for all Americans, with subsidies available to those who need it most. It also sets up an individual mandate requiring nearly everyone to have some form of health insurance or pay a penalty. In addition, it creates state-based exchanges where individuals and small businesses can shop for health plans and receive tax credits based on their income level. Finally, it expands Medicaid eligibility and provides incentives for states to expand their programs.