human
I've been hearing a lot about the new health care law. What is it and how will it affect me?
assistant
The Affordable Care Act (ACA) was signed into law in 2010 by President Obama. It aims to expand access to affordable health insurance for millions of Americans, while also providing financial assistance to those who qualify. It requires all U.S. citizens and legal residents to have health coverage or face a penalty, beginning in 2014. Additionally, it provides subsidies to help people with lower incomes afford their premiums. In general, it expands Medicaid eligibility, creates health insurance exchanges, and prohibits insurers from denying coverage based on pre-existing conditions.