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The Economists' Voice 2.0The Financial Crisis, Health Care Reform, and More$
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Joseph Stiglitz and Aaron Edlin

Print publication date: 2014

Print ISBN-13: 9780231160155

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231160155.001.0001

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The Health Care Reform Legislation

The Health Care Reform Legislation

An Overview

(p.3) Chapter 1 The Health Care Reform Legislation
The Economists' Voice 2.0

Chapin White

Columbia University Press

This chapter provides non-specialists with a guide to the major provisions of the Affordable Care Act (ACA), their logic, and the federal budgetary implications. The ACA represents the most significant overhaul of the US health care system since the establishment of Medicare and Medicaid. The ACA does two things: First, it fundamentally shifts the social contract in the United States. Starting in 2014, individuals will be required to have health insurance; in return, the federal government will significantly expand low-income health insurance subsidies. Second, it significantly rebalances the financing for Medicare by reducing the growth in outlays and increasing Medicare taxes paid by high earners.

Keywords:   Affordable Care Act, ACA, health care policy, health care reform, Medicare, Medicaid, health care system, health insurance

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