Briefly describe the 6 main provisions of the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
1. Individual mandate requires that every resident of the United States have health insurance or be subject to a fine.
2. State health insurance marketplaces which offer health insurance policies are required to be established in every state.
3. Employers are mandated to offer health insurance to employees, or in some cases, pay a fee to the federal government for every employee who receives a tax credit for obtaining insurance through a health exchange.
4. Insurance companies are required to participate in a high-risk pool and must provide health coverage for dependant children up to age 26. Also, lifetime dollar maximums are prohibited and limits are placed on deductibles and waiting periods for coverage to take effect.
5. Some Medicare reimbursements will be reduced.
6. New taxes have been and will be phased in to help fund the program.
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In the real world, most economic systems are:
a. market economies. b. command economies c. mixed economies. d. traditional economies.
In the real world, policy makers apply the money multiplier to reserves to predict the amount of money in the economy.
Answer the following statement true (T) or false (F)