The Act designated to develop transformation to contain costs within the healthcare sector. The Act also focused to ensure that 94% of the American citizens have health care insurance. Furthermore, the Act planned to offer tax relief for health professionals with state loans destined to ensuring increased availability of health care services to underserved regions as well as attracting and addressing the shortage of healthcare professionals.
The Patient Protection and Affordable Care Act planned to alienate discriminations in the health insurance sectors. The policy wanted to achieve the commendable goals of transforming healthcare insurance programs without raising the premiums to be paid by the individual employees yet ensuring coverage to all citizens. The act further defines clear grounds for prohibition of the recession in the insurance policies.
The Patient Protection and Affordable Act of 2010 shaped to encourage massive investment in new therapy technologies. The government under the Act allocated $ 1bilion for credit viewed to encourage healthcare personnel to invest in therapies that could help in the diagnosis, prevention, and treatment of degenerative diseases. The Act further intended to provide small business tax relief and credit to help in the purchase of health care insurance to the employees. The Act aimed at providing up to 35% immediate premiums to the small firms that planned to use government’s offer. In the policy, full credit was offered to firms that had more than ten employees who earn an average annual wage of $25000.
The provision also requires that all citizen of the US obtain health care insurance coverage. The provision established stringent directives to individuals without the coverage as they have to pay a tax penalty of $695 per year.