What is Affordable Care Act (ACA)?
The Affordable Care Act (ACA) refers to The Patient Protection and Affordable Care Act passed by the 111th Congress and signed into law by President Barack Obama in March 2010. Commonly known as Obamacare, ACA was designed to extend healthcare coverage to a larger number of Americans. The new regulations, fines, and penalties brought about by the ACA have reshaped benefits administration, complicating the process of administering medical benefits. HR professionals must enlighten their employees on the impact of ACA on their benefit options during the open enrollment, enabling them to make informed decisions based on their health and financial needs.