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An informal term for the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010. The two bills changed how health insurance functions in the United States. Among other provisions, Obamacare expanded eligibility of Medicaid and required most Americans to purchase health insurance. It also set up exchanges in the several states so insurers could compete with each other to provide the most cost effectiveness for consumers. It provided subsidies for health insurance premiums. Proponents argue Obamacare makes health insurance more affordable, while critics contend it is too expensive and constitutes excessive government interference in the U.S. economy. The legislation is named for U.S. President Barack Obama, who promoted it.
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