What is the Affordable Care Act (ACA)?

The Affordable Care Act (ACA) is fundamentally a healthcare reform law designed with multiple objectives that aim to enhance the overall healthcare system in the United States. Its primary goals include improving the quality of healthcare, broadening access to health insurance, and lowering the costs of healthcare for individuals and families.

The ACA introduced measures such as the establishment of health insurance marketplaces where individuals can compare plans and purchase coverage with the assistance of federal subsidies based on their income. This expansion of access was crucial in helping millions of previously uninsured Americans gain health coverage. Additionally, it implemented various reforms intended to promote preventive care, limit out-of-pocket expenses, and standardize the benefits required in health plans, all contributing to improved healthcare quality.

While other options touch on relevant aspects of healthcare and insurance, they do not encompass the comprehensive and multifaceted purpose of the ACA as effectively as the correct answer. For instance, reducing the number of hospitals or creating regulations specifically for insurance companies does not capture the essence of the law, nor does focusing solely on subsidies for low-income individuals reflect the broader objectives of quality and cost control as articulated in the ACA.