5
QuizMultiple Choice

Government Regulation of Insurance

Question 5 • (AG Q4) Financial Literacy: 25-26 (JRush)

To residents of the US, the single most important benefit to the Affordable Care Act is _____.

Answer
A
states do not have to expand their Medicaid coverage if they choose not to
B
the level of income for the Medicaid program is adjusted
C
the Supreme Court ruled that the federal government could mandate insurance coverage
D
patients do not have to fear losing insurance because of a medical condition.

Explanation

The Affordable Care Act prohibits insurers from denying coverage or charging more because a person has a preexisting medical condition. This protects people from losing access to health insurance due to their health history, making “patients do not have to fear losing insurance because of a medical condition” the best answer. The Supreme Court did not uphold a federal mandate to buy insurance as stated in choice C; it treated the payment as a tax.

AI-written and checked against the verified answer.