Obamacare's Individual Mandate Repeal

Definition

This refers to the removal of a provision in the Affordable Care Act (Obamacare) that required all individuals to have health insurance or pay a penalty. The repeal took effect in 2019.

Analogy

Think of it like a school dress code. Before, everyone had to wear uniforms (have health insurance) or face detention (pay a penalty). Now, the uniform rule has been repealed and students can wear what they want without punishment.

Related terms

Affordable Care Act: A comprehensive healthcare reform law enacted in March 2010 during the Obama administration. It was designed to make affordable health insurance available to more people.

Health Insurance Marketplace: An online shopping center set up by Obamacare where people can compare and buy health insurance plans.

Tax Penalty: A financial punishment imposed by the government for not complying with certain laws, such as not having health insurance under Obamacare before its individual mandate was repealed.