When the Patient Protection and Affordable Care Act Is Fully

question 49

Multiple Choice

When the Patient Protection and Affordable Care Act is fully implemented, it will

• A) substantially reduce the share of health care expenses paid by a third party.
• B) require individuals to pay an annual tax-penalty of up to $695 if they do not have an approved health insurance plan.
• C) require firms with fewer than 50 employees to provide health insurance for their workers.
• D) make it legal for individuals to purchase health insurance from an insurer in another state.

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Definitions:

Private Corporations

Businesses owned by non-governmental organizations or a relatively small number of shareholders or company members which do not offer or trade their company stock to the general public on the stock market.

Single Owner

Refers to a business structure where a single individual owns, manages, and is responsible for all aspects of the business, often known as sole proprietorship.

Legal Entity

An individual, company, or organization that has legal rights and obligations.

Satisfactory Income

The level of profit that meets or exceeds the expectations and needs of the business or its stakeholders.