Final answer:
The ACA, also known as Obamacare, encompasses various provisions including coverage for the uninsured and those with preexisting conditions, as well as individual and employer mandates. It is funded by increased taxes and fees, and despite facing legal and political challenges, significant parts of the ACA have been upheld by the Supreme Court.
Step-by-step explanation:
The Patient Protection and Affordable Care Act (ACA or Obamacare) is a comprehensive healthcare reform signed into law by President Barack Obama in March 2010. The ACA has several key components such as coverage for the uninsured, coverage for individuals with preexisting conditions, and employer and individual mandates, which require that employers offer insurance and individuals purchase insurance. Funding for the ACA includes an increase in the Medicare tax, a tax on unearned income for high-income taxpayers, an annual fee on health insurance providers, and taxes on manufacturers and importers of certain medical devices.
The ACA has significantly altered the healthcare landscape in the United States and has been subject to judicial challenges, such as the Supreme Court decisions in Burwell v. Hobby Lobby and King v. Burwell. Despite these challenges, key provisions of the ACA, like the individual mandate, have been upheld by the Supreme Court. Moreover, the ACA has been under political scrutiny, with various politicians seeking to repeal or modify it.