Final answer:
The Health Maintenance Organization Act of 1973 and the Patient Protection and Affordable Care Act (Obamacare) are different laws. Obamacare, enacted in 2010, expanded access to affordable health insurance, included the individual mandate, and introduced reforms to reduce healthcare costs, which significantly decreased the uninsured rate in the U.S.
Step-by-step explanation:
The Health Maintenance Organization Act of 1973 vs. The Patient Protection and Affordable Care Act (Obamacare)
There seems to be some confusion in the question as the Health Maintenance Organization Act (HMO Act) of 1973 is different from the Patient Protection and Affordable Care Act (PPACA), commonly known as Obamacare, which was signed into law in 2010. The HMO Act of 1973 established regulations for Health Maintenance Organizations to provide access to healthcare services for their members on a prepaid basis, whereas Obamacare aimed to provide all Americans with access to affordable health insurance, required everyone in the United States to have health insurance, and sought to lower the healthcare costs.
The Patient Protection and Affordable Care Act marks a significant overhaul of the U.S. healthcare system since the introduction of Medicaid and Medicare, representing a move towards universal coverage and the implementation of various reforms to the health insurance industry. Key features of Obamacare include the creation of insurance exchanges to facilitate the purchase of health insurance and the expansion of Medicaid, as well as various measures to control healthcare costs and subsidies to make insurance more affordable for low-income individuals.
In March of 2010, President Obama signed the PPACA into law, and its provisions have been phased in over several years. Some controversial aspects such as the individual mandate, which required citizens to purchase health insurance or pay a fine, were challenged but ultimately upheld by the Supreme Court under Congress's power to tax. Despite various challenges and opposition, the effects of the ACA led to a reduction in the uninsured rate in the U.S., from about 16% prior to its implementation to about 8.8% in 2016.