Final answer:
Under the ACA, young adults can stay on their parents' insurance until age 26. This measure contributed to more than 3 million gaining health coverage, with the overall goal of the ACA being to provide insurance to approximately 32 million uninsured Americans. The law also includes protections for individuals with preexisting conditions and funding through various means, including individual mandates.
Step-by-step explanation:
The ACA, also known as Obamacare, allows young adults to stay on their parents' insurance until they are 26, which has significantly increased the number of insured individuals. As a result of the Affordable Care Act, 3.1 million young adults gained health coverage. This expansion is part of a broader aim to provide health insurance for around 32 million uninsured Americans. By expanding Medicaid eligibility and subsidizing lower premiums, the ACA aims to include millions of the poorest Americans, including those who earn no more than 133 percent of the federal poverty level.
Additionally, the law has prohibited insurance companies from rejecting people with preexisting medical conditions and has removed annual and lifetime limits on payments. Other funding for the ACA has come from imposing the individual mandate, requiring all individuals to purchase insurance, which has led to an increase in insured young adults who might otherwise forgo insurance. Despite changes over the years, including the elimination of the penalty for not having insurance, coverage under the ACA has continued to increase.