Final answer:
Federal regulations like Medicaid, administered by CMS, were designed to provide health insurance to low-income Americans and are supported by both federal and state governments. The ACA introduced measures to manage healthcare costs, such as limiting administrative spending and mandating EMR usage.
Step-by-step explanation:
Medicaid regulations are federal regulations passed by Congress and administered by the Center for Medicaid Services (CMS). Medicaid was created as part of Lyndon Johnson's Great Society in 1965 and serves as a critical health insurance program for low-income Americans, including families with children, the elderly, and the disabled.
It represents a partnership between the federal government and the states, in which the federal government provides funding while each state administers the program, customizes benefits, and determines eligibility criteria.
The Affordable Care Act (ACA), introduced various regulations to manage healthcare costs, including a cap on administrative expenditures and a mandate for healthcare providers to adopt electronic medical records (EMRs). These regulations help in reducing administrative burdens and costs, thereby contributing to the efficiency and affordability of healthcare.