In July of 2009 the Speaker of the House Nancy Pelosi and a group of Democrats from the House of Representatives revealed their plan to overhaul the current health care system to create a new health care plan, which was the Affordable Care Act (also known as Obama Care). The Affordable Care Act was signed into law by President Obama on March 23, 2010 and it allowed for healthcare to be more accessible and affordable for Americans.
The ACA created the Accountable Care Organizations which improve the quality of care for Medicare beneficiaries and reduce unnecessary costs.
The purpose of the Affordable Care Act is to make health insurance more affordable for those with little to no health care coverage.
The significance of the Affordable Care Act is that it helps millions of people in the United States to be able to have access and be able to afford health care because before the ACA only 5% of people bought health care and some people only had health care due to their job, but even then the coverage they got wasn't the best.
The healthcare system costs around $2.6 trillion in 2012 and is expected to rise to $4.8 trillion by 2021.