In March 2010, President Obama signed into law the Patient Protection and Affordable Care Act (PPACA), the nation’s latest effort to reshape its health care industry. Under the new law, which critics often call “Obamacare,” most Americans will be fined if they lack medical coverage with minimum standards set by government regulators, and many employers will be fined if they do not provide that coverage to employees working at least 30 hours a week. Lower- and some middle income households and very small employers can receive federal subsidies to purchase coverage. Health insurers will be required to offer coverage to any eligible applicant regardless of medical condition and at capped premium prices. And in some states, income qualifications for Medicaid will be relaxed so that more households will receive benefits.

PPACA’s supporters claim the new law will improve Americans’ health while lowering medical prices and spending. Those are laudable goals. However, the legislation does little to solve most of the serious problems with the U.S. health care system, and it may worsen some of those problems. Despite PPACA’s noble intentions, the need for health care reform is as pressing today as it was when the legislation became law.