While the ACA regulated an increase of the percent insured in the US and helped reduce the number of uninsured visiting hospital ERs, it provided little to no regulation tempering the costs/instances of doctor services, medical device/equipment usage, pharma pricing.
Insurance is a way of spreading out significant financial risk of a person or business entity to a large group of individuals or business entities in the occurrence of an unfortunate event that is predefined. For more details about this, go through this reference.
