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The Patient Protection and Affordable Care Act, commonly referred to as Obamacare, was signed into law on March 23, 2010 and represents one of the largest overhauls of the U.S. healthcare system since the creation of Medicare and Medicaid in the 1960s. The law’s purpose is to increase the availability, quality and affordability of health insurance, and will use mandates, subsidies and exchanges to help reduce costs to patients and the government.