What Does Obamacare Mean? 
What does Obamacare mean ? Are you sure you want to ruin your day ? Sorry ... Just a little joke there . Obamacare is the new `` Affordable Care Act , '' that was designed to lower healthcare costs and health insurance rates . You were supposed to be able to keep your existing policy and save thousands of dollars per year in premiums . That 's what it was supposed to be . It is n't . So what is it ? In 2014 we 'll get a better idea of the effectiveness of the legislation . Americans will have to buy health insurance or pay a tax . Federal tax subsidies will help many consumers pay lower premiums . But many others will face skyrocketing prices . It should be very interesting . 