What would happen if the Affordable Care Act were repealed?

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During his campaign, President-elect Donald Trump promised to repeal the Affordable Care Act (ACA). Although he's since walked that statement back, plenty of Republicans—who control both the House and the Senate—have expressed a desire to repeal the ACA. But is that possible, and what would it mean?

According to CNN, the ACA has had many benefits and drawbacks. Among the most meaningful changes are that insurance companies can't charge more or turn people away for having preexisting conditions, they must cover preventive care, and—to make all that work—everyone must be covered. Health insurance works by having a large pool of healthy people who pay premiums but don't consume much health care, so insurance companies can afford to pay for care for the sick people who need it most. Without ...