The facts of the Patient Protection and Affordable Care Act
Affordable Care Act (ACA), better known as Obamacare, is the president’s answer to the increasing healthcare costs. The purpose of this plan is to promise better quality healthcare at a more affordable cost to the Americans, and also regulate private insurance company to ensure Americans get more rights and protections on their healthcare. According to a 2012 study by The Kaiser Family Foundation (KFF), over 47 million non-elderly Americans were uninsured in 2012. Unsurprisingly, the majority of the uninsured are in the category of low-income working families. With the ...view middle of the document...
After 2015, large employers must insure full time employees or pay a per employee fee, which means it protect employee who doesn’t get any healthcare coverage from the employer. The advance premium tax credits and small business tax credits are tax breaks. Advance premium tax credits allow low to middle income Americans eligible for tax credits, which reduce the upfront cost of premiums on health insurance. Small business tax credits allow small business for tax credits up to 50% of their cost of employee premiums insurance.
Affordable care act take away the age restriction that many health plans and issuers could remove young adults from their parents’ insurance because of their age. Young adults can now stay on their parents’ insurance plan until they’re twenty-six years old. According to a report by Obamafacts.com, 82% of uninsured young adults will qualify for free or low cost insurance after the implementation of ACA. On the other side of views, the healthcare doesn’t come without cost. Delaying an individual plan for young adults will divert the cost to parents for a longer time. According to a recent study by Freedomworks.org, the lowest cost option for an average, healthy, non-smoker young adult will have to pay 265% more for health insurance in 2014 than 2013 nationally. Young American have already struggle into an increasingly tougher job market, majority of them have student loan need to be pay off. With that being said, younger generation will have a harder time paying for their health insurance.
The Affordable care introduce Health Insurance Marketplace (HIM), as mentioned earlier, it protects people from fraud of private insurance company. It introduces new law and protections that make healthcare fair and easier for public to understand. According to the announcement of National Health Information Center (NHIC), the new healthcare law require insurance companies to cover people with pre-existing health condition, and it also holds insurance companies accountable if the rate increases. Additionally, it is illegal for health insurance companies to cancel your coverage under any circumstances. Back in 2009, Barack H. Obama said "No matter how we reform health care, we will keep this promise: If you like your doctor, you will be able to keep your doctor. Period. If you like your healthcare plans, you will be able to keep your health care plan. Period. No one will take it away. No matter what, my view is that health care reform should be guided by a simple principle: fix what’s broken and build on what works.” And he is right; government should protect the public away from fraud and deception from those private insurance companies.
One of the most important aspects of healthcare is preventive care. It is a fact that many Americans do not realize the important value of preventive care. Obamacare provide free preventive services. Furthermore, it restricts private company to charge public...