The Affordable Care Act's Impacts on Businesses

619 Words2 Pages
bulb-icon

Recommended: Aspects of the Affordable Care Act

The Affordable Care Act (ACA) has changed the health care system in the United States. Beginning in 2014, all health insurance plans are required to guarantee coverage regardless of health status. In particular, the ACA has brought many changes to employers. Beginning in 2014, plans cannot set an annual dollar limit on benefit, limit coverage based on pre-existing conditions, nor limit the total dollar amount of benefits in an individual’s lifetime. Effective in 2015, employer plans also require a limit to the amount of cost-sharing such as co-pays and deductibles. All of these changes brought by the Affordable Care Act impact small and large businesses as well as several stakeholders such as the employers themselves, employees, hospitals...etc.
The Affordable Care Act impacts small businesses and large businesses differently. Before the ACA, smaller businesses were less likely to offer health insurance coverage to their employees than larger businesses. The aspects of the ACA that relate most directly to small businesses include the creation of new insurance exchanges, tax credit ...

Show More
Related

  • The Pros And Cons Of The Affordable Care Act?

    1459 Words  | 3 Pages

    Sever misinterpretation of the legislation distorted public opinion. Many people did not understand the impact that the ACA would have on employers and the coverage that they would be mandated to supply. Companies who employee greater than 50 employees are required to make coverage available and contribute to the cost or pay a fee; however, they qualify for the Small Business Health Options Program (SHOP) and are given tax breaks to help defray the cost (Reisman, 2015). Based on Reisman’s research, employers who have greater than 50 but fewer than 100 employees can obtain coverage for employees through state-based insurance exchanges and those who employee less than 25 full-time employees also qualify for tax breaks to help with costs. Another common misconception was that the ACA would afford illegal immigrants the opportunity to have healthcare. The ACA law excludes undocumented immigrants from these new coverage options and offers reduced benefits for those legally present (Shaffer, 2013). There are some parts of the Affordable Care Act that are hard to understand or conceptualize. One example understanding how the ACA will save health care dollars in the long run when it will significantly increase healthcare spending during

    Read More

  • The Pros And Cons Of The Affordable Care Act

    1303 Words  | 3 Pages

    The individual mandate and the Affordable Care Act, also known as “Obamacare”, is the idea that citizens should be required to have health insurance or otherwise pay a certain penalty. The Affordable Care Act essentially is the ability for all Americans to be able to afford health insurance. “One goal of the ACA, often referred to as the Affordable Care Act…is to bring down the costs of health care and make it available to more people.” (Will the Affordable Care Act improve health care in the United States?). The ACA was signed into law in March 2010 and currently ongoing. Although the Affordable Care Act does potentially have some positive effects to it, like bringing affordable health insurance to uninsured Americans; the Act does also have

    Read More

  • Affordable Care Act (ACA) Effect On the Uninsured

    888 Words  | 2 Pages

    The ability of the Affordable Care Act to mitigate the current pressure of the uninsured on our healthcare system is unknown. Yet, the prediction is that it will greatly reduce the effect on emergency room systems throughout the nation. This reduction will be greater in the south and southwest regions of the United States (The Henry J. Kaiser Family Foundation, 2013 p. 4). The potential is there, however, the willingness of the population is yet to be seen. What does the future hold? Only the future knows.

    Read More

  • Health Care Reform Implementation Of The State Of Ohio

    1037 Words  | 3 Pages

    The United States (U.S.) has a health care system that is much different than any other health care system in the world (Nies & McEwen, 2015). It is frequently recognized as one with most recent technological inventions, but at the same time is often criticized for being overly expensive (Nies & McEwen, 2015). In 2010, President Obama signed the Patient Protection and Affordable Care Act (ACA) (U. S. Department of Health & Human Services, n.d.) This plan was implemented in an attempt to make preventative care more affordable and accessible for all uninsured Americans (U.S. Department of Health & Human Services, n.d.). Under the law, the new Patient’s Bill of Rights gives consumers the power to be in charge of their health care choices. (U.S. Department of Health & Human Services, n.d.).

    Read More

  • ACA PAPER

    1454 Words  | 3 Pages

    The people of the United States have been suffering from a number of serious issues, all related to health care: millions go uninsured every year, health care is too expensive, and the quality of care is poor, especially for the price. The Patient Protection and Affordable Care Act, commonly referred to as the Affordable Care Act (ACA) or Obama Care, began addressing these issues. The ACA is a United States federal statute signed into law by President Barack Obama on March 23, 2010. The law was enacted with the goals of increasing the quality and affordability of health insurance, lowering the uninsured rate by expanding public and private insurance coverage, and reducing the costs of healthcare for individuals and the government. Although several of the act’s promises have not come into effect yet, it has managed to extend healthcare to the repetitively uninsured. While many of the accomplishments that the act has already made, and aims to make, are no small feat, there are still issues within the policies and procedures. For example, Obama Care boasts that it is a universal healthcare system. However, it is unlike any other in the world, and is technically forced on citizens in a variety of ways. It has been debated, that for that reason, the new law may come into violation of several human rights. Another significant issue with the ACA regards a cap on citizen’s out-of-pocket expenses, and the fact that the administration decided to delay making a definitive decision, potentially costing many American’s unprecedented medical fees.

    Read More

  • America Needs Affordable Health Insurance

    825 Words  | 2 Pages

    Most people rely on their employers to provide them with health insurance, but with many health care is not available through the employers. Many small businesses can simply not afford the high cost of health care, or it may be available, but the employee needs to pay the entire premiums.  A lot of employers are utilizing part time employees, the part time employees are usually not qualified for benefits, like health insurance. This is very unfortunate for these part timer’s not only because they will not get benefits such as health insurance, but also they probably have a slim chance of going full time because of the health insurance dilemma. Business owner’s need to assess what is good for them financially, and having plenty of part time employees who do not require insurance is probably the most cost effective method to keep the Business up and running.

    Read More

  • Health Disparities and Differences: An Analysis of U.S. Policy

    738 Words  | 2 Pages

    The ACA expanded Medicare/ Medicaid, strengthened employer based care, and included an individual mandate. Before the ACA there were 32 million people uninsured and “approximately half, or 16 million, will gain coverage through an expansion of Medicaid” (Barr, 2011, p. 292). To improve the cost of care the ACA required employers with more the 50 employees to offer plans and individuals would have to purchase plans from the government. “ACA does not address directly the issue of disparities in access of care based on a patient’s race or ethnicity, it does impose on providers the responsibility for collecting data on the race or ethnicity, primary language, disability status, and similar demographic characteristics of patients cared for” (Barr, 2011, p. 293). The ACA strives to give health coverage to all but the power still lies in the private sector.

    Read More

  • The Affordable Care Act

    1105 Words  | 3 Pages

    If the United States had unlimited funds, the appropriate response to such a high number of mentally ill Americans should naturally be to provide universal coverage that doesn’t discriminate between healthcare and mental healthcare. The United States doesn’t have unlimited funds to provide universal healthcare at this point, but the country does have the ability to stop coverage discrimination. A quarter of the 15.7 million Americans who received mental health care listed themselves as the main payer for the services, according to one survey that looked at those services from 2005 to 2009. 3 Separate research from the same agency found 45 percent of those not receiving mental health care listing cost as a barrier.3 President Obama and the advisors who helped construct The Affordable Care Act recognized the problem that confronts the mentally ill. Mental healthcare had to be more affordable and different measures had to be taken to help patients recover. Although The Affordable Care Act doesn’t provide mentally ill patients will universal coverage, the act has made substantial changes to the options available to them.

    Read More

  • Cancer Health Disparities

    986 Words  | 2 Pages

    The Affordable Care Act (ACA) is a federal that was signed into law by President Barack Obama on March 23, 2010 to systematically improve, reform, and structure the healthcare system. The ACA’s ultimate goal is to promote the health outcomes of an individual by reducing costs. Previously known as the Patient Protection and Affordable Care Act, the ACA was established in order to increase the superiority, accessibility, and affordability of health insurance. President Obama has indicated the ACA is fully paid for and by staying under the original $900 billion dollar budget; it will be able to provide around 94% of Americans with coverage. In addition, the ACA has implemented that implemented that insurance companies can no longer deny c...

    Read More

  • Employer-Sponsored Health Benefits

    1696 Words  | 4 Pages

    The steady rise of healthcare costs and the ever increasing cost of health insurance premiums are making it harder and harder for employers to pay healthcare premiums for their employees. In the past, it was almost a given that employers picked up the tab for health insurance coverage. The health coverage was usually exceptional with little or no money paid out of pocket by the individual for the insurance premiums. Those appear to be the “good old days”, with fewer and fewer employers shelling out money for health insurance premiums and demanding a larger percentage to be paid by the employee. Other employers are simply unable to financially provide healthcare coverage for their employees and have stopped all together.

    Read More

  • Persuasive Essay On Obamacare

    1205 Words  | 3 Pages

    The Affordable Care Act, more commonly known as Obamacare, is a new health policy created by the American federal government. Its purpose is to make healthcare more affordable and friendly for the people. Unfortunately in some way that does not prove to be the case. It is becoming apparent that Obama may have made some misleading statements to help get the ACA put into action. The ACA is sprinkled with many flaws that call for a reform such as people’s current plans being terminated, high costs, and at minimum some people’s hours being cut by their employers.

    Read More

  • The Failure of the Affordable Care Act

    1299 Words  | 3 Pages

    Universal healthcare is in place in almost every developed nation with the United States being the last to do so. But is the Affordable Care Act the solution for universal healthcare in the United States? In 2010 President Obama signed the Affordable Care Act into law. Parts of this law were enacted in 2012 and was to be fully implemented on January 1, 2013. Unfortunately many parts of the bill, such as the website to sign up applicants, has failed and many states have rejected the proposed changes in infrastructure that makes the bill possible. The main purpose of this reform is to expand Medicaid coverage, hold insurance companies accountable for rising costs, lower overall health care costs, guarantee more choice of physicians for patients, and give quality healthcare to all Americans (Troy 21). Throughout the enactment of this bill, only one of these promises has been upheld, the expansion of Medicaid. The Affordable Care Act needs to be repealed and replaced with a single-payer system because Obamacare created ‘death panels’ for aging and disabled Americans, has failed to allow many who wanted to keep their current health coverage to do so, many people’s previous physician is not covered under Obamacare, and ObamaCare is failing on Obama’s main promise, lowering the overall cost of healthcare while giving universal coverage.

    Read More

  • The Affordable Care Act Debate

    2130 Words  | 5 Pages

    The Affordable Care Act has been at the center of political debate within the United States for the since current President Barack Obama signed it into law in 2010. The act represents the most significant regulatory healthcare overhaul of the United States healthcare system since the passage of both Medicaid and Medicare collectively Initially, the ACA was enacted with the goals of increasing the availability of affordable health insurance, lowering the uninsured rate by expanding public and private insurance and reducing cost of healthcare for individuals and the government (Robert, 2012). Proponents of the act’s passage have articulated that the ACA provides service for free, such as preventative health coverage for those registered, it requires that insurance companies can no longer deny person’s or children with pre-existing conditions and will close the Medicare “Donut Hole” for prescription drugs. While the Act has the potential to provide better quality of healthcare for the American populace, opponents argue that the ACA is flawed and could create a quagmire of cost and confusion with its implementation. Arguments against it hold the belief that it would force employers with religious affiliation to provide services to employees through their health plans that directly contradict their values. As a result of cost, companies may void out of their employer health insurance and pay a penalty as opposed to pay for employee insurance. Lastly, the act is said to focus more on registration the actually addressing cost of healthcare. While these issues are pertinent, the overall accessibility to healthcare created by the ACA and outweighs the negating arguments.

    Read More

  • Argumentative Essay On The Affordable Care Act

    823 Words  | 2 Pages

    The main advantage of the Affordable Care Act is that it lowers health care costs overall by making insurance affordable for more people. First, it wi...

    Read More

  • Iron Triangle Of Health Care Essay

    728 Words  | 2 Pages

    Therefore, the Affordable Care Act increased access to healthcare. The group that benefited the most was the individuals with pre-existing conditions. Prior to Affordable Care Act, insurance companies had the right to deny the application of those with pre-existing condition like asthma and diabetes. However, with the ACA, insurance companies cannot deny their application and they can’t increase their premium. Another group that had advantages of this new act are the poor people. People who are up to 138% of poverty level or the individuals that make less than $15,854 a year will be eligible for

    Read More

More about The Affordable Care Act's Impacts on Businesses

Open Document