ObamaCare What is ObamaCare and how will it affect the current healthcare system? What are the arguments for and against it? Based on my research, do you think this will be a benefits to Americans, or should it be repealed. The affordable care act changed the current healthcare system by putting consumers back in charge of their healthcare plans also under the new “Patient Bill Of Rights” by all that it gives us the people the flexibility to maintain being informed. Also the “ObamaCare” gives you the healthcare that benefits you the most.
Some would argue good, some would argue bad. The changes and effects on the businesses will be discussed in the following essay. First, let’s start off by talking about what Obamacare actually is. As stated previously the goal of Obamacare is to give more Americans quality health insurance, and to reduce the growth in health care spending in the United States. It comes with a number of new benefits, rights, and protections.
The problem here is the lack of technological innovation, which will be more user friendly and encourage more insurers to be satisfied and receive the services they sign up for. If the government doesn’t fix this issue quickly, it can decrease their market power, causing people to seek insurance elsewhere. “The insurers are in “an unenviable position,” said Brett Graham, although they don’t have the responsibility or the capability to fix the system, they’re reliant on it.” The website is the main channel for people to buy insurance under the 2010 health care law” (New York Times). Due to the new healthcare law the demand for health insurance has increased, which could cause more comp... ... middle of paper ... ...n public responds to this new law. Will privately insurers convert to Healthcare.gov?
Near the beginning of his term, President Barack Obama proposed a plan that would allow - or force - all Americans to have health insurance. His ideology is that every American should have federally provided healthcare. Even though he may not be proposing an entire absorption of the medical field into government policy, he is suggesting that the government could offer better health options than the current system. This is dangerous. Handouts offered by the government are usually taken and more are expected.
I will finally address the two most important presidential candidates and determine how their ideologies support or challenge this vie... ... middle of paper ... ...ording to the Congressional Budget Office (CBO), Obama Care’s effects on the cost of premiums will differ across insurance markets. The greatest savings will be seen in the no group market. The effects on premiums will be much smaller or even costly, however, for the small group and large group markets. But the big picture of it was if you have a low income under Obama Care, you will be able to either enroll in Medicaid or qualify for a subsidized insurance plan through your state’s healthcare exchange. So don’t panic yet if your state doesn’t run a health exchange; the federal government will be setting up health exchanges of their own that you may be able to use.
Taxes in relation to the new healthcare reform is a prominent topic when one examines the supporting and opposing sides of the law. New taxes on businesses producing medical equipment and new Medicare taxes on investments have been established. For individuals and businesses choosing not to participate in purchasing health insurance there will be a penalty called a "shared responsibility" tax. The accrued money from these taxes is being used, among other things, to provide low-cost insurance plans on the marketplace and to create subsidies for those purchasing the plans. Through these subsidies, "any individual making up to $45,960 or a family of four with household income up to $94,200 is eligible" ("Obamacare tax guide") to qualify and get assistance at the end of each year to off-set the cost of the insurance even more... ... middle of paper ... ...013.
Have more people pay for their own a larger portion of their medical care costs will contribute to controlling health care costs by making patient more knowledgeable about the price of their health care. There are also other options such as hospital mergers and flexible spending accounts, but these are not always successful. In some cases, cost sharing and shifting economic conditions may have been responsible for the success or failure of different strategies. For now though cost sharing can been seen as a viable option to decreasing the cost of health care in the United States, while still providing quality care to the patient.
The health care reform will greatly affect the medical technology industry in both positive and negative ways. Although the healthcare reform supports greater emphasis being placed on prevention and preserving wellness, which broaden the field for the development of medical technology industry, it also could have negative effects on research, profits, and investments as the medical device excise tax is authorized. The demand for products can be rises as coverage is expanded, but the demand also be reduce due to the price pressure put on the manufacture companies. Since the government has the healthcare field price-controlled, the innovations and access are possibly limited as the result. Some positive effects of the reform on the healthcare industry can be listed.
On the other hand, everyone can accept that the healthcare reform law will indeed benefit people with pre-existing illnesses such as diabetes. The law will help them get health insurance that before they would not have even been considered for, ... ... middle of paper ... ...insurance and people who cannot afford it; have much more evidence. There are many consequences for this healthcare reform law it may hurt states rights even more in the future, it may affect future jobs in the medical field, and it may be abused by people and not be able to help the people who need it most. The key reasons why the healthcare reform Alexander 5 law is not a reasonable solution because it limits states rights, leaves doctors with an uncertain future, and it allows people to abuse the system and use up other people's hard earned money. Works Cited Moffit, Robert E. "Health Care Reform Law Limits States from Making Health Care Decisions.