Providing free healthcare for U.S. citizens would put an end to medical bankruptcies, improve public health, and decrease overall health care spending. In a 2007 Harvard study, it was approximated that medical expenses account for 62% of bankruptcies in the United States (New Study Finds 45,000 Deaths Annually Linked to Lack of Health Coverage). The sheer truth about these bankruptcies is that the individuals paying off the medical loans are actually under health insurance. Regardless of the price reduction health insurance can provide the overall cost for these loans are still outrageous, and unmanageable for most Americans to pay off without declaring bankruptcy. Anyone is prone to being diagnosed with a life-threatening illness, or getting into a severe accident requiring medical attention at any given moment.
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.
These groups claim that there are problems with Obamacare that will not only affect them but the whole healthcare industry as a whole. On the other hand there are many flaws with our healthcare system that already exist which limit healthcare to only some groups. The Affordable Care Act’s main goal is to ultimately increase the affordability of health care for all consumers. It promises to increase Medicaid coverage and quality for those families and individuals that have an income level up to 150 percent of the poverty line. That would equate to a family of four which makes less than $35,325 per year would receive Medicaid from the government (Families USA).
The Healthcare reform law is a reasonable solution for people who cannot afford or do not have private health insurance. This is what the Healthcare reform law is going to provide for people in the United States. The Affordable Care Act provides for Homeless and people who before could not get health insurance due to pre-existing illnesses, so they are finally getting the coverage they deserve at reasonable prices. Healthcare reform has been a big issue in the United States since the 1980's. The cost of healthcare within the United States has risen drastically from 1965 to 2005 (Gale 195-197), leaving many Americans uninsured or underinsured for healthcare insurance.
"Road To Recovery." Road To Recovery. American Cancer Society, 1 Aug. 2012. Web. 20 Oct. 2013.