The Impact Of Obama Care On The Economy Essay

The Impact Of Obama Care On The Economy Essay

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During Obamas tenure as president he came up with a plan calledOBAMA care which the official name is is Patient Protection and Affordable Care Act. The ACA act was signed into law to reform the health care industry by President Barack Obama on march 23, 2010 and upheld by the supreme court on june 28, 2012. This act was formed to give americans more access to affordable health insurance. It does this by offering consumers discounts known as tax credits)on government-sponsored health insurance plans, and by expanding the Medicaid assistance program to include more people who don 't have it in their budgets to pay for health care.

Next we will focus on the impact OBAMA care has had on the economy. The overall impact of OBAMA care has shown a positive impact on the economy, although there has been some downsides to it as well. First and foremost It doesn’t allow insurance companies to deny coverage or raise costs for pre-existing conditions. With this you remain on a plan that is cheap and affordable for the average American.It stops insurance companies from dropping you when you are sick. No longer can insurance companies drop you if you don 't have health care insurance and It expands free preventative services and health benefits. Also young adults can remain on their parents plan until age 26. That 's also one huge benefit is many young adults won 't have to worry about health insurance as they can remain on their parents plan until age 26. Another great benefit is It requires larger employers to insure their employees. So if you work at an employer with over 50 employees your employer must provide you with health insurance. Now that we know the benefits Obamacare has provided for the economy will now look at some statistics...

... middle of paper ... that regulations had to have been the cause and reasons for a lot of the problems and that it seem to be adding a lot more of these rules would only worsen the situation and prolong the chances of getting an outcome.

Companies such as Aetna Inc. (AET), Anthem Inc. (WLP), Cigna (CI), Humana Inc. (HUM) and United Health Inc. (UNH), are the top five biggest American health insurers in the United States and it has also outperformed the S&P 500 index in the course of over these few five years. The health insurance industry, with no doubt is not to far off of suffering, and even for example if it was, it can be said that as an american we could only expect to see a jump in a lot of these big named firms and company closing their doors and even looking around for some kind of profitable opportunities that would benefit them and the people that it is offered too.

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