As we all know, the 44th president of the United States, Barack Obama stepped down this year to give way to number 45, the current president, Mr. Donald Trump. Obama left behind a fairly positive legacy which the United States can be proud of. Much of this legacy left by Obama we hope will continue. One particular effect of Obama’s presidency which has many people talking is the controversial Obamacare. It’s a heated topic that almost all American’s have an opinion about, some of which are for it and others against it. For those of us who are not part of the United States, we may have been left scratching at heads at this presidential debate. In sum, is Obamacare a good thing or a big thing? If so, why? And if not, what’s the problem
Obamacare: A Brief Introduction and Analysis
First of all, let’s get to the bottom of what Obamacare is all about. It’s full and proper term is the Patient Protection and Affordable Care Act, and is also often referred to as The Affordable Care Act, or ACA abbreviated. On March 23rd, 2010, this act became official law as deemed by the American congress. Barack Obama won his act, managing to pass the law through Congress, much to the chagrin of many Republicans. The aim of The Affordable Care Act, or Obamacare, is quite self-explanatory. In its most simple terms, this act was to give Americans health insurance or to provide cheaper health care. As we know, health care in the United States is not free. Therefore, prior to the act, many poor people were not receiving important treatment due to insufficient incomes.
It seems like a gross indecency to allow somebody to die because they haven’t enough money to stay alive. A visit to the doctor in the United States is in most cases something to be avoided. Cancer treatment can set you back $30,000. Broken bones can also eradicate a few weeks wages. Thus, Obama stepped in and pushed the act forward. However, was effect does this act have on the rest of the country? Was it really a righteous move on the president’s behalf?
The Effects Of Obamacare
The following are 6 ways in which Obamacare is changing American health insurance for the better.
- Children up to the age of 26 years can be added to their parent’s plans.
- People will now no longer find themselves making co-payments in pregnancy and wellness situations. Most of these cases will be free.
- Insurance companies can no longer opt out of a plan if somebody gets severely ill. This, astonishingly, often happens.
- Insurance companies can no longer deny coverage for children who are chronically ill.
- Insurance companies are returning a lot of money to people after having spent it on other things, such as advertising and salaries. These cheques are essentially refunds from immoral insurance companies.
- Health insurance companies are now required to cover people who have pre-existing conditions.
- Premium payments can no longer be raised by insurance companies until they receive the authorization from the state government.
Much like the NHS (National Health Service) in the United Kingdom, Obamacare is working to give Americans equal rights when it comes to health. This, however, also means taxing the citizens, which leads us onto the next point.
Tax and Overall Costs For Obamacare
It was made clear that everyone should get on board with the act. Those who abstained forgot, or ignored the change ultimately faced having to pay 2.5% tax on their 2016 income. Approximately 85% of Americans have health insurance, and for this majority, the amount of income paid in taxes won’t alter much, if at all. For those who don’t have health insurance, the Individual Mandate is designed to force them to purchase insurance. This is, of course, if they can afford it. There have been many tax changes since the commencement of Obamacare – so many, there’s not enough room for it in one post. Furthermore, for those who earn more than $200,000 a year, the taxes will be greater. Taxes will also affect small business owners in a great way.
As for the costs, how much you will have to pay for your care depends on five things. These are your age, your income, your location, the size of your family, and which plan you choose. There are four main plans, each of which adheres to the 10 fundamental health benefits. These plans are Bronze, Platinum, Silver, and Gold. Bronze offers the lowest premiums for those who don’t need much coverage, whereas Platinum offers the most coverage.
How Does It Affect Medicare?
For senior citizens who receive Medicare, wellness and preventive care cases are now free. For those who are part of Medicare Part D, Obamacare provides a deduction on the costs of some prescription drugs. There were also deductions made in prescription brands, generic medicines, and other prescription drugs.
What Are the Problems Regarding Obamacare?
There has been a lot of controversy surrounding this seemingly generous act. On the face of it, Obamacare was designed to give everyone better, more affordable health insurance. President Barack Obama also claimed that it would save the United States billions of dollars. However, financial estimates state that it could, on the contrary, add trillions to the pre-existing debt. In reaction to this case, current president Donald Trump has sworn to erase Obamacare. It’s all very confusing, which is another reason why Obamacare is becoming a problem. Ultimately, people are not sure if they are winning or losing with the Affordable Care Act. The tax estimations are so intricate that it takes months to understand them, by which time they will have already changed.
Here are some more problems:
- Hospitals now have to computerize medical records. This means doctors now have to enter one of 140,000 codes when stating a diagnosis.
- Insurance companies are paying more for Obamacare.
- Health care costs are now more expensive over the short time.
- Those who earn more will now have to pay more for Medicare
- Millions of people have lost their company-sponsored health care plans.
In sum, it’s a very confusing situation which has everyone asking questions. There are more taxes than any one person can keep track of, some people are now paying more, and lots of people are losing their health care plans. On the other hand, people who once suffered under the old regime are now receiving better, more affordable care. There is, of course, a lot more to it than just that.