This article relates to the Affordable Care Act. The Affordable Care Act (ACA) also known as Obamacare that has signed into law in 2010.
The basic purpose of this act is to provide affordable health insurance coverage for all Americans. The ACA also helps to save people from insurance company tactics that might drive patient costs or restrict care.
Millions of Americans have got more benefits by receiving insurance plane through the ACA. Most of these people were unemployed or had low incomes. Also, some people couldn’t work because of a disability or family obligations. Others have preexisting medical conditions such as a chronic disease. Because of it, those people couldn’t get a decent health insurance plane.
The ACA has been highly controversial when it despite the positive outcomes.
Conservatives opposed to the tax increases and higher insurance premiums that needed to pay for ACA. In the healthcare industry, there are some people that critical of the additional works and costs placed on medical suppliers. These people also think it may lead to negative effects on the quality of the service. It caused frequent calls for the ACA to be repealed or overhauled.
There are some of the pros and cons of Obamacare are mentioned below,
Positive Side of the Affordable Care Act
More Americans have health insurance
More than 16 million people have obtained health insurance coverage within the first five years of the ACA in the US. Young adults have made up a large percentage of these newly insured people.
Health insurance plan is more affordable for most people
Nowadays most insurance agencies have to spend at least 80 percent part of insurance premiums on medical healthcare and improvements. Also, the aim of the ACA to avoid insurers from making unreasonable increases in rate.
This doesn’t mean that insurance coverage is free but the point is people have a wider range of coverage options now.
People are who have preexisting health conditions can no longer be denied coverage
Most people have faced difficulties to get a health insurance plan because of a preexisting condition like cancer before the ACA. Most insurance companies won’t cover treatment for these conditions. Those companies have shown this was because the illness or injury occurred before you cover by their plans.
Under the Affordable Care Act that cannot deny coverage because of a preexisting health problem.
No time limits exist on Affordable care
Before signed on Obamacare, there were some people with chronic health problems ran out of insurance coverage. Insurance companies also set limits on the expenses they would spend on an individual consumer.
Insurance companies cannot maintain a preset dollar limit longer on the coverage they provide their customers.
More screenings have covered in Affordable Care Act
The ACA is covered that many screenings and preventive services. From that usually have low co-pays or deductibles. The expectation of that is if you’re proactive in your healthcare then can avoid or delay major health problems later.
Consumers are which have good health will lead to lower costs over time. For example, diabetes screening and early treatment can also help prevent costly and debilitating treatment later.
“The ACA aim is to help all Americans have higher quality and less costly healthcare in the decades to come,” says Dr. Christopher Lillis. He is an internist in Virginia and a member of Doctor for America.
Prescription drugs cost less
Affordable Care Act has agreed to produce prescription drugs more affordable. Many people like particularly senior citizens who are unable to afford their medications. The number of prescription and generic drugs covered by Obamacare is growing every year.
Centers for Medicare and Medicaid services press that released from 2017. Medicare beneficiaries have protected over $26.8 billion on prescription drugs under this act.
Negative Side Of Affordable Care Act
Many people have to pay higher premiums for insurance
Now, Insurance companies provide a wider range of benefits and cover people with preexisting conditions. This is the reason that premiums to rise for a lot of people who already had health insurance.
How can fine if you don’t have insurance
The main purpose of Obamacare is for people to be insured year-round. If you don’t cover by any insurance plan and don’t obtain an exemption then you have to pay a modest fine. Some events have changed this fine recently. Also beginning with the tax year 2019 it will be eliminated.
Some people think that it is intrusive to require health insurance for the government. Supporters of ACA have argued that not having insurance passes your healthcare costs on to everyone else.
Taxes are increased as a result of the Affordable Care Act
Several new taxes had passed into law for help to ACA. Those are like taxes on medical devices and pharmaceutical sales. Taxes of people who earn high incomes also increased. There is funding that comes from savings in Medicare payments.
The wealthy people are helping to subsidize insurance for the poor people. Economists have predicted about the long term the ACA will help reduce the deficit and it may eventually have a positive impact on the cost.
It is better to prepare for enrollment day
The website of ACA had first launched they had a lot of technical problems. It was difficult for people to enroll and it led to delays. Also because of it, there were lower signups than expected.
After the ACA website problems eventually fixed still many consumers have complained that signing up for the right family or business coverage can be tricky. The enrollment period has also shortened as between November 1 and December 15.
There were set up programs to help guide consumers and business owners. Many hospitals and health agencies have set up those programs. The ACA website also has sections allocated to explaining the procedures and available options.
Organizations are reducing employee hours to avoid covering employees
The opposition parties of Obamacare claimed the legislation would destroy jobs. The number of full-time jobs has increased recently. But still, there are reports about cutting hours from employee schedules of some organizations.
Organizations with 50 or more full-time employees must offer insurance plans or make payments to cover healthcare costs for employees. Most companies could able to get 30 hours per week by reducing the hours’ definition of a full-time employee.