List of Pros and Cons of the ACA
The (ACA) or Affordable Care Act 2015 also ObamaCare was put into legislation to cover everyone in America. This health care legislation will help to make insurance more affordable for millions of low income people. The act expands Medicaid to millions of low class Americans.
The act was created by the government to guarantee coverage of insurance for (1)pre-existing conditions and (2)elimination of gender discrimination.
Another requirement of the act is (1) You have to buy and pay for an insurance policy or (2) You have to go online to your state’s online marketplace and purchase a policy where they will give you an exemption and subsidy to pay your premiums.
List of Pros of the ACA
1. Millions of lower and Middle class people will get coverage under the new system. Medicaid will be expanded.
2. Over half of Americans will get free Healthcare or inexpensive care
3. There are more options available for health policies and they must all provide the minimum coverage.
4. More protection in policies. You can’t get dropped for being sick or a woman.
5. The cost of coverage has started to decrease and inflation has slowed as a result of the new cost cutting by the government.
6. Medicaid has expanded more for people living in poverty.
7. CHIP or health insurance for children has expanded to cover millions
8. Employer Mandate states anybody with more than fifty full time employees must provide health insurance
9. Employers with less than 25 employees can get tax credits for their employees. Up to fifty percent credits.
10. Young adults will be able to afford insurance. They will also be able to stay on their parents plans till age 26. Will cover over 80% of young adults. Will help protect them in an emergency.
List of Cons of the ACA
1. Taxation of richer individuals under the law. Also the employer Mandate Law creates higher taxes for companies.
2. The Mandate gives people who get coverage an exemption. Some people fall through the cracks.
3. The options and policies become more complicated and confusing.
4. With more protection in policies they have become harder to understand. You risk spending money on something you don’t even understand.
5. Cost cutting requires more regulation.
6. Medicaid funding falls short in some states.
7. CHIP also uses state funds.
8. Employers end up cutting employee hours, as a result some employees can’t afford insurance.
9. Employee benefits are expensive.
10. Young people stay healthier so it is a great deal for them.
What Difference Does the ACA Make?
The ACA continues to operate under the free market system providing great economic benefits. This economic freedom makes the American system pricier than other countries with Universal Healthcare.
The new ACA on the whole lowers the overall cost of health care. The new act also makes preventative health care free. The new system will just take time for people to get used to.