Could someone list the Pros and Cons of Obama care?
- 6 years agoFavorite Answer
The Patient Protection and Affordable Care Act (P.L.111-148), and its supplemental Health Care and Education Reconciliation Act (P.L.111-152), a.k.a., the Affordable Care Act or Obama Care, consists of some long-needed REFORMS for the GOP-deregulated insurance industry, and puts in place some consumer protections that we lost when Nixon privatized (made for-profit) the hospital system, introducing HMOs.
The 1300 for-profit insurers were geared for all-profit/no-payouts for decades as more and more Americans were either knocked off of insurance rolls or denied access due to some trumped-up "pre-existing condition"...so more than 30 million Americans had no health coverage. Reagan's firing of PATCO (the Air Traffic Controllers Union) unleashed all-out corporate-greed WAR on full-time workers with benefits (to include employer-paid health care coverage), and this resulted in profit-grubbing CEOs getting rid of their full-time workers as a way of "expanding profit margins" for fatcat CEOs or Market investors at the expense of the employees upon whose labors these profits relied. Obama Care is designed to fix this denial of access (see whitehouse.gov and click on Health Care for details).
Before the ACA, people used the more expensive Emergency Rooms for nonemergency care, driving up costs exhorbitantly and then having those higher costs passed on in the form of higher insurance premiums or higher hospital costs to the insured. Post-ACA, people now have affordable care, preventive care has to be included on all policies for FREE---no hidden costs or copays, kids can remain on a parent's policy to age 26, no one can be denied coverage due to any pre-existing condition, and no one can be abruptly dropped from coverage after years of paying premiums if they become ill or injured. These are some of the basics. But there is more...
The 80/20 Rule (my personal favorite) requires that the 1300 greed-driven insurers now have to spend at least 80% of every premium dollar you (the consumers) pay ON YOU for actual medical care in the year or else the insurer now has to REFUND THE DIFFERENCE to you at the end of each year. Cool, huh?
The available subsidies are as follows: Americans making up to 133% above the federal poverty line, which is $15,282 a year for an individual or as much as $31,322 for a family of four, qualify for the Expanded Medicaid provision of the ACA, which in many cases means these people will be paying nothing or a tiny (affordable) monthly fee to have better coverage than anything which existed prior to Obama Care. Those making up to 400% above the poverty line ($45,960 for one; $94,200 for four) still qualify for federal subsidies (tax credits) that can reduce cost dramatically. For states, the Expanded Medicaid is especially beneficial for those states who have accepted the provision because the federal government covered the costs 100% for the first two years (2010-2011) and then 90% of the costs thereafter---a SAVINGS for these states who, prior to ACA, were required to pay for 50% of Medicaid from their state budgets. This means $billions$ of dollars saved that can be put to use for better citizen services, for paying down debt...all sorts of benefits for the state budget.
College students (including medical students) can reduce their long-term debt significantly by making their student loans DIRECTLY through the Department of Education (part of the HCERA portion of Obama Care), and this eliminates the high-interest-charging banks as middlemen (so banking lobbyists are not too happy).
If you read the law yourself, you will discover many benefits. The requirement that all hospital records (handwritten especially) be computerized has multiple benefits for patients, hospital administrators, and health care professionals. Seriously, take the time to read the law in its entirety. You will find much to love.
- jakemcclakeLv 76 years ago
Pros (mostly for patients):
Restricts healthcare insurers from barring people or raising rates due to pre-existing conditions,
Children can remain on their parents policy until 26.
Clarifies issues in the fight against healthcare fraud waste.
Provides funding for Community Healthcare Centers as a form of safety net and to lower admissions to hospitals.
Sets up the Shared Medicare Payment system that pays different providers as a group for an episode of care for a patient and bases that payment on the quality of the services.
Allows for filling of Medicare Part D Donut Hole,
Requires Healthcare insurers to be transparent and rebate premiums in excess of the amount paid 80% for medical payments (Called Medical Loss Ratio).
Requires Hospital, Physician and Nursing Home compare websites constructed based on the quality of care factors.
Changes healthcare payments away from Fee for Services (More money for more services) to paying more for quality of healthcare.
Allows for Bio-similars to assist in reducing drug costs.
Lowers Medicare payments to enable Medicare to exist longer.
Funds the latest healthcare training on the latest methods.
Large and complex, and hard to read, and very easy to oversimplify and misrepresent,
Lowers Medicare payments to providers,
Increases taxes on Healthcare insurers, Pharmaceutical and medical device companies,
Increase coverages, causes some deductibles, and premium increases.
Causes some push back by healthcare insurance of restricting healthcare provider networks,
Causes a pushback by healthcare insurers of paying less to healthcare providers,
Combined with the Medicare and Medicaid payment reductions, causes a pushback from some healthcare providers to not take Medicare/Medicaid or healthcare insurance
Comments of Jonathan Gruber,
Promises of President Obama
- Anonymous6 years ago
Cons: Obama thanks us for having health care