Affordable Care Act

Affordable Care Act

Introduction

This paper intends to talk about affordable care act. Affordable care act has been praised and criticized since it has been implemented. The purpose of this paper is to make the reader aware about the various important facts related to affordable care act. This paper intends to explore about Affordable Care Act commonly known as 'Obama Care'. Firstly, the paper describes what the plan is all about. Moreover, the propaganda against the Act will be observed from both the liberal and conservative perspectives.

Affordable Care Act

Quality and affordable health care provision and improvements within the health care sector is the basic necessity of all the residents of America. The Affordable Care Act is meant to fulfill this basic necessity. Around 94% of people living in America will be under coverage in accordance with this Act. The cost curve is twisted and the deficit is expected to reduce by the Obama's financial experts. The Act is initially supposed to be under the limit of $900 million. In my opinion, Obama Care Act intends to help American nation as everyone gets health care equally.

The Act basically contains nine main categories in which reforms were made. These categories include quality health care at affordable prices for all the residents of America, public programs initiatives, quality and efficiency improvement in the sector of health care, improving public health by preventing diseases that are chronic, workforce of health care, integrity and transparency of the health care sector, innovative medical therapies being easily accessible, support and assistance to community living and lastly provisions for revenue.

The involvement of health insurance companies in this respect is assumed to be significant. Obama care tends to minimize the coverage gap of insurance. Moreover, the Act also prohibits the insurance companies to deny coverage to children having existing medical complexities. The Act also promotes the coverage of young adults till the age of 26. The health services of women are also focused within the Act. The most apparent disadvantage of the Act to insurance companies is that the premiums tend to go towards the American health care sector rather than the profits of insurance companies. From the viewpoint of Insurance companies, there are quite a few loopholes within the Act. The companies do not appreciate the implementation of Obama Act as their profits are minimized and they have to provide coverage to more and more people (Holohan, Garrett 2010).

A threshold of around $1,350 for individuals and $3,000 for families is estimated for people who are retired having an age of fifty five or more. Employees that are involved in high risk professions are also covered under this Act. An annual premium which is beyond $ 8,500 for singles and $23,000 for families is planned. Moreover, this Act imposes a new tax of around 40% on insurance companies. Among the justifications of those suggesting repeal of the Affordable Care Act is the argument that the law will further worsen the lack of employment in ...