Obamacare

Obamacare

Introduction

The patient Protection and Affordable Care Act (PPACA) commonly called Obamacare or the Affordable Care Act (ACA), is a United States federal Statute signed by President Barack Obama on March 23rd, 2010. Altogether with the Health Care and Education Reconciliation Act, it follows the most important government expansion and regulatory overhaul of the United States healthcare system. The aim of Obamacare is to increase the coverage of health insurance for Americans and to reduce the overall costs of health care. In order to increase the coverage rate it provides a number of mechanisms that includes subsidies, mandates and tax credits etc. Furthermore, improvement of healthcare outcomes and streamline the delivery of healthcare are additional reforms of Obamacare (Barnett, 2012).

Discussion

The pros and cons of Obamacare reflect the complex nature of the new health care law. Obamacare have numerous benefits for low and middle income families and businesses while, it also contain many obstacles for high income earners, firms that do not provide insurance to their employees and certain other sectors of healthcare industry (Obamacare Facts, 2013).

Pros

One of the most important benefits of Obamacare is the new law that prohibits the insurance companies dropping of clients who develop long or expensive conditions. Obamacare also forces insurance companies to insure people with pre-existing problems and issues. Children will be included in this rule immediately whereas, adults will be included in this rule in 2014. Obamacare holds insurance companies accountable for and does not allow companies to back out on the people who require it most. Obamacare provides children with ability to stay on the plan of their parents until they grow to 26. This will allow them to go through the college and discover their footing before requiring being anxious about discovering on health insurance. This would be a benefit for the insurance companies ...