Affordable Care Act: A Snapshot of Pros and Cons
Signed into law by President Obama in 2010, the Affordable Care Act is the most sweepingreform of the United States’ healthcare system since
the 1965 passage of Medicare and Medicaid. And as every sweeping reform, ACA has its enthusiasts and opponents. Here are both voices in a nutshell:
1. Expanded health insurance coverage. Thirty-two million Americans who would not have been covered by health insurance either now have coverage or will get the coverage they need starting in 2014.(including young people ages 19 through 25 who can be added to their parents plans).
2. Better choices for small businesses,
Starting with new protections that limit the outrageous rate hikes many small business owners faced in the past.
3. Reduced budget gaps.
The Congressional Budget Office (CBO) estimates that the PPACA
will reduce the national budget deficit by $143 billion by 2019 because of the Act’s associated taxes and fees.
4.Reduced healthcare costs.
According to the Congressional Budget Office
(CBO), the cost of healthcare could be reduced. Since the Act makes sure 95 percent of citizens have health insurance, preventative healthcare will be more accessible.
1. Higher drug costs.
Pharmaceutical companies will pay an extra $84.8 billion in fees over the next ten years. This could raise drug costs if they pass these fees on to consumers.
2. Potential shortage of healthcare professionals.
3. Huge cost cutting for Medicare. Senior citizens will notice a significant change on the benefits and advantages that they receive from the organization. In addition, the Medicare tax is expected to rise in the next coming years
4. No incentives or financial relief awarded to healthcare professionals.
Health care professionals such as physicians and other members of the health care team seem to have been left out when the bills was passed.