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Affordable Health Care Act/Obama Care
What is Obama Care?
Health issue is a critical concept in relation to the growth and development of any nation. It is essential for the healthcare to be affordable and accessible with the aim of enhancing the health conditions of the citizens of the relevant nation. In the context of the United States, there is the adoption and implementation of the concept of Obamacare in the healthcare system. The President of the United States, Obama, in association with the Congress signed Obamacare into law in 2010. The main aim behind this development is to ensure that all Americans have access to healthcare programs through enhancing accessibility to health insurance. This is because in the modern economy and health sector, it is expensive when visiting doctors for healthcare services and products (Klosek p. 32).
According to analysis of the economic resources, it is essential to note that healthcare costs are massive contributors to the concept of bankruptcy in the United States. Implementation of the Obamacare ensures that the families in the United States do not worry about the increase in the cost of the healthcare systems within the nation. This is because the program ensures that most of the health costs and activities are managed effectively and efficiently. According to the program, most families with the insurance plans have the ability to pay minimal costs while visiting hospitals for the acquisition of healthcare services. Most individuals within the United States obtain insurance coverage as benefits from their employers. This is through integration and incorporation of the concept of premium in relation to the monthly cost thus offering insurance coverage to the employees.
The program also provide for unemployed individuals and people who lack health insurance within the context of the United States. This is through integration and application of the concept of Medicaid and Medicare. Medicare offers health insurance programs to the individuals who are above the age of 65 (Klosek p. 34). The federal government pays majority of the funds in relation to the realization of the goals of this health insurance program. Medicaid also operates towards the provision of health insurance programs and coverage to the poor individuals within the society under the influence of funding by the federal government of the United States.
In case an individual does not qualify for the Medicaid and Medicare programs because of their age and wealth, but are self-employed, the Obamacare requires self-payment for the health insurance coverage. This is because these individuals do not have employers to pay for their health insurance coverage thus the need to manage their healthcare services through paying for the coverage. In most cases, it is an expensive approach thus, most of them decide to take chances and ignore paying for the health insurance coverage. Some individuals also have chronic illness or preexisting conditions limiting the chances of procuring health insurance coverage from the insurance companies within the context of the United States. It is also essential to note that approximately 32 million citizens lack health insurance coverage (Klosek p. 36). This causes the cost of healthcare services to escalate because hospital facilities must cover for some uncertainties such as failure to cover cost of the services. Obamacare is officially known as the Patient Protection & Affordable Care Act of 2010. It plays a critical role in enhancing the health conditions and services in the context of the United States.
Changes that will take place every year
Patient Protection & Affordable Care Act of 2010 or Obamacare is complex thus the need for its implementation in five years. It focuses on bringing relative and substantial change to the lives of the citizens in the United States through improving the healthcare services and reducing the cost of procuring health needs. There are relevant changes that have already taken place in relation to the implementation of the affordable healthcare program since 2010. Implementation of the program allows parents the opportunity to include their adult children up to the age of 26 within their insurance plans. Another development relates to the obligation for obtaining healthcare services. This is because according to the program, health insurance companies cannot drop or determine the maximum amount of utilization in case an individual gets sick. Children with chronic diseases also have improved their chances of obtaining insurance coverage because of no restriction from new insurance companies for the essential coverage.
Majority of the families in the United States also do not have to make co-payments for the personal examination and pregnancy check-ups because the exams are now free following the implementation of the program. The state governments also have the authority over the insurance companies thus the opportunity to manage premium payments effectively and efficiently. Another change is the payback of the excess funds to some families by the insurance companies in relation to the execution of this program of Obamacare. Obamacare also enhances the opportunity for the families to obtain health insurance coverage temporarily until 2014 in case of pre-existing conditions limiting their procurement of the health insurance coverage. This is because by 2014 health insurance companies will not have the ability to deny health insurance coverage to the adult citizens. Individuals who qualify for the Medicare program now have the opportunity to obtain wellness and preventative visits without extra costs. The projection of the program indicates that there will be 100% coverage for the prescription drug costs for the citizens on the Medicare part D by 2020 (Pipes p. 186).
The program has also been a revelation to the small business owners. Small businesses have 25 or less employees enhancing the achievement of the goals and objectives of the entities. These business entities now have the opportunity to obtain about 35 percentages in relation to tax credit from the cost of the Obamacare while handling their healthcare services and needs (Tate p. 214). This value will increase to about 50% by 2014 thus transformation of the healthcare sector in the United States. Small businesses offering health insurance programs or coverage to the early retirees also obtain assistance in facilitating their efforts from the federal government. In 2013, the only change to take place in the context of the Obamacare is the transformation of the taxation system. This relates to increase in the level of taxes for the individuals earning $200,000 or more as monthly income. The program will also increase taxation for the families earning $250,000 or more (Tate p. 214).
There are significant changes that will take place in 2014 according to the implementation of the Patient Protection & Affordable Care Act of 2010. One of the changes is the need for the procurement of the health insurance coverage by all citizens of the United States. Failure to adhere to this proposal would result into severe penalty such as deduction of the monthly income to volumes of approximately 2.5% (Tate p. 216). Individuals will have the opportunity to procure health insurance coverage through exchanges programs from the websites under the influence of the state governments. The program will also ensure that Congress also obtain the insurance coverage through same exchanges rather than the government-provided programs in the current settings. Another significant change in 2014 is the inclusion of the concept of tax credits for the families. This will contributes towards enabling the middle class families to afford and procure health insurance coverage. This indicates that health insurance coverage will be available for the individuals between 100 and 400 percentages in relation to the poverty line (Pipes p. 188).
Effects on the New York Residents & Hospitals
Patient Protection & Affordable Care Act of 2010 or Obamacare will focus on improving or transforming the lives and health conditions of the citizens of the United States. In the context of the New York residents and hospitals, Patient Protection & Affordable Care Act of 2010 or Obamacare will contribute greatly towards the improvement of the health condition within the region. One of the benefits of this program is the ability to enhance or facilitate provision of the health insurance coverage by small business entities to their employees. This is through aspects of tax credits thus enabling the small business to meet the demands and objectives of the health insurance needs to their employees.
This will also ensure that the employees afford their health services and needs thus the opportunity for the realization of quality health, growth, and development. Young adults in the context of the New York City will also have the opportunity to stay on their parent's insurance coverage or plan until they attain the age of 26 thus reducing the cost of healthcare services in case of illness. Another essential benefit for the residents of New York City relates to the prohibition of the insurance companies from denying citizens coverage for their healthcare needs. This will enable parents who give birth to children with defects to manage the conditions effectively and efficiently through procurement of health insurance needs. This will reduce the cost of healthcare to…[continue]
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