Obamacare Essays

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Affordable Care Act Essay

Words: 1354 Length: 4 Pages Document Type: Essay Paper #: 71207303

Affordable Care Act

Legal Studies 101

Commerce Clause and the Affordable Care Act

The Affordable Care Act (ACA) of 2010 was signed into law on March 23, 2010 and a number of provisions have already gone into effect and still others are scheduled to be implemented over the next four years (Henry J. Kaiser Family Foundation sec. 2). Probably the most controversial provision is the requirement that Americans who chose not to purchase health insurance will be assessed an annual penalty for 'opting-out.' The so-called 'individual mandate' will be phased in over a period of three years, from 2014 to 2016, and individuals or families can 'purchase' the right to live without health insurance using a flat rate or percent income plan. The flat rate plan will increase over the three-year phase-in period and will eventually range from $695 to $2,085 per year. The percent income plan will increase from 1.0% in 2014 to 2.5% by 2016. Exemptions are provided for low-income individuals and families, Native Americans, undocumented immigrants, or anyone between jobs for less than three months.

The contention that the individual mandate wouldn't stir up considerable controversy, especially in a country that treasures individual freedoms, is simply dishonest (Tennant par. 1-3). President Obama's comparison of the individual mandate with state laws requiring drivers who license cars to purchase auto insurance seems reasonable on the surface, but a more detailed comparison can't withstand the scrutiny. Auto insurers can choose to refuse coverage to bad drivers or charge exorbitant rates, and no one is required to own and license an automobile. In contrast, all non-exempt citizens will be required to purchase qualified health coverage or pay a penalty. The option of not participating isn't available under ACA. For this reason, the ACA has been a lightning rod for lawsuits since the day it was signed.

It therefore should come as no surprise that close to…… [Read More]

Resources:
Fisher, Daniel. "Obamacare's Fate Rests with Poor Farmer Filburn." Forbes.com. Forbes Mag., 14 Sept. 2011. Web. 28 Oct. 2011.

Henry J. Kaiser Family Foundation. "Focus on Health Reform: Summary of New Health Feform Law." Kff.org. Henry J. Kaiser Foundation, 15 April 2011. Web. 28 Oct. 2011.
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Affordable Care Act Essay

Words: 1007 Length: 4 Pages Document Type: Essay Paper #: 57154400

Affordable Healthcare Act (ObamaCare)

The main objective of the federal government is to offer an affordable healthcare services and products to the citizens. Health is one of the development indicators in relation to the condition of the economy. In the process of enhancing the healthcare services within the United States, the government and the congress sought to adopt and implement an effective healthcare plan towards the achievement of the societal goals. This relates to the adoption and implementation of the ObamaCare in 2010. The main goal of the healthcare plan is to offer affordable health insurance for the citizens of the United States thus reduction in the growth of the healthcare spending by the society members. The affordable healthcare plan does not seek to replace the concept of private investment, Medicaid, or Medicare programs by the federal government and various states. The plan focuses on enhancing accessibility to the healthcare programs and services to all citizens regardless of their political, social, and economic status. Currently, the cost of healthcare services and products is costly or expensive. This is beyond the reach of most of the citizens thus the need to cater for the less fortunate members. ObamaCare represents a step in the right direction because of no annual limits, lack of health insurance restrictions on sick citizens, coverage for preexisting conditions, quality care and protections for the seniors, efficiency of the healthcare towards women needs, and focus on the preventive services.

Analysis

Arguments for ObamaCare

ObamaCare or affordable healthcare plan in the United States has several benefits towards the citizens regardless of the status within the society. ObamaCare or Patient Protection and Affordable Care Act focuses on the introduction of equality within the context of the United States. This is through affecting the taxation systems for the ordinary and wealthier…… [Read More]

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ACA What it Means for the Elderly Essay

Words: 1472 Length: 4 Pages Document Type: Essay Paper #: 64348551

affordable Care Act (also known as the ACA or Obamacare) on the elderly

Obamacare: Its impact upon the elderly

The impact of the Affordable Care Act (ACA) (often called 'Obamacare') upon America is often discussed by politicians as if it had a uniform impact upon all citizens. However, the ACA's effects have been relatively disparate, depending upon the nature of the population. This paper will specifically focus upon the impact of the ACA on the elderly of a variety of socio-economic categories.

One of the criticisms of the American healthcare system before the passage of the ACA was the spiraling cost of entitlement programs such as Medicare, the federally-provided health insurance program for seniors. "One good result of all this [ACA] is that the burden of Medicare for taxpayers in future years has been drastically lowered. In fact, the day Barack Obama signed the ACA into law he cut the long-term unfunded liability of Medicare more than in half" (Goodman 2014). However, the ACA accomplishes its cost-cutting objective by imposing a cap on Medicare spending, including reimbursements to physicians that take such patients (and Medicare already reimbursed physicians at a far lower rate than private insurance). "One bad result is that that Medicare beneficiaries are likely to be pushed into a second tier health care system -- where access to care will become increasingly difficult, as seniors less financially attractive to providers become Medicaid patients" (Goodman 2014). For seniors reliant upon Medicare and Medicaid as their primary sources of healthcare -- not private insurance -- some argue that this could compromise the care they receive.

Others counter that the law has actually had a number of salutary effects for the elderly. For example, "in New Hampshire, Medicaid pays for in-home care for nearly all of its developmentally disabled residents. For frail elders, the opposite is true. Most wind up in nursing homes. To remedy this imbalance, New Hampshire is taking advantage of Affordable Care Act funding for a program aimed at removing existing barriers to providing long-term care in people's homes and communities" (Vestal 2014). For patients who are released from the hospital, the Community Care Transitions Program (CCTP), "helps high-risk Medicare beneficiaries prevent readmissions by connecting them to services in their communities, such as a home health agency, an Area Agency on Aging or an Aging and Disability Resource Center" rather than going to a…… [Read More]

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ACA Has Had on Physicians This Is Essay

Words: 614 Length: 2 Pages Document Type: Essay Paper #: 32216901

ACA has had on physicians. This is related to my field of study, and to the article that I worked with last week. This issue can be examined in terms of how it affects private practice, how the demand conditions have changed and how the workload has changed. There are a lot of different dimensions to this story. I have chosen this focus because it interests me.

The Affordable Care Act allowed millions of Americans to enjoy medical insurance coverage, when they previously had not been able to do so. One of the predictions before the ACA was brought into force was that bringing millions of people into the health care system would strain the system's existing resources. The theory is that the system was already near capacity, so adding that much new demand would strain that capacity.

There have been a number of articles providing anecdotal evidence that there are changes within the medical system. Some physicians have noted that they are working harder, but getting paid less as government tries to lower the costs in the health care system. The result is that many private physicians are turning to larger clinics and groups in order to limit their workloads, and gain a measure of financial protection.

The reason for this is that there are high fixed costs associated with running a private practice office. Basic economics tells us that when margins are driven downwards, volumes have to increase in order to cover fixed costs. While the new economic reality is that volumes are increasing, this makes the job much harder, seeing more patients and earning less money.

Unit 7 Discussion Board

I would need to strengthen most of the Unit 6 paper with research. In particular, it would be good to find hard numbers for the financial impacts of the ACA. The current…… [Read More]

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ACA Accounting Essay

Words: 1015 Length: 3 Pages Document Type: Essay Paper #: 50602798

Accounting

The Affordable Care Act (a.ka. Obamacare) has created some interesting implications for financial reporting. The issues revolve around the determination of benefits, particularly when companies opt to put their employees through Obamacare insurance exchanges where they had previously been on a company plan. The Affordable Care Act was signed into law in 2010, and reshaped the health care insurance industry in particular. With the creation of health care insurance exchanges, competition in health insurance was increased and some of the information asymmetry in the health care market decreased -- though not nearly enough for the market to be considered competitive.

One of the implications for accountants of the Affordable Care Act is that many employers have taken the opportunity to move their employees off of employer-sponsored plans and onto the exchanges as a means of reducing the cost of their benefits programs. As the ACA implementation process accelerates, the accounting implications are becoming more apparent. This paper will discuss some of those. In particular, there are several new ways that liabilities can arise under the ACA, usually with respect to retiree benefit plans. This new liabilities will need to be recorded, but there is also the possibility that the FASB will need to become involved in emerging issues, since the implementation of the ACA has just begun and its accounting implications are not yet clear.

Whitehouse (2014) notes that negative plan amendments might be required, when a company reduces a benefit that has already been earned. There may be litigation involved in some circumstances. For some workers, the insurance would be subsidized by the taxpayers, which improves the attractiveness of the idea for employers (Nussbaum, 2013). There had already been a decrease in retiree health care coverage as the result of FAS 106. FASB Statement No. 158 further strengthened the provisions regarding the reporting of underfunded or overfunded retirement benefits. Health care…… [Read More]

Bibliography:
CalCPA. (2014). ACA mythbuster. California CPA Education Foundation. Retrieved May 2, 2014 from http://www.calcpa.org/content/27238.aspx

FASB (2010). Contingencies (Topic 450). Financial Accounting Standards Board. Retrieved May 2, 2014 from http://www.fasb.org/cs/BlobServer?blobkey=id&blobnocache=true&blobwhere=1175823559187&blobheader=application%2Fpdf&blobheadername2=Content-Length&blobheadername1=Content-Disposition&blobheadervalue2=309726&blobheadervalue1=filename%3DProposed_ASU_Contingencies_Topic_450_Disclosure_of_Certain_Loss_Contingencies.pdf&blobcol=urldata&blobtable=MungoBlobs
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ACA Impact on States Essay

Words: 1889 Length: 7 Pages Document Type: Essay Paper #: 8307509

Health Care Reforms

Healthcare reform has been a national issue for some time and the ability to afford citizens the opportunity to adequate healthcare services is an interesting debate with many ideas and arguments both for and against the practice. To help understand the finer meanings of what health care reform laws can impact on a region it is necessary to examine the impact of such reforms on a selection of states.

The purpose of this essay is to compare and contrast the varying health care reform laws of three differing states. This essay will examine Maine, Vermont and Massachusetts transformations in healthcare laws to help contextualize the law and demonstrate its feasibility, or lack of feasibility within the real world

The impetus for the attention given to health care reform has no doubt started due to the efforts of the Federal Government's involvement in regulating medical treatment through policy and law. On March 23, by executive order, President Obama signed the Affordable Care Act into law. This law introduced a series of steps and sequences that would eventually bring the law into full fruition.

The intentions behind this procedure were many and varying and there appears to be benefits and negative aspects depending on who you are and where you live and what your relationship to the medical establishment is. According to Drew (2010) "The Patient Protection and Affordable Care Act will ensure that all Americans have access to quality, affordable health care and will create the transformation within the health care system necessary to contain costs. The Congressional Budget Office (CBO) has determined that the Patient Protection and Affordable Care Act is fully paid for, ensures that more than 94% of Americans have health insurance, bends the health care cost curve, and reduces the deficit by $118 billion over the next ten years and even more in the following decade."

These economic benefits have yet to be realized and are even doubted by many. Tully (2009) suggested that there were many risks involved before the bill was passed and that many surprises may be in store to manage such a large scale operation. He wrote "If you prize choosing your own cardiologist or urologist under your company's Preferred Provider Organization plan (PPO), if your employer rewards your non-smoking, healthy lifestyle with reduced premiums, if you love the bargain Health Savings Account (HSA) that insures you just for the…… [Read More]

References:
Bragdon, T. & Allumbaugh, J. (2011). Health Care Reform in Maine: Reversing "Obamacare Lite.." The Heritage Foundation, 19 July 2011. Retrieved from http://www.heritage.org/research/reports/2011/07/health-care-reform-in-maine-reversing-obamacare-lite

Grubb, L. (2013). Lessons From Vermont's Health Care Reform. The New England Journal of Medicine, 4 April 2013. Retrieved from http://www.nejm.org/doi/full/10.1056/NEJMp1212974