Affordable Care Act Essay

Submitted By TiffaniD
Words: 1569
Pages: 7

The Affordable Care Act is a universal healthcare program that was signed into law by President Barack Obama on March 23, 2010. It is considered as one of the most fundamental repairs to the United States healthcare system since Medicare and Medicaid passed in 1965 (, 2013). Starting January 1, 2014, the Act will take place to reduce the coverage in healthcare costs to millions of Americans by making services available to those who currently cannot receive health benefits. Under the law, a new “Patient’s Bill of Rights” gives the American people the stability and flexibility they need to make informed choices about their health (US Department of Health and Human Services, 2013). The execution of The Affordable Care Act in my opinion will have a positive impact for the American healthcare system due to various titles that include: lowering costs on coverage’s, making health plans comprehensive for all, expanding coverage, holding insurance companies accountable, but most of all improving the quality of care. The Affordable Care Act is very extensive in all its parts, so the information discussed through this paper will include different opinions of contributor’s views on children, elderly and healthcare programs as well as the positive and negative point of views of the Democrats and Republicans. The Affordable Care Act benefits are pretty clear and straightforward to any American despite of what the opposed states. It will provide coverage to more than 94% of Americans and reduce the deficit over the next ten years (, 2013). The Affordable Care Act will prohibit insurance companies from discriminating ones healthcare coverage due to pre-existing conditions (Klein, 2012). This change will benefit Americans with pre-existing conditions such as asthma, diabetes, high blood pressure, and etc since Americans have to be a part of the healthcare reform and must have coverage. Beginning in 2014, health insurers will no longer be able to charge more or deny coverage to anyone because of a pre-existing condition (U.S. Department of Health and Human Services, 2013). The Act fundamentally restructures Medicaid to cover all citizens and legal U.S. residents with family incomes less than 133% of the federal poverty level and to streamline enrollment (Rosenbaum, 2011). On the other hand, the five year waiting period will continue to recently arrived Americans but will qualify for tax subsidies and enrollment through a health insurance Exchange (Rosenbaum, 2011). Dependent coverage is available for children up to age 26 for all individuals and group policies (Kaiser Family, 2013). Up to 82% of nearly 16 million uninsured young U.S. adults will qualify for cost assistance or Medicaid through The Act marketplaces (Obamacare Facts, 2013). This will have a great impact for young Americans nationwide through the effectiveness of the program that would otherwise continue to be uninsured. The law is expected to spend a bit over $1 trillion in the next 10 years. The law’s spending cuts (many if which fall on Medicare) and tax increases are expected to either save or raise a bit more than that, which is why the Congressional Budget Office estimates that it will slightly reduce the deficit (Klein, 2012). The Act will allow each state to determine their decision on participating in the health insurance marketplace. In Texas alone, there was an estimate of $400 million people with Medicare who saved on prescription drugs because of the Affordable Care Act. In 2012, people with Medicare in the “donut hole” received a 50 percent discount on covered brand name drugs and 14 percent discount on generic drugs (U.S. Health and Human Services, 2013). This shows you that the Act will continue to increase over time until eventually the coverage gap is closed. The Act will also make Medicare Part D cost sharing for full-benefit dual eligible beneficiaries receiving home and community base services equal to the cost