The Insured American Under ObamaCare
ObamaCare (officially termed the Patient Protection and Affordable Care Act or PPACA), at first scan, appears to be exceptionally tough on the insured person. Let's take a look at the balance of pros and cons at first glance.
- The addition of many new costumer benefits as well as consumer protections.
- The increased price of health insurance might just equalize the new user benefits and protections, leaving the insured citizen exactly right where they were before ObamaCare. (The remainder of the cons underneath are truly more or less an enumeration of these expenses.)
- Those with insurance from an employer may have their plans dropped on account of escalating pricing.
- The penalty for making non-allowable purchases will rise to 20%.
- The money an employer will be able to add to any Flexible Spending Account will become capped at $2,500. Historically, there has been no established limit on these particular accounts, although it was a regular strategy for an employer to assign one at $5,000.
- Those on Medicare will see their benefits diminish on account of ObamaCare's spending cuts. Spending cuts mean lower reimbursements for health care services, effectively disincentivizing medical professionals from taking Medicare. (Just in case that all was like giberish to you, please stand by. We'll be going through a series of pieces shortly where we'll outline the reimbursement process and information about how health insurance pays for health care.)
- Those on Medicaid may see the level of health care accessible to them considerably degraded. The program could very well be flooded by the high number of new enrollees, shrinking every single end user's piece of the proverbial pie.
From this list, it seems as though ObamaCare is out to get Americans who came into the program with coverage. It's not as convenient as that though. The cons are sacrifices that the Obama administration decided are worth making for the pros, specifically the consumer benefits and protections. Time alone will tell where the equilibrium will actually rest.
Irrespective of how we truly feel about ObamaCare in its entirety, it's critical to bear in mind that it's not only about spending and cuts. ObamaCare does indeed endeavor to generate a sustainable situation. It just turns out that people possess what would seem to be impossibly opposing views of what way the act will likely play out.