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.
Pros
- The addition of many new costumer benefits as well as consumer protections.
Cons
- 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.
