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ObamaCare: Pros and Cons, RFID Chip, and Future of ObamaCare

Updated on December 9, 2013

ObamaCare Summary

Enacted by the 111th United States Congress, the Patient Protection and Affordable Care Act (PPACA) commonly known as the ObamaCare, or the Affordable Care Act (ACA), is largely viewed as a revolution in the health insurance industry and the American health care system in general since the inception of Media and Medicaid in 1965. It was signed into law on 23rd March in 2010 by President Obama and contains a number of provisions that have been allotted a time space of 2010 through to 2020 to take full effect. These voluminous provisions bolster more rights and protections towards millions of uninsured Americans in accessing quality health care and evidently about 44 million Americans to date have been covered by these reforms. Women can now access better health services, the older men and women and America’s poor population have immensely benefited by full inclusion into the program. Evident milestone reforms include retaining young adults on their parents plan until 26, eliminating earlier set preconditions by insurance companies that had always resulted in abandonment of the sick. However, it has since undergone two major amendments; one in 2010 and the other in 2011 and a Supreme Court ruling on June 28, 2012 allowed states an opt-out alternative. While insurance is purchasable through State's Health Insurance Exchange Marketplace, this law sets 2014 as the deadline year for full population coverage otherwise a tax penalty will be imposed to those uncovered!

Pros and Cons of ObamaCare

Pros of ObamaCare

  1. About 50% of uninsured Americans are able to get low or even totally free health insurance through their State Health Insurance Marketplace and many more millions will get covered at affordable rates.
  2. Coverage is standard across the different genders and one cannot be dropped from coverage when either sick or made a genuine mistake in the coverage application process.
  3. Medicaid has been uplifted to include about 15.9 million people including children below 138% of the poverty level.
  4. State Children’s Health Insurance Program has been expanded to cover up to a good nine million of America’s children.
  5. Small businesses as well have not been left behind. They can presently benefit by getting credits of up to half of their employees’ premium insurance costs.
  6. A notable advantage is the fact that young adults up to 26 years of age are eligible to be covered by their parents’ plan until adults to qualify for free or low cost insurance hits the 26.82 percentage mark.
  7. Seniors have gotten improved Medicare services to include elimination of the Medicare Part D coverage gap resulting in low rates and expanded preventive services.
  8. This health and insurance plan has resulted in a reduction in general health spending of the entire population.

Cons of ObamaCare

  1. To facilitate this plan, new taxes have been introduced that directly affect high income earners notably the individual mandate and the employer mandate.
  2. The ObamaCare has a definite deadline of January 2014 on all citizens failure to which one may be exempted from the coverage plan and if not so pay a fee if at all you can afford it.
  3. A Medicaid expansion that results from this plan is State effected and not nationwide. Some states opt to maintain the status quo which may be an imbalance to the entire American population.
  4. There has been an increase on existing insurance premium values due to the fact that insuring agencies have an obligation to provide for covered services.
  5. Notably, the bigger picture of ObamaCare has its attention on all-citizenry coverage rather than it concentrates on resulting costs of care.

What the Future holds for ObamaCare

A string of policy provision characterizes the ObamaCare and is mostly projected into the future. Pre 2010 policies are excused under by a “grandfather clause” and groundbreaking reforms are to be set rolling beginning January 1st of 2014.

Health insurance policies have been standardized and a minimum level has been set due to be adopted by all insurance agencies.

Guaranteed issue mandate all insurance service providers to provide coverage to all seeking individuals despite their pre-existing conditions and partial community rating oblige insurers harmonize premium pricing to every applicant irrespective of gender, age, pre-existing conditions-except for tobacco users- and geographical proximity.

Health insurance exchanges-an online platform to compare policies and purchase insurance-is expected to begin operation in every state.

Federal subsidies will be granted to individuals and families that operate between 100% and 400% gap of income on the poverty scale. Those that fall between 133% and 150% should anticipate premium cost subsidies ranging between 3% and 4% of their basic income.

Under individual mandate, all individuals will have to be under the ObamaCare and if not, either pay a fine or get covered by a state recognized insurance agency that implements premium level and ACA policies.

RFID Chip for ObamaCare

The ObamaCare Bill (H.R. 3590) provides an amendment to the Food, Drug and Cosmetic act (21 U.S.C. 360i) by stipulating a mechanism of health and health related data acquisition that is not exclusively pegged on the RFID chip as a single alternative; with the term data in this provision referring to information not necessarily health, but that relates to it as well for instance survey data, electronic health records and standardized analytical files. ObamaCare proposes a data collection mechanism by the use of devices in the class III or the class II range which is inclusive but not exclusively the RFID chip. The amendment however, does not provide a compulsory implantation as is alleged by many a people convinced through unverified rumors even though FDA has provided for standard RFID models that could probably be applied as a data collection device. The scope of this method has been yet to undergo deeper analysis with involved stakeholders in various relevant fields.

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