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Understanding Obamacare

Updated on December 21, 2016

The Affordable Care Act Law, better known as Obamacare was put into place in 2010, in this article we will review the matrices of the law, to ascertain if the health reform been effective?

What is the aim of this Law?

The Affordable Care Act was implemented to provide more Americans with affordable health insurance, regulate the health industry, and improve the quality of health insurance and healthcare in the United States. The intent of the law was also to slow the growth of US healthcare spending, which is the highest in the world.

Why did the industry need regulating?

Health care in America, for many years has been very expensive, beyond the reach of many, therefore, a vast majority of the population, simply did not have healthcare, or could not afford a healthcare plans that fully fit the needs of their family. Others paid out of pocket when health care was needed, which proved to be an expensive burden.

For those who could not pay for healthcare, they were refused medical service. Others with per existing conditions were often denied Healthcare Insurance. A reform was long over due. As a side note, interestingly in certain European counties health care is free, however not so in the USA.

Why the controversy over Obamacare?

  • Opposing parties felt that the law imposes too much costs on business and intrudes into the private affairs of business and people in general. Many opposers fought the law from the beginning.
  • The phased rollout of the law had some set backs, for example, the website had a meltdown.
  • The mandate that businesses with over 50 workers must provide insurance was delayed two years
  • Deadlines to avoid penalties and enrollments were pushback for weeks.
  • These were only a few controversial issues, there were and still are many others.

After all of the controversial dust has settled, is The Affordable Care Act Law working?

Many say yes and other say no. Perhaps the following information will be helpful for your to decide for yourself if the new Health Reform is beneficial or not.

Access: In the state of Kentucky, 75 percent of individuals who enrolled in the affordable Care Act last year said that it was the first time they had health insurance.

Despite technical glitches and all, the state of California was able reduce its rate of uninsured persons in half, from 22 percent to 11 percent. This year, California has opened storefronts to help people enroll and is targeting difficult-to-reach populations through additional efforts.

Costs: Growth in health spending over the past four years has been the slowest rate on record in approximately 50 years. Of course there is controversy over why this is so.

More resources, Patients also now have more resources and tools that support transparency in pricing and quality of providers, which can help them save money on procedures without compromising safety or effectiveness.

What are some of the benefits of Obamacare?

  •  Expands Medicaid eligibility so low income families could pay for the cost of health insurance;
  •  Requires that all Americans have health insurance through a private provider or a federally assisted program;
  •  Offers cost assistance and affordable quality premiums through the health insurance marketplace;
  •  Allows young adults to stay on their parents’ plan until age 26;
  •  Ends lifetime limits on health insurance coverage;
  •  No longer allows healthcare providers to drop you if you become ill, even if you made an honest mistake on your healthcare application;
  •  Makes it illegal to be denied coverage because of a past illness or be charged more because you are a woman.
  •  Reforms Medicare by providing Medicare recipients with new protections and benefits.

The bottom line is, that any major reform will have it opposing factors, change is not easy on any level, and what we have seen with the Affordable Care Act is proof of this fact. For many perhaps it is a good things for others it may not be. Each person can be the judge of how this new law has affected his or her lives.

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