Obamacare is a federal government mandate where everyone should get a health insurance or else they pay a tax. There’s a mixed of emotions to this but it has already brought a lot of benefits to Americans. But what happens now when President Donald Trump and Obamacare does not go too well? The Patient Protection and Affordable Care Act is giving subsidies for middle-income generating families.
The Obamacare is also expanding the Medicaid benefits for low-income people. This has helped a lot of businesses offer health insurance. This is what Obamacare is all about. This has been made possible by taxing other healthcare providers and high-income families. Doctors are receiving high pays for providing quality care rather than fee for service.
More About Obamacare: What You Need to Know
Since President Trump took over, the Republicans have tried to repeal and replace the Obamacare. But still, the Affordable Care Act or ACA still remains. You must know that Obamacare is self-generating when it comes to the responsibility of paying for it. It does not add to the national debt, contrary to what others think. This has lessened the health care costs and has provided better health care services for the society. Most people believe that the healthcare needed this change since it was becoming too expensive for consumers.
How Obamacare reduced the healthcare costs is a question for most. First, you will need to have an insurance for nine months, then the parents will also be able to include their children who are up to 26 years old to their plans. This has resulted in younger, healthier people paying the premiums but is not actually using the service. This added profits to insurance companies and people are able to save money out of this.
Why is Obamacare Important?
Obamacare is focused on two important goals; to expand the health insurance and to change how the federal government pays the doctors and healthcare providers. When the expansion happened, more and more people receive better healthcare services. There is also a dramatic increase in the number of insured individuals because of the expansion of Medicaid, the creation of the insurance exchanges where the online access like the Healthcare.gov let Americans shop for their coverage, and also the individual mandate where you would need to buy a plan or you will pay a tax.
Who is Eligible for Obamacare?
The insurance that the Americans get with Obamacare is from three different sources. One is from the Medicaid expansion, the others are from the new health insurance marketplaces, and there are also other plans that employers offer to their staff. More employees now have insurance at work than they ever did before the health care law insurance expansion began.
Obamacare did not really do a big change when it comes to coverage that is sponsored by the employer. Somehow this has prompted previously-insured people to buy insurance plans through their jobs. The Medicaid grew by millions in different states where the program was expanded. And in the individual market, many used the government subsidies to purchase their plans through new marketplaces.
