With the Affordable Care Act rolling around the corner, I am a bit skeptical as to how far some of these benefits go.
Don’t get me wrong. Having this pass will provide insurance to millions, whether they want it or not, and, ideally, help curb the growth in healthcare spending.
But is Obamacare really concerned to how much Americans will be paying as a result of this new insurance or are they just concerned with the idea of everyone having health insurance?
Come Oct. 1, those who are uninsured and underinsured will have the opportunity to accept this new health insurance and reap the same benefits as those who already have insurance.
That’s great for them, but what does that mean for those families who pay taxes—especially the lower and middle class?
More taxes! Simply stated, to make up for the added health coverage being provided for millions, the already-too-high taxes will only increase.
Not only will taxes increase, but the insurance premiums will also rise due to the insurers having to provide covered services. This especially affects those who already have insurance and will most likely affect their deductible as well.
So if you are a young, independent with insurance, Godspeed because your current plan will most likely change, having you pick a new one, which will make things even pricier for you.
“Well, if prices go up, then I can always get another job that is full-time to help me pay for it all,” said no one ever.
Or, at least, you can’t say that anymore. Another result of Obamacare will be the reduction of full-time jobs available.
Businesses that have more than 50 full-time employees will now have to provide them health coverage. And what’s an easy way to escape spending more money? Get rid of the problem.
That is, essentially, what most businesses will be doing, putting people out of a job that really need it, ultimately affecting their total income and the economy itself.
Sometimes I hear people say ‘it’s better to not have any insurance at all because it’s cheaper that way.’
Although that might be the case for many today, that will also change in January 2014.
As stated in “Dramacare” by S. David Ramirez on page one, the Internal Revenue Service will apply a penalty against anyone that is not insured in 2014; it will either be $95 per person for that year or 1 percent of their yearly income, whichever is greater.
According to healthcare.gov, this fee will increase every year. By 2016 the fee will increase to 2.5 percent of that person’s income or $695 per person, whichever may be higher.
So someone who decides to pay these fees in the years to come will not get any health insurance coverage and will remain responsible for 100 percent of the cost of their medical care.
For those of you who are uninsured now but are planning on getting affordable care next week, may the odds be ever in your favor.
Although there can be many downsides to this new act, including the ones mentioned above, there is a silver lining.
According to whitehouse.gov, those who are uninsured and obtain affordable care will not be turned away due to preexisting conditions. Now called the Pre-Existing Condition Insurance Plan, this insurance coverage is for those who have been uninsured due to the preexisting conditions.
Insurance companies will have to cover recommended preventive services, such as pap smears and new baby care.
The uninsured-turned newly insured will also be given a choice of who they want as their primary care provider, which will be based on their plan’s network of doctors.
TL;DR (reddit.com lingo for too long; didn’t read) The affordable care act will benefit those without insurance now who plan on getting insurance after Oct. 1 and it may be a detriment for those who already have insurance.
Lorain Watters may be reached at [email protected].
