What is The Obama Care Bill? You may never have heard of the Patient Protection and Affordable Care Act of 2010, but you probably have heard of Obama Care. They are, actually, one and the same! You have also probably heard a lot about Obama Care in the news, with people on both sides of the political fence arguing pros and cons. But what is Obama Care, really? The short answer is that Obama Care is an attempt by the federal government to get health care costs down and to make sure that as many Americans as possible have access to it. Not all of the parts of the Obama Care law take effect at the same time. This is to ensure that the health care infrastructure can handle the massive influx of newly insured people and to make sure that there is funding in place to cover all of the necessary medical services. Here are just a few of the things that Obama Care is going to attempt to do: Expand Medicare and Medicaid by raising the income limitations so that more low income people will have access to both programs. Create a “pool” of approved insurance carriers to offer low-cost health insurance policies to low and middle income Americans who will not qualify for Medicare or Medicaid. Make it illegal for any insurance company to refuse new coverage to anyone based on a preexisting condition. Make it illegal for any insurance company to drop a policy holder who incurs expensive medical bills due to an illness or injury. Make it possible for children to stay on their parents’ insurance policy until the age of 26. Obama Care is also going after those who commit fraud in the health care industry, especially those who are costing the nation’s public healthcare plans, Medicare and Medicaid, billions of dollars a year. Unnecessary treatments will also be curtailed as waste is cut from Medicare and Medicaid as well. You may ask yourself how the government plans to pay for these things. The answer to that isn’t simple either. Though there will be no huge tax increases, along with the money saved from reforming Medicare and Medicaid, there will be some taxes assessed against capital gains. There will also be a 0.9% Medicare tax hike and a 40% excise tax on healthcare plans whose premiums cost more than $10,000/year – those “Cadillac” insurance plans you keep hearing about. This entry was posted on August 5, 2013 by admin.
Posted on: Thu, 10 Oct 2013 14:51:57 +0000
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