Pros and Cons of Obamacare - 1693 Words

Obamacare Controversy always surrounds change. Healthcare is this kind of controversial topic where people refuse to accept changes, even though changes must be made. Obamacare details many changes, how they will be made, and whom they will affect. As with any bill, there are pros and cons that exist as the bill helps many, but makes some a little worse off. Taking into account the pros that include the minimum benefits package and expansion of Medicare coverage as well as the cons that include rising costs to government and a shortage of doctors, I would vote against the bill. Obamacare is an extensive bill that completely transforms the healthcare system. The main part of the bill is the individual mandate that requires all†¦show more content†¦The new policy will make the insurance companies pay for 75 percent of the drug expenses and leave the consumer to pay 25 percent. However, when the drug expenses reach the catastrophic threshold of more than $5,100, then the insurance Medicare will pay for 95 percent of the drug costs. The government has already started to try and close this gap by subsidizing those who fall into the donut hole. Each year they will slowly increase the subsidy until the consumer only has to pay 25 percent. By addressing the donut hole that has occurred in the current health coverage Americans will be better off and no longer face drug expenses that they are unable to pay (Goldstein 2010, 113-121). However, the major changes come with huge monetary costs. Even with huge increases in taxes the government will not be able to pay for it. Obamacare requires all businesses to provide insurance; if the business chooses not to they must pay a penalty. The quantity of the penalty is less than the cost of insurance; so many businesses opt out of providing insurance plans. If employees do not receive insurance through their workplace, they must buy insurance plans on the exchanges. The plans provided on the exchanges are heavily subsidized in order to make sure that they are affordable for the average American. When more Americans buy from the exchanges the government must provide more subsidized plans, creating a huge expense for theShow MoreRelatedThe Pros and Cons of Obamacare763 Words   |  3 PagesTHE PROS AND THE CONS OF THE AFFORDABLE CARE ACT (OBAMACARE) The Affordable Care Act, commonly known as â€Å"ObamaCare†, is national health law which provides mandatory health care coverage to Americans who do not have or cannot afford health insurance coverage. Under this law, provisions and a new Patient’s Bill of Rights, this provides Americans the ability and stability to make informed choices about their own health. The law was enacted and signed into law by President Barack Obama on March 23rdRead MoreEssay on The Pros and Cons of Obamacare1721 Words   |  7 Pagesgeneric in terms of coverage. Some of the questions that I have that I believe will aide me in writing this paper would be the following: What are the pros and cons of Obama Care? What are the thoughts of Obama Care with the people of the government? As well as what are the basics of Obama Care? What is Obamacare? Describing What Obamacare is. What is it for? It is call the â€Å"Affordable Healthcare Act,† to make it affordable for everybody in the United States to afford doctors, hospitalsRead MoreThe Affordable Care Act ( Aca ) Or Obamacare?1655 Words   |  7 Pages The Pros and Cons of the Affordable Care Act (ACA) or Obamacare? Who Benefits and Who gets Hurt? 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