A distinct advantage of PPACA (Patient Protection Affordable Care Act) is the greatly reduced number of uninsured individuals. This is a qualitative component that will further spread the risk of healthcare across a large pool of payers and simultaneously help keep medical services at a competitive price. Most directly, is the government imposed individual mandate that requires everyone to have insurance. Those who do not comply will face a fine. However, if there is a legit reason that attaining healthcare insurance is out of your means the government will provide a fee waiver. Medicaid has also been expanded, though on an individual state by state basis. States who choose to expand their Medicaid programs will have significant federal contributions. Specifically targeting young adults, the affordable care act includes provisions that allow young adults to stay on their parent’s health insurance policy until the age of twenty-six; directly resulting in a higher number of insured healthy, young people. More to consider is the imposed regulations on employers. If a company employs more than fifty, then they must provide health insurance to the workers. Those who do not comply will face a hefty fine. Smaller businesses will not face such fines and requirements, instead they will be offered tax credits for providing health insurance to employees. As you can easily gather, the Patient Protection Affordable Care Act has significantly reduced the number of uninsured people.
Another notable advantage of PPACA is the extended benefits included in every healthcare insurance policy. Starting with coverage, there will no longer be an option for health insurance companies to deny coverage due to a previously existing condition. Basic preventative services are to be included as standard care in every policy. This coverage will include a variety of services such as a flu shot, lab work, annual physical, and a yearly x-ray. That list, however, is the entire extent of the preventative services provided, but rather a small portion of the care you can expect to be covered. This initiative is a major component in contributing to the transformation of healthcare from reactive to proactive.
Even though there are several positives of the affordable care act, there are also a few disadvantages. Notably, a clear opposition concerns the methods of cost control that enable the expansion of the healthcare insurance system. Individuals with income exceeding $200,000 or couples with an income above $250,000 will pay additional taxes into Medicare. There will also be a ten percent excise tax imposed on tanning, taking away profit and eliminating possible employment in the tanning industry. There will be significant government imposed contributions from the pharmaceutical companies. This provides a platform to pass the cost to customers with higher cost for lifesaving medicine. It is important to grasp the concept that these extra services are not free, resulting in higher taxes imposed on at least part of the population.
A particularly compelling disadvantage is the increase in costs that young adults will incur. Both traditionally and logically, young individuals ranging from ages eighteen to late twenties have been known to be healthy both physically and mentally. With this in mind, is it fair to raise the cost for a population who will use less services? My first reaction would definitely agree that the Personal Protection Affordable Care Act is unjust and does not serve to protect the interests of young adults. However, if you look further into the wording of this legislation you will discover some methods which work to counteract this bias cost increase. Most predominant is the option to remain on a parent’s health insurance plan until the age of twenty-six. This helps reduce overall cost during the beginning of adulthood and could potentially propel a stable lifestyle.
Upon reflection, I know that I support the Patient Protection Affordable Care Act as it works to serve the population as a whole. This is not saying that we have a perfect plan in place but rather a working system with highly motivated, strong intentions. As a person of the United States it is highly advisable to better understand the impact that this legislation has had on improving the quality of your healthcare.
Sources:
Amadeo, Kimberly. “10 Obamacare Pros and Cons”. Thebalance.com. 4 October, 2016. Web.11 November, 2016.
“Youtoons Get Ready for Obamacare”. Kff.org. Kaiser Family Foundation. 17 July, 2013. Web.11 November, 2016.
