Perspectives Concerning Obama Care
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Introduction
Obama care is an iconic change in the health sector enacted by the 111th state of the US congress to optimize cost and build an efficient system (Béland et al., 2016).
Benefits
It has encouraged job mobility and entrepreneurship. People with preexisting medical conditions often had a problem with health insurance coverage due to the unaffordable prices or refusal by the insurance companies. Obama care has banned discrimination of people with such conditions and therefore has granted access to health insurance to all. People are thus sensibly building their careers for they can retire when they want and find jobs that are best for them. The situation thus leads to an increase in overall income and productivity in the economy.
From the instant when the ACA got introduced in the United States, back then in 2010, the country has experienced a drastic fall in the health care costs. This involved reductions in excess payments to medical providers and private insurances. In addition to this, new innovative payment methods have gotten deployed. Consequently, citizens have experienced quality care. It has come in handy with premium paid reduced health insurances. Reduction in health insurance has increased the wages of workers.
Demerits
There was an increase in tax rates as individuals and self–employers got a tax credit to buy to raise revenue for the reform. The same purpose caused high costs health plans to get imposed by an excise task. This reduced income to pharmaceutical companies and some high-income families causing a reduction in the overall productivity of the economy.
Statistics have it that most of the adults who did not have health insurances remained uninsured because costs of coverage were too high. These adults did not have access to health services. It is questioning and not straight forward to how the government conducted this process. Is it reflected in helping the citizens or instead of their investment?
References
Béland, D., Rocco, P., & Waddan, A. (2016). Obamacare wars.
