How would you feel if someone told you to buy something you don’t want? That is what President Obama has done with the Affordable Health Care Act also called ObamaCare. Although ObamaCare says it will provide affordable health care for more Americans, which it will. Only Americans making under 400% of the federal poverty level (FPL) will qualify for cost assistance subsidies. Those barely above the poverty level who already have cheap limited coverage that were benefiting saw premium hikes go up in 2014. A new study from the well-respected National Bureau of Economic Research says “In 2014, premiums in the non-group market grew by 24.4% compared to what they would have been without Obamacare.” In March 2010 Obama signed the law and this allowed …show more content…
An exchange is a new insurance marketplace where individuals and small businesses can buy health plans that meet benefits and cost standards. Members of Congress will be getting their health care insurance through exchanges, too. (http://www.aflcio.org)
One main objective for Obamacare is to ensure that you can not be dropped from your current policy coverage if you get sick or make a mistake of the application. Women cannot be charged more simply on the fact they are female. Companies also cannot increase your rate dramatically. The problem with not being able to drop a client or raise there individual premium is how the insurance company will come up with the extra money. Thus they will have to increase the cost of everyone’s insurance, even the ones not receiving subsidies.
Medicaid has juristically expanded up to 16 million men and women that fall under 140% of the federal poverty letter. Another 5 million are still left without coverage. Expansion isn’t always good. Medicaid expanded using federal and state funding. Medicare has kept rates down for seniors and has cut down on wasteful