Pros And Cons Of Affordable Care Act

The Patient Protection and Affordable Care Act (PPACA), also known as Obamacare was signed into Law in 2010. The act claimed to provide affordable health insurance coverage for everybody living in the United State of America. The act was also put in place to protect people from insurance company’s strategies that could rise people costs or restrict care. In today’s world, despite all the benefit of the ACA, there is an on-going debate regarding the affordable healthcare act. Some people believe that the ACA should have been kept in place and reinforce, and others not.

The Affordable Care Act is a United States federal statute put in place by the 111th United State Congress and signed into Law by the President Barack Obama on March 23, 2010.

According to the Balance, one of the biggest benefit of the ACA is that it slows the rise of health care cost. It does this by providing insurance for millions of people and making preventive care fee. In 2016, the cost of health care services rise by 1.2% for the year, in contrast of the increase of 4% in 2004. Obama care also requires all insurances plan to cover at least 10 essential health benefits. These include treatment for mental health, addiction and chronic diseases. These patients can be the most expensive to treat, which is why most insurance companies try to avoid these types of

Insurance companies used this to contain costs to $1 million per year. Beneficiaries who exceeded that limit had to pay 100 percent of costs. This Act also allows children to stay on their parents’ health insurance plans up to age of 26. According to Healthline, more than 16 million Americans obtained health insurance coverage within the first five years of the ACA. Young adults make up a large percentage of these newly insured people. This increased profit for insurance companies. Obama care also mandates Business with more than 50 employees to offer them health insurance, because they receive tax credits worth up to 35 percent of their contribution to employees’ health insurance. Non-profits receive a 25 percent credit. Employees receive a uniform summary of benefits, and a 60-day advanced notice if anything changes in their