The Affordable Care Act, Part 2, the Money Angle


(Author’s Note: Over the last week or so I have read at least 20 articles from many sources about Obamacare, or the Affordable Care Act, or the ACA, whatever you want to call it. Every article that I found against it, so far, had no documented sources, I have no idea where their facts came from. That is a very old tenet of journalism, I learned it at 16 in my newswriting class, you have to have sources, you have to be able to back up your facts, if not it’s just one person’s opinion, not news.)

Many people have legitimate concerns about what the Affordable Care Act will mean to them, their families, and their pocketbooks. There are already changes happening in healthcare, there are scare tactics everywhere, and some insurance companies are rapidly dropping clients while increasing rates while employers are cutting hours to have less full-time employees, something that does not make sense, employer mandated insurance will not take place until 2015 due to political squabbles.

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If you do not have insurance there will be a penalty, if your income is so low that you cannot afford one it will be waived. No family will pay more than $285, $95 for an adult, usually the fine will be 1% of your income. The Commonwealth Fund reports that in America 80% of people live in a state where insurance is more than 20% of income. The national average is 14% of income is spent on health insurance. The frequent rise of insurance premiums has wiped out income gains over the last ten years, whatever raises people do get goes to health insurance.

The biggest fallacy is in those who believe they should not have to pay taxes for other people to have healthcare, we already are. There are thousands of people who cannot afford to pay their medical bills in America, hospitals and clinics cannot afford to stay solvent without that money, a direct result is increasing costs of healthcare to cover that deficit. More people eligible for insurance will help healthcare’s skyrocketing costs to even out.

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The ACA has already saved those with insurance over $1 billion, insurance companies are now required to spend 80% of people’s hard-earned insurance dollars on healthcare, if they do not, they have to pay it back to the policy holders in the form of rebates. The bill is stopping random rises in insurance costs as well, rising costs must have an explanation.

Some people are still confused about how much insurance will cost, many do not have insurance because they cannot afford it and are scared that it will be just one more mounting bill. The fact is, if you make 400% of the federal poverty level for income, or $94,000 for a family of 4, $45,000 or so as an individual, you will qualify for assistance to meet your insurance requirements. If you can’t afford it, the money is already there for that. The funding is in place, you will not lose your home because you can’t afford insurance, that is exactly why this was made into law, to protect you, your family, your stuff, and your health. Good health is worth a lot, don’t underestimate it.

Women usually have more expensive insurance than men, the ability to give birth is most of the reason for that, with the ACA that will no longer happen, women do not have to pay more for being female, and preventive care is already starting to be covered, mammograms and pap smears for example.

If you have a terrible health history you can still get affordable insurance, for any sick person that is wonderful news. You cannot be turned down and your rates will be the same as anyone else’s. Often people are saying they are healthy, they don’t need insurance, that can change anytime. People are injured, children have accidents and break arms or legs, adults have accidents and can’t work for 3 months, people get diseases, what then? Not losing your house or your car, not anymore, thanks to the ACA.

 

Sources: http://www.webmd.com/health-insurance/20130903/7-surprising-facts-about-obamacare

http://www.vanityfair.com/online/eichenwald/2013/10/truth-obamacare-already-insured

http://www.webmd.com/health-insurance/20130903/7-surprising-facts-about-obamacare

 

 

 
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