December 11, 2017

 

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What is Obama Care (Healthcare Reform)?

Almost everyone in the United States has heard of Obama Care, but many are unclear as to exactly what Obama Care actually entails. Obama Care (also known as the Affordable Care Act) is a nationwide law that focuses on reforming the national health care system. Obama Care is the unofficial name for The Patient Protection and Affordable Care Act that was signed into law on March 23, 2010 by President Barack Obama. The primary objective of health care reform is to provide healthcare coverage for all (currently uninsured) Americans universally and to decrease the costs of health care services and coverage.

Who does the Patient Protection and Affordable Care Act primarily affect?

The Patient Protection and Affordable Care Act almost exclusively affects uninsured Americans and those individuals that do not like the insurance coverage they have access to through their employer.

What are some of the main goals of Obama Care?

Some of the goals for Obama Care are the following:

  • Providing more Americans with access to affordable health insurance
  • Provide healthcare coverage for all (currently uninsured) Americans universally
  • Improvement in the quality of health care and health insurance
  • Regulate the health insurance industry
  • Reduce Healthcare costs and spending in the US.

What are some of the important aspects of the Healthcare reform Law?

Important aspects of the law include:

  • Obama Care contains cost reducing provisions to reduce the growth of Medicare spending and Healthcare costs in general.
  • Aim of Obama Care is to improve quality of care for all Americans by providing better preventative and wellness care to raise standards of basic health care coverage.
  • Obama Care eliminates pre-existing conditions and gender discrimination so that no individuals can be charged more or can be dropped from their health insurance coverage for health or gender reasons.
  • Obama Care aim is providing discounts through the Health Insurance Marketplace.
  • Obama Care ensures Healthcare coverage to any legal US resident who cannot currently get quality Healthcare through their employer so that access to health care is no longer dependent of health insurance companies.
  • Obama Care gives American employers with over 50 full-time equivalent employees choices of providing insurance that meets Obama Care standards or are required to pay a penalty.
  • Employers with less than 25 full-time equivalent employees may qualify for tax credits and other assistance for insuring employees through the Health Insurance Marketplace.
  • Obama Care can protect individuals from being dropped while sick, denied care due to lifetime limits, denied care for pre-existing conditions, and offers Americans a better legal standing against health insurance companies.
  • Only those individuals who make $200,000 or $250,000 as a family or small business are exempt from almost every tax Obama Care levies aside from the mandate to obtain insurance.
  • Obama Care expands Medicaid to uninsured low-income Americans.
  • Allowing children to remain on their parent’s insurance plan until they are 26

The sheer numbers of newly insured individuals in the US will most certainly drive the need for Healthcare managers as well as all other areas of the Healthcare system.