Affordable care act
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Affordable Care Act
The Affordable Care Act was introduced with the aim of cutting down the health care cost by making health insurance more affordable for all American citizens. The ACA components targeted the American citizens majorly without health insurance coverage and those that own an insurance cover that did not adequately cover some of the high medical expenses. According to Affordable Care Act (n.d.), the act introduces subsidies in the form of premium tax credits in the healthcare sector with the aim of reducing the cost of healthcare for the group in the society that earns income ranging between 100% and 400% as per the poverty statistics of the federal government. The act was also to stretch the Medicaid program to everyone above 18 years old, living within the 138% poverty level national mark. Lastly, the plan was to offer incentives and support any medical care delivery techniques that reduced the cost of healthcare delivery.
Despite the positive impact of the act on the health care system, there are several challenges brought about by its implementation. The increasing number of people that the insurance companies have to manage healthcare costs has resulted in a decrease in the profit margins of the companies. Furthermore, the healthy citizens and the young adults in the country have been disadvantaged by the tax penalties since the act forces them to pay for the insurance cover even when they are not in need of it.
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Furthermore, the option of whether to expand the Medicaid program to the low-income families, as per the ruling of the Supreme Court in 2012 result to most states denying the needy families the privileges of the Medicaid Act. As a result, still, the country suffers from health disparities will millions of its citizen being limited to few and expensive coverage options.
Even though healthcare reforms have previously been done on the act, it still faces the challenge of insufficient subsidies and lack of proper regulation policy that will ensure health disparities are entirely erased in the country. The law is still in need of further reforms that will ensure that the working families are part of the marketplace tax credits. In this case, Jost (2016) states that approximately 4.7 million citizens will be able to receive the subsidized ACA. Other reforms such as expanding the scope of the Advanced Premium Tax Credit program will increase the number of families able to access the assistance from the ACA. By reducing the cost-sharing and the out of pocket limits in addition to improving the minimum coverage requirement for employees will ensure that the employees throughout the country have access to better coverage from the employee coverage program. As a result, health care will be affordable to a large number of people.
References
Affordable Care Act (ACA). (n.d.). Retrieved June 20, 2018, from https://www.healthcare.gov/glossary/affordable-care-act/
Jost, T. S. (2016, August 25). Key Proposals to Strengthen the Affordable Care Act. Retrieved June 20, 2018, from https://tcf.org/content/report/key-proposals-to-strengthen-the-aca/?agreed=1
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