Obamacare is a hot topic up for debate and not only with the republicans and democrats. There are many people in America that feel the Patient Protection and Affordable Care Act of 2010, has done more to hurt American citizens than it has to help them. On the other end of the debate are the Americans that feel the plan is working well and should remain. Below you will find a list of the pros and cons of Obamacare revealed so that you can make an informed decision on your own.
Pro: Lowers Overall Health Care Costs
The biggest advantage of Obamacare seems to be the lower overall health costs. It is said to do this by providing insurance for millions of Americans and making the care that prevents serious illnesses free. This cuts down on overall health care costs by treating problems before they become serious enough to land you in the emergency room where the cost of care is extremely expensive.
Con: Loss of Company Sponsored Healthcare
It is estimated that from three to five million people lost their company sponsored healthcare due to the Affordable Care Act being put into place. Many businesses decided that paying the penalty was cheaper and decided their employees would be better off purchasing their insurance plans on the exchange, which cost many people the health insurance coverage through work that they had been happy with for years.
Pro: 10 Covered Essential Health Benefits
The ACA, Affordable Care Act, mandated that all insurance plans cover what is considered to be the 10 essential health benefits. These benefits include addiction, chronic diseases, and treatment for mental health issues as well.
Con: Private Health Insurance Canceled
Many insurance companies found that they couldn’t afford to cover the 10 essential health benefits and canceled many of their plans. For those who lost their private health insurance it came at a high cost to get the insurance replaced.
Pro: Children Covered Until Age 26
One of the major advantages to Obamacare is the fact that children can stay on their parent’s insurance policy until the age of 26. As of the year 2012, more than three million uninsured young adults were put back on their parent’s policies, saving themselves and insurance companies money.
These are just a few of the pros and cons associated with Obamacare and what it has done for or to America, according to your stance on the issue. Do your research, weigh the pros and cons carefully and then make an informed decision of your own. {Source: www.TheBalance.com}
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Jennifer Coburn, STAT’s Director of Marketing, is a U.S.-based, national provider of credentialing, payor enrollment, rate negotiation, and other credentialing related services.