HLTH - 556 DB 6 - Urgently Required. 12-16 Hours. Need A + Work

The Affordable Care Act (ACA) was passed in 2010. The ACA was implemented to help cover individuals who fell into the “coverage gap.” ACA expansion effected many individuals. For instance, many young adults from between the ages of 19 and 25 became eligible for insurance, through their parent’s insurance. The ACA established new national standards for private insurance sold to small groups and individuals. Secondly, the ACA created new private insurance marketplaces. Finally, the ACA expanded Medicaid eligibility, which provided many individuals with health insurance (Hamel et. al., 2014). 

However, one must look at the influence the ACA has had on healthcare prices. For many,  the dramatic increase in healthcare prices was a surprise. Kantarjian (2017) notes the significant change in costs. For example, before the implementation of the ACA, healthcare price increases were lower than the cost increases under the ACA. At the same time, under the ACA insurance companies spend between 80 and 85% of revenue on healthcare. Additionally, Medicare spends 97% of revenue on healthcare. This drastically contrasts the figures prior to the ACA. Health insurance companies normally spent between 50% and 60% of revenue on healthcare (Kantarjian, 2017). In addition, the ACA effected federal subsidies. As McLaughlin and McLaughlin (2015) noted, that under a private market approach to Medicare and Medicaid, private insurance companies were subsidized to offer Medicare Advantage plans. However, under the ACA federal subsidies for Medicare Advantage plans decreased (McLaughlin & McLaughlin, 2015). 

One must also note that many individuals who signed up for “Obamacare”, were not fully aware of every aspect included. For instance, many individuals who received coverage were not familiar with terms like co-pays, deductibles and premiums (Huntoon, 2014). With all of this in mind, I do not think I can fully support the ACA. It is a great idea, in theory but many aspects like the costs truly hinder its success. Individuals who will be covered under the new policy should understand the aspects and terminology used. At the same time, the costs for healthcare should be properly managed.

References

Hamel, M.B., Blumenthal, D., Collins, S. T. (2014). Health Care coverage under the Affordable Care Act -- a progress report. The New England Journal of Medicine 371(3), 275-281. Retrieved from: https://search-proquest-com.ezproxy.liberty.edu/docview/1545854049/abstract/4F5C245C937D488FPQ/1?accountid=12085 .

Huntoon, L. R., (2014). Obamacare: fraud, incompetence, confusion, and higher costs. Journal of American Physicians and Surgeons, 19(3), 66+. Retrieved from:  http://go.galegroup.com.ezproxy.liberty.edu/ps/i.do?p=AONE&u=vic_liberty&id=GALE%7CA468141502&v=2.1&it=r&sid=summon&authCount=1

McLaughlin, C. P.; McLaughlin, M. J. (2015). Health Policy Analysis (Second ed.) Burlington,  MA:  Jones & Bartlett Learning.