Affordable Care Act Tax Penalties Essay

The purpose of the Affordable Care Act is to make health insurance more affordable for those who may not have health insurance or those who do, but have little to no coverage. While a vast majority of Americans had health insurance previously to the enacting of ACA, the new law was for people who did not want to buy it or could not afford insurance (Clark J.,

Unlike the middle and poor classes, higher income earners are expected to pay greater sums of money as taxpayers to cover the expenses of treating poorer people. The number of services provided based on this increased payment is greater than what those covered previously received, though the services do not always meet the needs of the persons insured and rarely corresponds directly to the payment made by wealthier taxpayers. For example, the premium for people who are considered living beyond the poverty line is no more than 9.5% of their monthly income (Dunn 70).

The affordable care act was signed into law by president Obama in the year 2010. The aim of the act is to ensure Americans get access to quality health care and at the same time, reform the health care system in order to manage costs. The act has different sections that explicitly explain how this aim would be realized.

President Barack Obama signed the Affordable Care Act, into law on March 23rd 2010. Congress had tried for decades to pass health care reform, beginning with President Franklin Roosevelt. “Following President Obama’s inauguration, he used Democrat control of both the House of Representatives and the Senate to enact health care reform legislation, and granted the federal government control of over 16% of our nations economy” (Taylor 3). The law states that every American citizen is mandated to purchase health insurance. “If you choose not to obtain Health Insurance by January 2014, you will be penalized $95, or 1% of your income-whichever is greater” (Taylor 5). “The penalty rate for non-compliance will

The Affordable Care Act was created to make an attempt to reduce the amount we pay for healthcare. “Healthcare premiums were too expensive for many families to afford,” is a common issue among citizens today, and we have come to the conclusion that Obamacare can help reduce that amount. Ever since this has been put in place, many Americans deny this, but it says that even if you aren’t 100 percent healthy it will still cover you, unlike regular healthcare premiums opposed that. Another benefit that is presented, it that you don’t have to have a high income or good health to be covered, the act says that it will cover you no matter what condition or state you are in.

The Affordable Healthcare Act makes healthcare and health insurance more affordable and more available to more Americans. It is able to do this by new consumer protections, rules and regulations on the healthcare industry. This is shown when creating a marketplace for subsidized insurance, and reforming and expanding public healthcare programs. These include Medicare and Medicaid. This act can also include measures to cut the growth in healthcare spending in the United States.

The Affordable care act was enacted in order to reform the health insurance industry and to make health insurance more affordable and to provide better health care coverage for the citizens of the United States. The Obama administration set out with the goals of: expanding access to health insurance, lower the uninsured rate, and to reduce the costs of healthcare. The focus of the act is to use regulations on the federal and state level to maximize health care coverage for all citizens of the U.S. In this section I will examine the factors that have come to play into the creation of the affordable care act and the back ground

The first main issue that people are concerned with, and that causes confusion, is what will happen to people if they do not get their own health insurance by the time the Act takes effect. In short, they will be fined or penalized (McDonough, 2011). This penalty is seen as

Affordable care act is a law reform for healthcare. It is also known as Obamacare. The goal of this reform was to give access healthcare to uninsured and the people who can’t afford health insurance. There are benefits for the program more people have health insurance and it is affordable. People who are uninsured now have access to health insurance (Kinzer, 2017). The program is teaming up with Medicaid. Medicaid has expanded to help 15 million people that fall under the poverty rate and there is no lifeline on healthcare (Media solutions, 2016).

Once the foundation of the U.S. health care system was reviewed, we began our study of the new regulations. The Affordable Care Act contained three main provisions. The first provision was expanding Health Insurance Coverage. Elements of the regulation included offering coverage to the vast majority of currently uninsured Americans by expanding access to Medicaid to cover all non-elderly individuals below 133 percent of the federal poverty level (FPL), and establishing state-based health insurance exchanges, which will offer Americans a range of private health plan options, with federal tax

The Patient Protection and Affordable Care Act was designed to improve the healthcare and health insurance business in the United States of America. Some of the main focuses of Obamacare is to add new gains for health care, more rights, more security, and making health care more affordable and more accessible to every citizen in the United States.

The primary goal of the Affordable Care Act was to expand health care access to Americans and subsequently reduce the number of uninsured in the nation. From September 2013 to March 2015, there was a significant reduction in uninsured Americans from 17.6% to 10.1% (Anderson, Hempstead, Karpman, Kenney, Long, Shartzer, Wissoker, Zuckerman , 2015). This was achieved through the new laws affecting private insurance and the expansion of the government’s Medicaid program. The ACA started the process by extending tax credits to an estimated 4 million small businesses that would help them provide insurance for their workers in 2010 (Implementation, 2016). In 2013, a marketplace exchange was finally opened for the American people to compare and purchase

The law facilitated spreading of risks among insured individuals, thereby ending the previous state of discrimination experienced in the health sector. Previously, the American citizens had experienced discrimination in areas like gender and health status as well as facing different health care costs based on individual’s age (Manchikanti & Hirsch, 2009). The plan imposes limitations on the previous discrepancies concerning the amount that individuals were being charged. Therefore, all Americans who are in the position to contribute towards the plan should maintain a minimum essential coverage while individuals who cannot afford are exempted from maintaining the coverage. The plan established a marketplace for competitive health insurance enabling many Americans to access group buying, comparing insurance plans as well as receive cost assistance. The other benefit of the Affordable Act is an introduction of stability to the American budget and economy. The available projection predicted a reduction of the budget deficit by around $100 billion within the next decade, after implementation of the plan.

The implementation of the Affordable Care Act (ACA), popularly known as “Obamacare”, has drastically altered healthcare in America. The goal of this act was to give Americans access to affordable, high quality insurance while simultaneously decreasing overall healthcare spending. The ACA had intended to maximize health care coverage throughout the United States, but this lofty ambition resulted in staggeringly huge financial and human costs.

The affordable Care Act implemented in March of 2010 by president Obama reform the way health care was previously run in the United States. The law went into effect, which allowed many Americans who did not currently have insurance and health care coverage to the ability to purchase coverage and access to health care. “ According to the CDC “ the affordable care act of 2010 is designed to provide access to coverage for previously uninsured Americans “ Center of Disease Control (2014).