Abbot, Inc., commonly called 'Abbot Labs' or 'ABT' on the New York Stock Exchange, is engaged in pharmaceuticals and diversified medical products, with $39 billion in sales over 2011 and a market capitalization of over $102 billion (Yahoo! Finance 2012a, n.p.). Abbot claims sales grew 10.5 percent over 2010-2011, delivering cash flow of $9 billion which allowed for increasing dividends the firm claims amounted to $3 billion to shareholders (Abbot, 2012, p. 2). This growth was robust enough the firm is spinning off its pharmaceutical research and production sector while the $17.4 billion line of nutritional, diagnostic, optical, "Established Pharmaceuticals," diabetes and vascular care and "animal health" products will retain the Abbot name (Abbot, 2012, p. 3). Since both sectors were still unified in 2011, the annual report reveals how changes in fiscal policy would affect the consolidated firm although actual results will differ after the spinoff. Direct and indirect government spending would clearly affect the firm's performance as displayed throughout their 2011 Annual Report, demonstrated best in one particular section where they discuss effects of potential new health care regulations in the U.S., but also cuts to government expenditures in European markets (Abbot, 2012, p. 49). While Abbot only briefly mentions the new 2010 government health care mandate upheld June 2012 in most part by the Supreme Court, the reference explains how vulnerable all medical and
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Get AccessHealth System Reform in the United States: Impact of Rising Premiums and Opportunities for System Improvements to Enhance Access to Healthcare Services
“Obamacare”, or the Patient Protection and Affordable Care Act (PPACA), was a law developed to help provide affordable, quality healthcare insurance to everyone and reduce spending on healthcare by the general public (ObamacareFacts, n.d., (5)). Healthcare costs and coverage has been an ongoing struggle in the United States. It came with many new sub-laws affecting healthcare insurance providers and consumers, as well as new benefits to affect current and future healthcare insurances. Obamacare is currently still in effect.
The complexity of health care could take the rates on a massive trajectory that does not favor the people covered. Therefore, the financial protection that the levels of health insurance covers, help to guard against the risks related to the unexpected costs of health care. The source of coverage could still have an impact by the insurance coverage and financing alternatives that one has access to; Conversely, private insurance, social insurance, and the national health services are the types of healthcare systems by funding and provision. As we look to health care coverage and the reform of Obamacare, I’ll analyze the impact of the uninsured in the industry and look for a resolution to improve the
The Affordable Care Act is the new health reform law that was signed into action on March 23, 2010. The Affordable Care Act attempts to reform the healthcare system by providing Americans with affordable health insurance. It helps put individuals, businesses, and families in control of their own healthcare. By the sound of it, it really looks like this is something that will positively impact the lives of Americans, and make it easier for individuals to obtain health insurance. Unfortunately, what many Americans are unaware of is that there are so many underlying issues that make the Affordable Care Act not so affordable. Issues such as penalties and taxes that certainly rack up the cost on individuals, businesses and even hospitals that make it difficult for people and businesses to be in “control” of their health care.
Have you ever noticed that no one actually knows what Obamacare does? People are always talking about how it is evil or how it is amazing, but if you ask people to define what it is, they really can not tell you. All they can do is repeat some small part of it that they critique. I have yet to meet anyone that really understands what Obamacare is, and what it does. That is the question I am going to try to answer with my research paper; what is Obamacare, and what does it do?
Healthcare reform in the United States (U.S.), continues to be a hot topic in the news. Whether it discusses how the program will be financed, the need to redesign the organization, or how the process of delivering healthcare will be implemented; one thing that is a frontrunner, is the need for registered nurses (RNs) and advanced practice registered nurses (APRNs) to fill the increased demands on the primary care system (Institute of Medicine, & Robert Wood Johnson Foundation, 2011, p. 375). “Several programs and initiatives included in the health reform legislation involve interdisciplinary and cross-setting care coordination and care management services of RNs” (Institute of Medicine, & Robert Wood Johnson Foundation, 2011, p. 377).
Healthcare reform has become an important issue with many Americans since the passage of the Patient Protection and the Affordable Care Act in 2010. It took years of fighting and refining the bill before it became law, and it represents the lasting legacy of the Obama administration. The Act will allow millions of Americans who were previously uninsured to gain coverage through expanded Medicaid and Medicare programs or through federal or state insurance exchanges. Although the idea of providing healthcare to those who need it but can’t afford it is a noble one, one major question remains. Who will pay for the increase costs associated with expanding coverage? Health insurance is predicated on the spreading of risk. The young and healthy are used to subsidize the cost associated with the care of the old and unhealthy. Congress attempted to address this by placing within the Affordable Care Act a provision which imposes a “tax” of one percent of taxable income on any American who chose not to purchase insurance coverage with the tax increasing every year up to 2.5% for every year they go without coverage. Despite this provision many young Americans are opting out of health coverage and instead will pay the tax. Younger people are making this choice because the tax they pay will ultimately cost them less than a year’s worth of coverage. Not having the younger population covering the costs of the unhealthy could lead to a “death spiral” because private insurance companies are
The Affordable Care Act was created to assure all Americans have access to affordable insurance, but as stated by Sir Isaac Newton for every action there’s an equal and opposite reaction. As more and more people become insured in this country, the for-profit insurance companies are reaping the benefits from the legislation of the Affordable Care Act.
During the formation of the United States of America, the founding fathers had difficulty to agree on common issues due to their conflicting political stances. The intention of each political party is to form a solution that is in the best interest of the citizens in the U.S and of how to govern the US following its independence from Great Britain. It is safe to conclude that some Americans base their decisions on family affiliations rather than viewing each economic, social, and political problem differently to make an informed decision. The presidential nomination of then Senator Barack Obama marked the country's breakthrough in recent years during the 2008 election. Trends showed favoritism among the young, college-aged population when he ran for office his first time. He won their votes, along with other voters, based on general social and economic proposals he intends to solve. During the President's first and second term, his administration seeks to resolve the healthcare concern, a major political and economic problem, which is causing the country's deficit to swell. On March 23, 2010, President Obama (Whitehouse.gov, 2014) signed the Patient Protection and Affordable Care Act (PPACA), commonly known as "Obamacare," into law. Unfortunately, the United States of America have not come to a unanimous agreement about Obamacare. All together it seems not every person will approve every presidential decision in the country, but Obama’s health care act has sparked some more
In my view The Patients’ Choice Act that was introduced by Paul Ryan in 2009 would have been a better choice for the new health care reform than The Affordable Care Act. Even though there is no health care crisis of the uninsured, Ryan’s plan involved incentives for prevented care that could lower cost of premiums and encourage healthier lifestyles. Under The Patients’ Choice Act, the American people retain their freedom whether to have health care or not; however the ACA has a personal mandate that requires individuals to carry health care insurance or face a fine (tax). Ryan’s plan would have ensure universal affordable health care for all Americans without increasing government spending.
In my view The Patients’ Choice Act that was introduced by Paul Ryan in 2009 would have been a better choice for the new health care reform than The Affordable Care Act. Even though there is no health care crisis of the uninsured, Ryan’s plan would have involved incentives for preventive care that could lower the cost of premiums and encourage healthier lifestyles. Under The Patients’ Choice Act, the American people retain their freedom whether to have health care or not; however the ACA has a personal mandate that requires individuals to carry health care insurance or face a fine (tax). There are consequences when people feel they have a right to health care instead of working for it. Ryan’s
Despite the responsibility of healthcare being a power of the states, the national government created a market for privately owned businesses to provide insurance under an umbrella known as “Obamacare”. Obamacare was primarily comprised of the Affordable Care Act, or AFA. The Affordable Care Act, created by the Obama Administration, was passed in March 2010 under the premise that healthcare should be more available to American citizens. These target citizens being the over 50 million who were uninsured for various reasons before the passing of this legislation. They were able to do this by expanding the affordability through various regulations, taxes, subsidies, and other
When it comes to the constitutionality of the individual mandate many of the bills supports will look to the commerce clause and seek justification for its passage. This portion of the debate is not just about health care, but instead about the scope and power of the federal government; if the courts decide that the individual mandate is constitutional and therefore grant the federal government the power to force citizens to buy a product from a private company in order to 'protect them ', then the existence of the constitution will become negligible. Before the adoption of the constitution the states were reluctant to ratify it on the basis that they felt that it might grant too much power to the federal government to which James Madison, the writer of the constitution, wrote "The powers delegated by the proposed Constitution to the federal government are few and defined. Those which are to remain in the State governments are numerous and indefinite" (Federalist Papers #45). The reasoning behind the constitution is to limit the power of the federal government not to grant it the complete control over the lives of all citizens. Supporters will make an argument that people are forced to buy auto insurance and so there should be nothing stopping congress from
Healthcare legislation in the United States has been a hot topic for many years now, and the introduction of the so-called "healthcare law has" only invigorated that. While it is important for a healthcare professional to understand the impact of the larger healthcare law, it is also important to know how other bills before Congress impact patients and the economy as a whole. One such bill under consideration by the United States Senate is S.27 designated that "Preserve Access to Affordable Generics" Act (this was previously designated S.369 (Policy and Medicine, 2011)). The goal of this paper is to examine this bill as to economic impact, equity, administrative resources, and the role of the nurse.
The Affordable Care Act (ACA) has brought big changes to America’s citizens and its economy. There are many advantages and disadvantages to the system, although you hear about the bad more than the good. According to Obamas administration’s latest estimates, 16.4 million Americans that formerly did not have health insurance, now are covered under a plan. Before the ACA took effect, 47 million Americans were not covered under any sort of health care plan.