Health Insurance : The Patient Protection And Affordable Care Act ( Aca )

The Affordable Care Act is considered to be a landmark legislation that sought to bring changes to overhaul the health care system within the United States. While the ACA has brought necessary improvements and changes to how health care is handled, it has also directly affected many stakeholders within the health care industry. The major stakeholders of health care are considered to affect each and every aspect of the massive industry, and can be influential. This paper will be specifically addressing the effects of the ACA on the employer stakeholder group. It will talk about the new responsibilities and taxes employers must face, how the ACA is currently affecting employers at the moment and into the future, how the employees and their dependents will be affected by these changes, and finally what strategies employers can take to mitigate

The term “individual mandate,” as a component of the Affordable Care Act, is a mandatory requirement according to which the majority of people in the United States has to have some kind of health insurance. Most specifically, according to the fundamentals of this regulation, any individual who can afford a health insurance policy, but chooses not to do so, will have to pay a fine. Prior to the existence of the individual mandate, health insurance companies had the choice to reject people with health conditions that would potentially incur high costs. Because of this reason, a significant number of people did not have any health coverage. In order to maintain insurance premiums reasonably steady and sustain government cost balanced,

According to David Nather’s The New Health Care System: Everything You Need to Know, in 2009, 8% of premiums went to cover the uninsured (pg.38). To alleviate that problem, the Affordable Care Act created the individual mandate, which requires everyone to get health insurance. The idea is that the mandate will force healthy people to get insurance, which will then subsidize the sick and the old. If people do not get insurance, then they will pay a fine to the government. If you cannot afford health insurance then you can apply for an exemption. The new decree does not allow insurance companies to deny coverage and they cannot charge you more if you are sick. The law

The Affordable Care Act (ACA) added to the Social Security Act has increased the financial accountability of healthcare organizations for preventable readmissions. Hospitals have increased their awareness and are looking for system ways to assist in the reduction. The Centers for Medicare and Medicaid Services (CMS) have initiated a process for decreasing the reimbursement for readmitted patients within a 30-day period. CMS identified readmission measures for applicable conditions of acute myocardial infarction (AMI), heart failure (HF), pneumonia and in 2015 chronic obstructive pulmonary disease (COPD) and hip and knee replacement which are included within the measurement to calculate the readmission payment adjustment for

The Affordable Care Act enabled more people to obtain health insurance, thus receiving healthcare. This offers a larger variety of people to obtain healthcare, in particular, those who cannot afford it. However, this also increased the stress on a fragile healthcare system with limited professionals and has arguably made a push for a refined method of how to provide and extend care to millions of Americans. The access to healthcare and requirements to have health insurance from 2010 to 2014 have grossly changed. In 2010, if someone did not want healthcare, they did not have to get it, but in 2014, there was a fine established if one refused to buy health insurance. At that point, the fines would cost one more annually than actually buying

The Affordable care act (ACA), all so known as Obamacare, was signed into law on March 23, 2010. The ACA said that every taxpayer must have health insurance, if they have not enrolled by the deadline they will face a penalty of having to pay for not having health insurance. People were told that with the ACA that health insurance would be more affordable and for some it did but for others it changed what they already had and they can no longer afford to have insurance. Ilyma Somin wrote that because of the Commerce, Tax and the Necessary and Proper Clause because basically they say that ACA offers economic effects in some way or another (Somin, 2012).

The individual mandate is the base of the Affordable Care Act which requires all Americans to obtain health insurance. The fine for not having health insurance would be taken out of your income tax for every month health insurance is not obtained. Sadly, there is only a small window for signing up for this health insurance. There is a certain open enrollment period in which people must sign up by, or they would have to wait until the next period. This means, if a person were to miss the enrollment period, they would have to suffer the fine for the next consecutive months until the next enrollment period. Since 2014, the fee has risen each year. Therefore, Americans who struggle enough to live and couldn’t afford the “affordable” health care would suffer greatly due to the increased fines. An article published by a mix of doctors from across the country shows how these fines are imposed. “There are financial penalties in the form of a new tax on individuals who fail to buy health

The Patient Protection and Affordable Care Act establishes new requirements for health plans and insurers changed in order to expand access to affordable coverage, and prevent individuals from losing certain coverage. New coverage insurance market regulations will prevent health insurers from denying coverage to people for any reason, in which their health status, and charging people more based on their health status and gender. These new rules will also require that all new health plans provide extensive coverage that include at least a minimal set of services, caps annual out‐of‐pocket spending that does not impose cost‐sharing for preventive services, as well as no impose annual or lifetime limits on coverage. For example, new insurance market regulations within private insurances allow young adults are able to stay in their parents health insurance up to the age 26. Once an employee has reached age 26 they have to upgrade from their parents insurance plan to defendant coverage plan eliminating annual and lifetime limits on coverage such as rescissions and waiting periods within 90 days. Health insurers will be prohibiting from placing an age limit to their coverage in case of fraud. Large employer that offer coverage plans will have to automatically places employs in to a low cost premium plan if the employ sign up or exit out of coverage. Overall health plan premiums will be able to vary based on an age, geographic area tobacco

The Affordable Care Act (ACA) was enacted in March, 2010. The purpose of this law is to reform public and private health insurance systems resulting in expanded coverage for millions of Americans by the year 2023. Full implementation of the Act, will result in a reduction of the number of uninsured U.S. citizens by more than one-half (Rosenbaum, 2011). The ACA “expands Medicaid eligibility to include all individuals and families with incomes up to 133 percent of the poverty level” (Riggin, 2013).

In the U.S. “Decreasing the number of uninsured is the number one goal of the Affordable Care Act(ACA), which provides Medicaid coverage to many low-income individuals” (Kaiser Family Foundation, 2015, p.1). Despite the success of the ACA enrollment of millions of people with health insurance, the most at risk and pressing group of our population are our children. This is a group that needs our attention and their health should be the country’s number one priority. This is a vast difference from Canada, where every child has health care coverage for life because of its Universal Health Care. Bodenheimer and Grumbach (2013) noted that over the years, “reformers in the United States argued for the passage of a national health insurance program, government’s guarantee that every person is insured for basic health care”(p.187). But this effort was not only defeated time and time again, but it was constantly shoved under the rug. It was not until a great effort was pushed by President Obama that we started to see some changes in our health care system. Still a lot of work needs to be done, especially for our children. Stronger measures must be implemented to make sure that every child has an opportunity to live a long and healthy life. This is especially geared towards children living in rural areas, “where access to health care is especially low or non-existence” (Rosenblatt & Hart, 2000, p.1).

The purpose of this review is to investigate through journal sources, government data points, and published opinions and experiences aspects of the Patient Protection and Affordable Care Act (ACA) as it relates to arguments that the law should be repealed. I investigated the goals of the ACA, changes in care and insurance coverage, impacts on the labor market, and changes in insurance premium rates since the ACA was signed by President Barack Obama on March 23, 201 (Hong, Holcomb, Bhandari, & Larkin, 2016) 0.

required to buy health insurance or pay a penalty to the IRS” said by an article from

The major provision of Obamacare is that most U.S. citizens must enroll in a health insurance plan for the entire tax year or face a penalty. Employers with more than 50 employees must offer workers a health insurance plan, and low-cost insurance exchanges have been set up so that employers and people without coverage can compare plans and buy insurance that meets the following levels of coverage:

Beginning in the year 2018, the Affordable Care Act (ACA) will implement a nondeductible excise tax, namely the Cadillac Taxon, on all employers as well as health insurance issuers, and other entities administering health care plan coverage (Marathas, 2015). Under the new excise tax, an employer or health insurer offering a plan that costs more than $10,200 for an individual and $27,500 for a family would meant that the firm would be required to pay a 40% excise tax on the amount that exceeds the threshold (Wojcik, 2013). Supporters of the tax argue that employers need an updated view on cost control, basically, meaning they believe that, currently, many employees abuse their benefits and that by forcing consumers into paying a share of this cost, that they will be less likely to overuse or abuse their health care (Marathas, 2015). Those opposing the tax believe that it dishonestly “hollows out” and “slashes” employee health benefits (MDeverywhere, 2015).

It was stated earlier in this paper that big businesses would benefit from this law; however, the exact opposite is true for small businesses. Businesses will be forced to provide healthcare for their employees or pay a fine, something they may not be able to afford. This may result in employees’ hours being cut or even the termination of the employee (“ObamaCare”).