Patient Protection And Affordable Care Act

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Patient protection and affordable care act was enacted in 2010 with the main purpose of minimizing the cost, improving the obtainability and affordability of health insurance. Uninsured rate will decreased at a faster rate.. It will achieve healthcare reachability to as many people as by extending public and private insurance. The Affordable act has included following: any one with pre-existing condition can not be denied of coverage, children under 26 may be eligible for coverage under their parents insurance, insurance companies can not cancel your coverage due to withdrawals.

Economic Advantages of Affordable Care Act

1. More insured population, decrease in unemployment rate

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As per a report by Council of Economic Advisers decrease in the costs is achieved through changes in Medicare by implementing new imbursement techniques and more meaningful and effective quality care. In addition to only Medicare, Affordable care Act will create changes in the whole healthcare system delivery nationwide. Lower health care cost will decease the cost of insurance paid by possessors, which is valuable for employees. As the cost of insurance is less employees can hire more workers and it will lead to more job creation. A study conducted by an economist found that due to healthcare reform approximately 300,000 to 400,00 jobs will be added each year.

3. Decreasing the deficit and placing the groundwork for future development As per the Congressional Plan, Affordable Care Act will lessen the deficit by $ 109 billion. And this effect will continue in near future also. From 2020 to next ten years, the Affordable Care Act will lessen the deficit by an average one half percent of GDP each year, will lead to final deficit decrease at nearly around $ 1.6 trillion over ten year period. And by this way it will create more way for increasing in hiring of workers and more manufacturing and ultimately increase in revenue.

4. Advancing health and making workers more industrious

Affordable care Act will improve
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