Pros and Cons of Obamacare

1693 WordsJan 7, 20147 Pages
Obamacare Controversy always surrounds change. Healthcare is this kind of controversial topic where people refuse to accept changes, even though changes must be made. Obamacare details many changes, how they will be made, and whom they will affect. As with any bill, there are pros and cons that exist as the bill helps many, but makes some a little worse off. Taking into account the pros that include the minimum benefits package and expansion of Medicare coverage as well as the cons that include rising costs to government and a shortage of doctors, I would vote against the bill. Obamacare is an extensive bill that completely transforms the healthcare system. The main part of the bill is the individual mandate that requires all…show more content…
The new policy will make the insurance companies pay for 75 percent of the drug expenses and leave the consumer to pay 25 percent. However, when the drug expenses reach the catastrophic threshold of more than $5,100, then the insurance Medicare will pay for 95 percent of the drug costs. The government has already started to try and close this gap by subsidizing those who fall into the donut hole. Each year they will slowly increase the subsidy until the consumer only has to pay 25 percent. By addressing the donut hole that has occurred in the current health coverage Americans will be better off and no longer face drug expenses that they are unable to pay (Goldstein 2010, 113-121). However, the major changes come with huge monetary costs. Even with huge increases in taxes the government will not be able to pay for it. Obamacare requires all businesses to provide insurance; if the business chooses not to they must pay a penalty. The quantity of the penalty is less than the cost of insurance; so many businesses opt out of providing insurance plans. If employees do not receive insurance through their workplace, they must buy insurance plans on the exchanges. The plans provided on the exchanges are heavily subsidized in order to make sure that they are affordable for the average American. When more Americans buy from the exchanges the government must provide more subsidized plans, creating a huge expense for the
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