Pros and Cons of Obamacare
If you’re contemplating purchasing a health insurance plan through Obamacare, then you may be trying to learn as much as possible about this government-assisted program. Obamacare originated as a result of the Affordable Care Act, as it was the government’s goal to ensure that no American would go without access to a full-coverage, affordable health insurance program. One way that can help you to determine if enrolling in an Obamacare insurance plan is a good idea is to weigh the pros and cons. What exactly are the pros and cons of Obamacare? Here is an overview that can help you decide if obtaining healthcare through the Marketplace is a good idea or not.
The pros of Obamacare
More people have coverage – A greater number of Americans have peace of mind knowing they’re covered under a health insurance plan, despite having a low to moderate income. As a result of the Affordable Care Act (ACA,) which was implemented in March of 2010, more than 16 million adults who were previously underinsured or completely uninsured, have been able to find affordable, full-coverage healthcare plans through the Obamacare program.
People pay less for prescriptions – It’s no secret that prescription costs in America can be astronomically expensive, sometimes causing many people, especially seniors, to be unable to pay for essential medications. The ACA was created to enable all Americans to not only access affordable healthcare, but also affordable prescriptions, as well. That is exactly what the ACA has done, and millions of Americans are now able to afford potentially life-saving medication.
More essential screenings are covered – Most potentially fatal diseases can be successfully treated if they’re caught early enough, which is why pre-screenings are essential. It doesn’t matter if it’s a pre-screening for cancer, diabetes, or some other condition, it was previously difficult to get these screenings covered by insurance companies. However, one goal of the ACA is to ensure that more Americans have access to these pre-screenings, so diagnoses can be made early, when treatment can be more effective. That way, more deaths can and have been prevented.
More affordable insurance premiums – Due to the fact that Obamacare provides government-assisted premium payments, Americans are able to access the health insurance that they need while paying up to 80% less than they would have paid through an employer or without government subsidies. This can significantly improve the quality of life by lessening stress levels, as many of these Americans no longer have to pay high medical costs.
No more coverage limits – With employer-sponsored plans and conventional plans, it wasn’t unheard of for coverage to stop at a certain point for people with chronic health conditions. With plans obtained through Obamacare, members don’t have to worry about this issue arising, as there is unlimited coverage available, regardless of the cost or the particular ailment being treated.
No pre-existing condition clauses – With non-ACA related health plans, it wasn’t unheard of for an insurance representative to show up at your door with a scale and a blood pressure cuff to ensure your weight and blood pressure are within normal limits or the person would be denied coverage. There was also a full list of pre-existing conditions that would make a person ineligible for a healthcare insurance plan until a certain period of time had passed. Those who sign up for health insurance through Obamacare don’t have to contend with possibly being denied coverage, because there are no pre-existing condition clauses.
The Cons of Obamacare
There have been enrollment issues in the past – When Obamacare was first implemented, people experienced problems with the system processing their enrollments, which led to unexpected delays in people becoming insured. Although these problems were fixed, the enrollment period is only in November and December of each year, and if numerous people are attempting to sign up at once, it could cause a repeat of the same problem. To minimize any delays, be sure that you sign up early and have all the necessary information available during that time.
There has been an increase in taxes due to ACA – Healthcare can be expensive, and as a result, taxes have been steadily rising in order to help cover some of these costs. It’s a case of the rich being held responsible for helping to pay for health insurance benefits for the poor, and the rich aren’t happy about this. The ACA hopes it’s not necessary for taxes to continue to increase in the future for any income group, yet the program can continue to be fully covered. This is the future goal of the ACA, as changes are constantly being made to the program, usually for the better.
Companies are retaliating against Obamacare – As a result of the ACA, employers with 50 or more employees who are required to offer health insurance for full-time employees are cutting hours. By cutting would-be full-time employees’ hours from 40 to 30 a week, they’re no longer required to offer health insurance, reducing costs and responsibility of these businesses. However, these “part-time” employees are forced to find other ways of finding health insurance as a result of the actions of many of these companies.
So, after you have weighed the pros and cons of Obamacare, you will likely see that the pros outweigh the cons and that signing up for health care coverage through this government-backed program would be a great idea. It’s easy to sign up for Obamacare during their annual open enrollment period, which occurs in November and December of each year, for a January 1st start date. There are special enrollment periods year-round for those who have experienced a major life change, such as marriage or divorce, the birth or adoption of a child, the loss of a job, and even moving. Regardless of when you sign up for an Obamacare health insurance plan, hopefully, you will experience more benefits than not having coverage at all.