Obamacare Facts

Understanding the

pros and cons of obamacare

Simply put, it is a fact that obamacare or the Affordable Care Act of

2010 will have a wide impact with long-term ramifications for millions of


The healthcare act or "Obamacare" as many taut, was designed to lower the healthcare, and increase the access for millions of uninsured citizens and legal residents of the United States. Below are some KEY obamacare pros and cons to help you understand and identify opportunities within the law.  Although Healthcare Reform has been in effect for the last two years, it is January 1st 2014 when millions of uninsured will be able to obtain coverage through the newly created Health Benefit Exchanges or Healthcare coverage state markets. For those that are still unsure of when does obamacare start, it’s important to note that some
Obamacare Facts 101 Pros and Cons of Obamacare

When Does Obamacare Start



#1 Increased Access to Healthcare: Over 32 million US Citizens and legal residents who are not  covered by health insurance currently will either have coverage or will get the coverage they need starting in 2014. This includes:  millions of young adults between the ages of 19 through 25 who are now able to be added to their parents' plans. Many of these young adults are currently working but don't make enough to afford to pay for health benefits. #2 Individuals with pre-existing medical conditions Health Plans will no longer be able to be denied coverage to those people who currently suffer from a pre-existing condition. In addition, Health Insurance companies will no longer be able to drop plan members once they develop a sickness #3 Government help to purchase health insurance (subsidy). The Federal government will increase the elegibility of people that can qualify to Medicaid (Medi-Cal in California) by the Medicaid expansion which allows people upto 138% of Federal Poverty Level (FPL) to qualify for Medicaid. Also, financial help will be available to those who are within the 139-400 of FPL. That simply means that if your income is not high enough you will receive a subsidy to help you pay for your healthcare coverage. #4 Reduced the cost of healthcare. According to the calculations of the CBO, the cost of healthcare can be reduced. Since the Affordable Care Act ensures that 95 percent of US Citizens and legal residents have health insurance coverage, preventative healthcare will be more accessible. It is The newly insured will no longer have to wait until their ailments become so extreme that they are forced to visit the hospital emergency room, a more costly care avenue. #5 Reduced budget gaps. The Congressional Budget Office (CBO) estimates that the PPACA will reduce the national budget deficit by $143 billion by 2019 because of the Act's associated taxes and fees. In addition, the CBO believes that the Medicare "donut hole" gap in coverage will be eliminated by 2020. " #6 Higher taxes, lower deductions. Americans who don't pay for insurance and don't qualify for Medicaid will be assessed a tax of $95 (or 1 percent of income, whichever is higher) in 2014. The tax will increase substantially to $325 (or 2 percent of income) in 2015, and $695 (or 2.5 percent of income) in 2016. Individuals with annual incomes above $200,000 and couples with incomes above $250,000 will pay higher taxes to help cover costs of the program. And, in 2014, families can only deduct medical expenses that exceed10 percent of income, rather than today's 7.5 percent of income. For details, see: What Obamacare Means for Taxes.



#1 Shortage of healthcare professionals.  A new study by the National Monitor predicts that the implementation of the PPACA, coupled with the nation's aging population, could lead to a shortage of 52,000 primary care physicians by 2025. This could leave millions of Americans without access to healthcare. The study also noted that office visits to primary care physicians will likely increase from 462 million to 565 million by 2025, further straining the system. #2 Higher drug costs. Pharmaceutical companies will pay an extra $84.8 billion in fees over the next ten years to pay for closing the "donut hole" in Medicare. This could raise drug costs if they pass these fees on to consumers. To learn more about the Affordable Care Act and its potential impact, we encourage you to visit Healthcare.gov to examine additional facts and review the government's roll out timeline extending through 2014.

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