“What are the positive and negative points of Obama care that may affect me?” You may have asked this question, at one time or another, now that Obamacare continues on as The Law on healthcare. Obama care, or the Affordable Health Act, as it is formally called, lives on after the Republicans shelved their plans to repeal it.
It makes sense to know its pros and cons to better understand how that will affect you now and in the future. Here are a few of those points.
The Positive Points of Obama care
Health insurance is now more affordable for you
Health insurance is not free but Obama care prevents health insurers from making unreasonable increase, plus you also have more coverage.
If you have a pre-existing medical condition, you won’t be denied coverage
So, you have diabetes, for example, you can’t get insurance at all before Obama care, because you have a pre-existing health problem. But now, with Obama care, you will not be denied the ability to get insurance.
There is no cap on coverage
Before Obama care, insurance companies set limits on the amount they cover for treatments. Under Obama care, no more limits. You will not run out of insurance coverage.
More preventive screenings are covered
This is to encourage you to avail more of these services and be proactive when it comes to your health because a healthy consumer costs less in treatments and hospital costs.
Prescription drugs are more affordable
The number of prescription drugs covered by Obama care has increased so they are more affordable for you.
Sounds good so far, right?
The Negative Points of Obama care
You pay more premiums for your health insurance
This because the health insurance companies now have to cover more people and more pre-existing health problems.
You can be fined if you don’t get insurance
This is to make sure that everyone will get health insurance, no exemption.
Taxes have increased
New taxes were created to help pay for Obama care. Those who receive higher salaries also pay higher income taxes to cover the cost of making Obamacare available for all. If you are one of those, that could be an extra financial burden.
Businesses are cutting down the number of hours of work for employees
If you’re an employee, your hours of work may be cut down so you won’t be considered a full-time employee and the company won’t have to cover your insurance.
So, knowing those positive and negative points, depending on which level of the economic chain are you, the Obama care could be a positive or a negative for you.
If you belong in the higher-income level, you pay more in insurance premiums and taxes to help subsidize those who don’t have much in income so they can avail of Obama care.
If you belong in the lower level of the income bracket, Obama care makes sure you can avail of the health insurance that you need subsidizing the cost of insurance for you.
To conclude, Obama care allows the wealthy to subsidize the insurance of the poor.
Is that a positive or a negative point for Obama care in your book?