The Patient Protection and Affordable Care Act was signed into law on March 23, 2010 by President Barack Obama. The Patient Protection and the Affordable Care Act is commonly referred to as the Affordable Care Act (ACA) or Obamacare. The law was created in order to offer all citizens quality affordable health care. The Affordable Care Act decreased the amount of citizens without health care. Now, about 20 million to 24 million citizens have health insurance due to the Affordable Care Act. The Affordable Care Act requires that employers provide health insurance to 95% of all their full time employees or pay a penalty fee. Therefore, the Affordable Care Act negatively impacts employers who must offer insurance to their employees. Signed by …show more content…
Employees are considered full time employees if they work over 30 hours a week. Big businesses must provide minimum health coverage to full time employees. If big businesses don’t offer their employees insurance than they will have to pay the Employer Shared Responsibility Payment fee. The penalty fee will be $2,000 per full time employee that isn’t insured excluding the first 30 full time employees. The $2,000 fee would be paid every month that the employee goes without be insured. On top of paying for the insurance of 95% of their full time employees, they also have to pay for all the employees’ kids health insurance as long as they’re under 26 years old. Employer’s don’t have to pay the Employer Shared Responsibility Payment fee if they offered an employee health insurance and the offer was declined. If big business employers are self-insured employers, they might be required to pay a fee in the Patient-Centered Outcomes Research Trust Fund. The Patient-Centered Outcomes Research Trust Fund is an organization that educates the public on decisions that help improve the quality of medicine. Employers of big businesses must file an annual return report that says which employees have what insurance. Employees that aren’t offered health insurance can get cost assistance …show more content…
Before the ACA was signed, a large part of the United States population did not have stable insurance. Immediately after the ACA was passed, around 50% of 18-34 year olds were able to get insurance for less than $50, and they were also able to receive multiple benefits. Healthcare is an important political topic that many constituents care about, so the Presidents have to act accordingly. President Obama passed the bill to please his constituents, but now President Trump, who disagrees with the law, is working to repeal the law and replace the bill to please his constituents. As one can tell, healthcare is a difficult area for the government to act on. However, with the ACA, much of the population was satisfied with how the bill worked and had few issues with how healthcare was working. This was the goal of the Obama Administration. The role of the Affordable Care Act was
President Obama spoke to the American people that government run health care with higher taxation, larger prices, and letting the insurance agencies operate with little to no rules were “wrong”. It was to improve and provide all Americans with affordable health care and easier access to doctors and medical care and offer subsidies
The Affordable Care Act, (ACA) often referred to as Obamacare, was signed into law March 23rd, 2010 and has quickly become a nightmare to millions of citizens nationwide. While there were fortunate people who benefited from the heavily subsidized and affordable healthcare that was not readily available before ACA was passed, many more people found that their once affordable healthcare was no longer an option due to new ACA requirements (how so?). ACA was designed to extend insurance benefits to roughly 30 million uninsured Americans. The Obama administration aimed to extend Medicaid and provide federal subsidies so lower and middle-class Americans could afford to buy private insurance. This act alone forced millions of Americans out of their
This gives people who don’t have jobs or don’t have enough to support themselves and a chance for efficient and affordable health insurance. The estimated “employment-population ratio edged up to 59.8 percent over the month in February” said in the article United States Unemployment Rate. This will also help the state get another way to sell a better health care option. The Affordable Care Act is also called ObamaCare due to the change in presidency, Obama signed for the Patient and Affordable Care Act will ensure people that “ObamaCare’s many protections ensure that you can’t be dropped from coverage when you get sick or make an honest mistake on your application.” So President Obama gives the opportunity for people that may be sick and overworked themselves trying to save money, just to ensure they have money to pay for their medical bills.
The Employer Mandate If you have a job at a business with at least 50 full-time employees, the employer mandate requires businesses of that size to provide access to employer sponsored coverage. The employer typically subsidizes the cost of coverage. The premium should not come to more than 9.5 percent of the employees income.
The Affordable Care Act also nicknamed Obamacare, was enacted by President Barack Obama on March 23, 2010. This act made it to where hospitals, and physicians would have to change their practices financially, technologically, and clinically to make better outcomes, and lower the costs of providing medicine to patients. This act was designed to increase health insurance quality and affordability, and lower the number of people that were uninsured. It introduced mandated, subsidies, and insurance exchanges. This act also requires that all applicants be accepted despite sex, and pre-existing conditions.
First, tax revenues throughout the law help mitigate the cost of the coverage expansion through the health insurance exchanges and Medicaid expansion. Second, the individual mandate requires individuals to purchase coverage with some exceptions or face a penalty. ACA included a number of taxes and fees, mainly on the health care industry, but also on some individuals, in order to help offset the cost of the ACA’s coverage expansion and even to reduce the deficit. The law includes approximately fifteen changes in tax policies. There are new tax laws and fees that are affecting insurance companies, pharmaceutical manufacturers, and medical device manufacturers.
The Affordable Care Act was enacted with the intention to meet the goal of Obama and “provide affordable, quality healthcare for all Americans and reduce the growth in health care spending.” The Affordable Care Act (ACA), also known as Obamacare, is what our nation needs to sustain our people and ensure our people’s rights. March 23, 2010 was the day President Barack Obama signed the Affordable Care Act into law, and ever since, all Republicans in congressional office have made it clear that it is their intention to revoke the law. However, despite over 50 attempts of trying to repeal different parts of the Affordable Care Act, Republicans have accomplished nothing.
Affordable Care Act, (ACA) also nicknamed “Obamacare,” is a United States federal statute enacted by the 111th Unites States Congress and signed into law by former President Obama on March 23rd 2010. It represents the U.S healthcare systems most significantly regulatory overhaul and expansion of coverage since the passage of Medicare and Medicaid in 1965. (NCBI)The Affordable Care Act offers essential benefits that range from covering hospitalizations to mental health care to prescription drugs. A primary goal of it was to make sure all Americans or nearly all obtained health insurance. It created insurance exchanges for those seeking individual coverage and expanded Medicaid for low-income adults.
The ACA/Obamacare was signed into law to change healthcare in the U.S. by President Barack Obama on March 23, 2010. The and upheld by the Supreme Court on June 28, 2012. ObamaCare's goal is to give more Americans access to affordable, quality health insurance. Also to reduce the growth in U.S. health care spending.
Since 2013 it has been mandate that employers must offer health insurance that is affordable and provides minimum value to 95% of their full-time employees and their children up to age 26 if not they will pay a fee (What Is The Obamacare Employer Mandate?, 2016). The minimum number of employees for ObamaCare is all businesses will 50 or more full-time employees fee (What Is the Obamacare Employer Mandate?, 2016). The penalty fee includes companies that do not offer affordable covered will owe 3,000 dollars for every full time employee who gains cover through the marketplace. The 3,000 fee will be paid every single month.
The Affordable Care Act, also known as ACA and ObamaCare, was signed into law by President Obama on March 23, 2010. Since its implementation, the ACA has greatly improved the American health care system by reforming "health insurance, health care costs, and the delivery of care" (French et al.). But its main purpose was to reduce the number of uninsured Americans who were poor and could not afford private health insurance, and people with pre- existing conditions who were denied health insurance. The provisions that have had the most impact are the Medicaid expansion, subsidies, dependent coverage, and guaranteed insurance for high-risk people. As of 2015, 30 million people had insurance under these four provisions (Blumenthal
The Affordable Care Act (ACA) is an act that was passed by President Barack Obama on March 23, 2010. This act was meant to focus on certain areas so it would be able to reform health care in the United States. The ACA focused on making healthcare more accessible, affordable and providing better quality care. The ACA is important in the health care system because it has helped thousands of people throughout our country get insurance.
The Affordable Care Act (ACA), also simply known as Obamacare, was enacted into law on March 23, 2010. The purpose of the ACA was to initiate a complete overhaul of the U.S. healthcare system make healthcare more assessable and more affordable to Americans who could not obtain health insurance. Although the ACA sounded good in political speeches, no one knew of the problems it would create for Americans because, as Rep. Nancy Pelosi, D. Cal, famously said, “We have to pass the bill so we can find out what is in it.” Although the ACA has helped some Americans obtain health insurance, the ACA has made the U.S. healthcare industry worse and I am very much against it.
The majority of America receives their health coverage from their employers. Along with the new ACA requirements, Medicaid expansions and tax credits are assisting low-income families in purchasing affordable healthcare coverage (Merlis, 2011). Employers also benefit from these new ACA requirements by being granted exemption from Federal, State, Social Security and Medicare taxes. This means if an individual were to enroll in the health insurance coverage plan
The Affordable Health Care Act, also known as “Obamacare”, is basically just Obama trying to make sure that the whole nation has insurance and if they do not have it by January 1, 2014, they will be penalized with a fine. To make insurance more affordable, many Americans are able to qualify for a subsidy that lowers the cost depending on age and income. Also, “Obamacare” made it impossible for insurers’ to discriminate, or charge higher rates, for anyone who has pre-existing conditions or for a certain gender. Medicare will also be easier to obtain due to requirement of insurance. This law was passed in the U.S. on March 23, 2010 by Congress and President Barack Obama.