The amendments have had practical impacts such as repealing the tax mandate of the employer, health insurance tax of small businesses and decreasing the burdens on individuals and businesses. The compliance cost for small business owners has risen by 36% higher than that of larger corporations. Similarly, the average U.S. citizen has already been overtaxed. Since the passing of the Affordable Care Act, Americans have not enjoyed the benefits that come with it. While the country is characterized by a highly partisan political climate, the congress is full of voice of reason. These voices claim that the Act should be amended so that the pain can be reduced in the future. More policy makers have been encouraged to pull in their efforts. After years of the groundbreaking changes on the Care Act, one of the advantages associated with this law is that it supports a low rate of uninsured Americans. The law has enhanced the possibility of people accessing health care with improved costs and enhanced quality. Without the changes, the healthcare industry and most Americans argue that the rising costs would have unraveled the country's universal health care coverage. This is commendable because it might have resulted in a crushed national budget due to bankrupt businesses. In the next ten years, experts have projected...
It is obvious that the new healthcare Act has not adequately lowered the costs of health care. However, it has incorporated provisions that seek to limit the expansion of Medicare costs to hospitals. For instance, the Act has been financially penalizing health care institutions for excess re-admissions of patients who had been previously released. Further, it has tied providers' increase of prices in the overall national economic growth rate. These restrictions suggest that the leading providers must make major adjustments. The most evident disadvantage is that the law is unenforceable. If the financial performance of the industry exceeds the four percent annual growth limit, the government is expected to impose penalties on providers.
The first phase, implemented in 2010, provides immediate access to a high-risk insurance pools for individuals excluded from healthcare coverage because of pre-existing conditions; it also allows children to remain covered under their parents' insurance plans until the age of 26 and provides tax credits to small employers that give their employees health insurance (Tumulty, Pickert, & Park, 2010). The second phase begins in 2011 and will require private
Healthcare Reform Revised We know that the burden of diseases is increasing all over the world. The percentage of people suffering from diabetes, cardiovascular and pulmonary diseases has considerably increased in the last decade. It is noteworthy here that the importance of preventive care now comes at par with the importance of curative care. Considering the prevalence of diseases and the health status of the American population, President Obama introduced a
What this means is that the lifetime limits on most benefits are barred for all latest health insurance plans. Another interesting thing is the reviews premium increase (Wakefield, 2010). This is saying that insurance companies must now openly defend any type of unreasonable rate hikes. The last thing is that it helps a person get the most from all of their premium dollars. In other words, a person's premium
In the U.S., administrative costs are 31% of health care costs, compared with 19% in Canada. The proposed health care reform is also expected to improve health outcomes. By shifting some of the focus of the system away from maximizing shareholder value and towards improving health outcomes, Americans should live longer, have better access to care, see improved quality of life and have lower mortality rates for a number of
Transparency empowers consumers to become better shoppers. Economists assert that transparency stimulates productivity, for example, in exchange for money, one individual obtaining fair value. In every aspect, except healthcare, Davis points out, transparency, is supported. The contemporary dearth of transparency in healthcare has led to many Americans not being able to effectively shop for the best quality of service at acute care hospitals. Davis argues that transparency permits consumers,
(Rennie; Fontanarosa, 2006) Apart from financial reasons, millions are not bale to access healthcare due to a lot of barriers inclusive of geography, racial differences and immigrant status. The people who do not have access to required care, that might comprise incapability to get primary care chronic care, specialist care, or emergency care stand at risk for severe health consequences. As per a recent report, absence of health insurance was
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