Verified Document

Obamacare The Cons Of Obamacare As The Thesis

Obamacare The Cons of Obamacare

As the beginning of 2014 rapidly approaches and the Affordable Care Act, more commonly known as "Obamacare," begins to take effect it is becoming more and more obvious that the system, as defined, is economically infeasible. Through a series of new taxes, as well as the individual mandate, the Obama administration has assured every American that the new system will be fully funded and the price of their insurance will drop significantly. However, just as his promise of that every American could keep their own health plan or doctor if they wanted is proving to be a falsehood, his promise that the new law will add millions of new people to the insurance rolls while simultaneously lowering prices for the individual American is also proving to be false. The primary means by which the president has guaranteed financial stability, the individual mandate, will not provide enough financial input to cover the costs of the millions of new patients. The fault lies with a single loophole which allows anyone who doesn't obtain health insurance to simply pay a small tax which is a fraction of the price of an insurance plan. With such an escape clause most economists have come to the conclusion...

This is not a penalty, as the president and many of his supporters claim, it is a tax and therefore required under penalty of law. However, the tax mandated by the Affordable Care Act is a small amount when compared to the price of an insurance plan. According to the president's own Obamacare website the tax in 2014 is only $95, or 1% of an individual's income. This rises to $325, or 2% of an individual's income in the year 2015 and $695, or 2.5% of one's income in 2016. Afterward the tax "will increase by the rate of inflation going forward, or 2.5% of your Income." ("Obamacare Individual Mandate") In terms of families, the maximum penalty per family can not exceed 300% of the minimum tax no matter how many members the family may have. And children, under this section of the law, will actually be assessed at only 50% of the minimum tax. With such provisions in the law many assert that there is no possible way that the system can operate without deficits.
According to the Kaiser Family Foundation, although the president guaranteed that the average health insurance premiums would be $2,500 lower, "the average price of a family policy has risen by $2,200..." (Turner) With this type of financial misunderstanding, the president cannot be believed when he states that the individual mandate will provide enough funds for the system to operate. And as the system requires large numbers…

Sources used in this document:
Works Cited

Murphy, Robert. "The Economics of Obamacare." Ludwig Von Missus Institute 13 Nov.

2013. Web. 9 Dec. 2013. http://mises.org/daily/6587/

Obamacare Individual Mandate. Obamacare Facts. Web 9 Dec. 2013.

http://obamacarefacts.com/obamacare-individual-mandate.php
Online 28 June 2012. Web 9 Dec. 2013. http://www.nationalreview.com/critical-condition/304361/top-ten-worst-things-obamacare-grace-marie-turner
http://www.washingtontimes.com/news/2013/oct/27/williams-why-are-we-against-affordable-care-act/?page=all
Cite this Document:
Copy Bibliography Citation

Related Documents

Affordable Care Act
Words: 782 Length: 2 Document Type: Essay

Affordable Care Act (ACA) is a new health insurance reform associated with direct advantages besides the minimal drawbacks. One advantage of this reform relates to health care intensity and quality. As a result, the cost of health care services differs according to providers in different geographic locations. Consistency could be achieved, health care quality improved, and costs minimized if providers practice consistent with best practice standards. If this is done,

Obamacare Good for the Economy
Words: 3735 Length: 10 Document Type: Research Paper

Obamacare good for the economy? The issue must be looked at from three points-of-view, One the development that goes on in the health care and how the policy ahs affected the health care industry and particularly various sections of the society, secondly the economic changes and developments that have come about in the medical care industry, and the burden and changes in the nations economy as a whole and whether

Affordable Care Act Can We
Words: 1115 Length: 4 Document Type: Term Paper

References http://kff.org/health-reform/perspective/can-we-learn-from-aca-implementation-and-improve-the-law/Altman, D. (2013). Can We Learn From ACA Implementation and Improve the Law? Retrieved June 8th, 2013, from the Affordable Care Act: From Hiccups to Repeal Most important aspects The author presents three important aspects that are a continuum of the implementation of the ACA from hiccup to repeal. The first scenario is the hiccup scenario where implementation issues are expected in the ACA implementation. This is where glitches are found that

Obamacare Pros and Cons and Mandated Insurance
Words: 684 Length: 2 Document Type: Essay

In an ideal world, every single person would be able to afford the medical care and attention they need throughout their lifespan. The Affordable Care Act, colloquially called Obamacare, set as its goal eventual universal healthcare coverage. Unfortunately, Obamacare has not promoted the ultimate goal of providing affordable healthcare for all Americans. Mandating healthcare insurance does help reduce disparities in access to affordable and necessary interventions, tests, and treatments. As

Obamacare Essay
Words: 3359 Length: Document Type: Essays

Titles: The Affordable Care Act: Can It Be Fixed? The Future of the Patient Protection and Affordable Care Act The Pros and Cons of Obamacare The Effects of Obamacare on American Small Businesses Topics: What are the main arguments for and against Obamacare? How much should Americans pay for healthcare insurance? Why do Americans pay more for their healthcare than consumers in some other countries? Is Obamacare’s individual mandate unconstitutional? Outline: I.  Abstract II.  Introduction III.  Body      A.  Background and Overview    

Cons of Using Healthcare IT
Words: 1004 Length: 3 Document Type: Essay

Epic Systems� EHRIntroductionEpic Systems\\\' Electronic Health Records (EHR) is a widely used healthcare software that offers a fairly comprehensive and integrated way to manage all one�s patient records. It helps with everything from the documentation, storage, and retrieval of patient information, to the interoperability with other systems, and includes a patient portal for improved patient engagement. The system is also well known for its data analytics capabilities, customization options, and

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now