Preview

Pros And Cons Of The Affordable Care Act

Satisfactory Essays
Open Document
Open Document
606 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Pros And Cons Of The Affordable Care Act
The Affordable Care Act withstood many trials on its way toward becoming reality, from epic congressional battles, to a pivotal Supreme Court ruling, to — finally — yesterday's Presidential election. Saul Loeb | AFP | Getty Images Obama's reelection means his health-care reform act has dodged its last bullet, and the age of universal mandates, penalty taxes and tax credits will almost certainly go into effect, although probably not exactly as scheduled on Jan. 1, 2014.

What do you need to do to get your business ready?

(Read more: Warby Parker CEO: Startups Focused on Health-Care Costs, Immigration Reform)

Inc. put the question to health-care policy expert Henry J. Aaron, a senior fellow at Washington think tank Brookings Institution. Aaron offered three key ideas for entrepreneurs facing the enormous changes scheduled for health care during Obama's second term.

1. Weigh the Costs
…show more content…

The pros and cons of either route will depend on the size of your payroll, both in people and dollars. Do you have 50 or fewer employees? Then you aren't subject to penalties for not providing an employee plan. On the flip side, helping employees pay for insurance affords tax advantages. If you have fewer than 25 full-timers on your payroll and their average pay is less than $50,000, the law affords you a tax credit of up to 35 percent for providing insurance today, rising to 50 percent in

You May Also Find These Documents Helpful

  • Powerful Essays

    Pros And Cons Of Obamacare

    • 1325 Words
    • 6 Pages

    establish a working healthcare plan, and succeeded. Now that this plan is on the verge of…

    • 1325 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    The Affordable car act also known as Obama Care, had its difficulties launching, and has face some major battles on the way. After Obama signed the Affordable care act on March 23, 2010, the pressure pushed to repeal the act increased over the years. Since Obama’s election into the White House in 2010, the Affordable Care Act was passed due to the powers possessed by democrats over the House and the Senate. The democrats faced backlash from the republicans because of their control. After the republicans gained back their control of the house, blacklash against the Affordable Care Act increased (Swagel, 2015).…

    • 633 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    The Affordable Care Act or ObamaCare is a health care law that focuses on providing more people with health care that they are able to afford, all while refining the standard of health care and health insurance.…

    • 292 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Obamacare was designed to help the lower income people whose jobs did not provide health insurance or those who could not afford it on their own. A few of the main or biggest beneficiaries of Obamacare include those between the ages of 18 and 34; blacks; Hispanics; and people who live in rural areas. The people that hurt the most from Obamacare include people who are 35 and older and those who are self-employed, or a combination of both. Many of these people who are hurt the most happen to generally be Obama’s political opponents. While there are movements to replace and even to repeal Obamacare, success for these movements seem rather unlikely. For the most part, experts seem to believe that the likelihood of Obamacare failing is basically…

    • 303 Words
    • 2 Pages
    Good Essays
  • Good Essays

    The Affordable Care Act was signed into a law on March 23, 2010, by President Barack Obama. The United States, after long years of demanding Ever since the enactment of Medicaid and Medicare in 1965, this law is considered the most important administrative system of the United States health care system. This law was planned to help avoid terrible health care costs to the people who did not provide health insurance for themselves. The terrible health care costs can destroy the credit scores of the people. This can eventually cause home closure and even bankruptcy. The Affordable Care Act expects to raise the value, admission, and inexpensiveness of health coverage. Also, to lower the health care prices for the government and citizens. In…

    • 326 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    The Affordable Care Act is the greatest overhaul of the US health-care system. One of its key reforms includes health coverage for adults with pre-existing conditions, which generally hadn’t been available until now. The Affordable Care Act was signed into law by President Obama in March 2010. The act will extend insurance to more than 30 million uninsured people.…

    • 91 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    Obama Care, AKA the Health Care and Education Affordability Reconciliation Act of 2010, reforms the health insurance industry and the American health care system as a whole. To the layman the information included in the over a thousand pages of legislature is very hard to decipher. I found myself searching for Obama care for dummies to try and make sense of the legal rhetoric. Once I got through it though the benefit and disadvantages are very clear. In this I will outline where we stand in America now, the benefits of Obama Care and finally, disadvantages…

    • 1408 Words
    • 6 Pages
    Better Essays
  • Good Essays

    In 2010 President Obama fulfilled a promise to the Democrats that healthcare would be available to all Americans and would be much more affordable.When the Affordable Care Act was established, there were 27 million previously uninsured people that would gain coverage under the Affordable Care Act. Thanks to this new healthcare establishment, “about 16.4 million Americans gained health care coverage and the uninsured rate had been reduced by more than a third “Health”. The first example was that when the Affordable Care Act was first released many people knew that this was exactly what they needed. Even the president of The united States and democratic party knew that passing this bill would help a lot of people who could not get insured get…

    • 388 Words
    • 2 Pages
    Good Essays
  • Good Essays

    The Affordable Care Act or ACA has been a very controversial law. The Affordable Care Act contains many benefits, particularly for low and middle income families and businesses. The Affordable Care Act also contains some obstacles for high earners, and larger firms that don’t insure their employees.…

    • 262 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Many insurance companies will deny you coverage because of a mistake on the application or a pre-existing condition. With Obama Care active insurance companies can’t deny you because of these reasons. The only way they could deny your coverage is if the plan is already active. There are no more unreasonable limits on lifetime benefits. The limit for Lifetime benefits and annual limits are banned. One can still have benefits on whoever’s on the plan no matter the condition of that…

    • 1309 Words
    • 6 Pages
    Good Essays
  • Good Essays

    Obamacare is a act that is very controversial to this day. This paper is going to examine the pros and cons of the affordable healthcare act.…

    • 860 Words
    • 4 Pages
    Good Essays
  • Better Essays

    As many U.S. residents already know, being prepared for the unexpected is a trait attributed to success, especially when it comes to our family’s health. One typical suggestion when it comes to “making ends meet” in household matters is saving enough money in a family safety net to ensure solvency and to mitigate the high cost of paying for routine medical care or unexpected health issues. However, that is impossible for most people due to the huge costs of current medical coverage. A very limited percentage of the population are able to pay the total cost out of pocket when a medical emergency occurs. Simply obtaining a health insurance plan, either thru employment or by procuring private medical…

    • 1419 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The “Affordable Care Act of 2010” also known as “Obamacare” or “Health Care Reform Act of 2010” is a universal healthcare plan that was designed to allow Americans to be able to get quality health insurance that people would be able to afford, and to cut U.S health care spending down as well. Many Americans debated about whether or not it was beneficial for everyone or just certain people, so there are many advantage and disadvantages for Americas due to this reform.…

    • 970 Words
    • 4 Pages
    Good Essays
  • Good Essays

    The affordable Care Act Also known as Obama Care has been the most controversial topic that most Americans debate on. It wasn’t clear whether this would be beneficial for everyone. The main aim of the ACA was to increase healthcare access for low income Americans by providing affordable healthcare coverage, to improve the quality of healthcare, to reduce healthcare cost, and to regulate the healthcare insurance companies. Since the act was passed millions of uninsured Americans were able to get affordable healthcare coverage. However, millions of Americans are still uninsured for many different reasons.…

    • 1232 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    The Affordable Care Act (2009) and the Health Security Act (1993) were two attempts made to reform the U.S. healthcare system. In 1993 the Clinton administration fought to better the system and provide comprehensible healthcare coverage to its citizens. This bill however was shot down in the legislative system and never made it into law. Then in 2010 the Obama administration squeezed their updated version of the bill through the House and Senate in a very narrow, partisan victory. The reasoning behind why the Clinton’s attempt didn’t get passed came down to two reasons. First it was highly criticized and opposed politically. Secondly it was a matter of concerns about the actual content of the bill.…

    • 547 Words
    • 3 Pages
    Satisfactory Essays