Good Essay About Obama Care

Name1Name: Professor Name:Title: Obamacare and its Economic impacts Date: Obamacare and its Economic impacts Patient Protection and Affordable Care Act (PPCA) is a act passed by American president obama is also called as Obamacare. The main goal of Obamacare is to provide affordable health care policies to all Americans by reforming insurance and health care industry. Even though it provides many good things to the Americans, it has some economic impacts too. Obamacare affects Doctors, Hospitals, Corporations, Small business companies, Medical device manufacturing companies, Insurance companies and even some consumers too. Affordable Care Act’s new regulations affect many doctors and physicians in the America. According to the new regulations made by Obamacare, doctors and physicians should keep their patient’s medical records in the electronic format instead of keeping those records in handwritten. Many doctors and physicians badly affected by this new rule because updating those records in an electronic format is expensive. And, also few surveys report that many old doctors and physicians in America are going to retire instead of spending that much money to keep the records in electronic format. Another impact on doctors is they are going to get paid less than what they got before for the treatments due to the Obamacare. Name2 Many hospitals and institutions are also affected by Affordable Care Act. Because of the new regulations, hospitals should focus on the patients after they got discharged from hospitals. This is really a difficult job for hospitals to make sure every patient following their medical prescriptions by appointing a separate nurse instead of conforming it by making a phone call. Many hospitals in America like Cleveland Clinic, Orlando Health, Delaware Hospice, and Clifton Springs Hospital are economically affected by Obamacare. Recently Cleveland Clinic hospital reported that their 6% of annual budget is affected due to the regulations made by Obamacare. Obamacare made companies having more 50 employees should provide health care policies for its employees. This new rule affected many corporations, institutions, small business companies, etc. Many educational institutions, universities reduced the working hours of full time and part time employees because of the impact made by Obamacare. And, also they dropped their worker’s spouse, children in their health insurance policies. Insurance companies are also gets affected due to the new regulations of Affordable Care Act. Obamacare regulations pushed many insurance companies to provide full coverage that what they provided before to their policy holders. This badly affects many insurance companies because providing full coverage to each and every policy holders is very expensive and difficult for them to afford. And, also changing the plans which already made will surely destabilize the market. Obamacare affects the insurers by messing their set of rules, their ability to set prices for the policies and their profit. This will surely affect many insurance companies in America like United Health Group, Humana, and Kaiser Permanente. Name3 Affordable Care Act also affects many consumers in the America. About 80% of the American people will lose their insurance policies which they purchased in the open market. And, Obamacare sets the limit to access the many good hospitals in America. So Americans cannot get their treatment based on their won choices. Young and healthy workers of America badly affected because they should pay more than 140 percent when compared to heir cheapest policies in order to purchase a health care policy under Obamacare. And, if they failed to purchase a health policy under Obamacare means they should pay penalty of 95$ or 1% of their income for the first year. The penalty is increased for the upcoming years rapidly. About 1.2% of American people are pushed to pay taxes rather than buying insurance policies because of the Obamacare. According to the new regulations consumers who all are individuals and couples should pay 2.35% of their income. Companies dropping their worker’s spouse, children form their health insurance policies made the workers to buy individual health care policy for them under Obamacare which is expensive. This badly affects the middle-income, low-income families. And, also many small companies reduced their number of workers below 50 in order to escape from the new regulations made by Obamacare which leads to rise in the unemployment rate. Even though Affordable Care Act having many positive impacts on the American people, no one can deny that it will also badly affects many doctors, hospitals and institutions, insurance companies, consumers and the economic growth of the America.Works Cited1. Kathleen O’Brien, “5 ways Obamacare Affects Hospitals, Doctors and More”, Sep 28, 2013, <http://www.nj.com/news/index.ssf/2013/09/5_ways_obamacare_affects_hospitals_doctors_and_more.html>.2. 7. Kimberly Amadeo, “Obamacare Pros and Cons”, 2013, < http://useconomy.about.com/od/healthcarereform/a/Obamacare-Pros-And-Cons.htm>.