Obama Care And It's Negative Effects On The US Research Paper

Name1Name: Professor Name:Title: Obamacare and its negative impacts on USDate: Obamacare and its Negative Impacts on US Obamacare also called as “Patient Protection and Affordable Care Act (PPCA) which is signed by American president Obama in order to provide affordable health insurance to the American citizens by reforming health care industry and insurance industry. Obamacare made about ten millions of middle-income and low-income to access the quality health care by this Affordable Care Act. But it’s also having many negative impacts on the US citizens. Survey reporting that obamacare will affect the doctors, small business, economy growth, hospitals, Employers, etc, of The United States of America. Due to the Affordable Care Act several millions of American citizens will lose their current health insurance plans and also 80 percent of individual people will lose their policy in the individual market. People who all are self employed are mostly buy themselves a health care policy from the open market. Obamacare act regulations affect those plans by imposing them to provide full coverage or more complete coverage then they provided before. Many plans couldn’t fulfill these requirements get affected and also those policy holders. And, also healthy Americans who are all mostly looks for individual coverage will get affected by raise in their premiums about doubled or even tripled under this Affordable Care Act. Name2 Another negative impact of Obamacare is imposed on the small business companies. According to this act, companies which all are having more than 50 employees should provide health insurance to their workers. Small business companies having less than 50 employees will not get affected by this Obamacare. Even those small business companies are not affected due to obamacare but those companies future growth gets affected. Because those small business companies won’t expand, they all are likely to keep their employees below 50. Many small companies which are planned to expand their business in upcoming years felt that they cannot afford due to this Affordable Care Act. Hence those companies decided against what they planned earlier. Companies which had 60 to 70 employees made their few full time employees to part timers in order to escape from the Affordable Care Act by keeping below 50 employees. Hence because of Obamacare many small business company employees also will get affected. Providing health insurance for their employees is mandatory for the large companies due to the Affordable Care Act. Many companies are likely to drop employer’s spouse, children from their insurance plan. Because adding their family members will made the health care policies costly and also it will made the health care decisions complex. So many employers family is dropped out from the insurance policies due to the Obamacare. This is another big negative created by the Obamacare to the American citizens. So employees should buy health care policies separately for their spouse and children. This will surely affect the middle-income citizen’s family since the premiums are doubled for individual coverage under the Affordable Care Act. Name3 Another negative impact is Affordable Care Act exchanges limit the access to the some of the top ranked hospitals and cancer centers. So US people cannot get their treatments in the hospitals with their choices, due to this many health care policies are sold on healthcare exchanges. And, also obamacare affects many hospitals too. Many hospitals are pushed to focus more on the patients who all are gets discharged after the treatment. This will made hospitals appoint a nurse separately for them to make sure you are following the prescriptions. This will affect many hospitals having limited resources. And, also Obamacare forces physicians to make their medical records as electronic records instead of handwritten records. Upgrading to electronic records is more expensive. This made many old physicians to retire rather spending that much money. Doctors are also gets affected due to this new rule by getting paid less than what they got before. Obamacare also affects young and healthy workers. According to the new rule if they won’t purchase an insurance plan then they should pay penalty income tax of about $95 or 1% of their income for the first year and it will increase to $325 or 2% in second year and $695 or 2.5% of income. If those young and healthy workers wants to buy an insurance plan under Affordable Care Act, that also will be expensive for them. They pushed to pay 140 percent more than the cheapest policies. The premiums are raised by age wise for the youngsters. About 45 percentage of increase in the premiums from the age of 18 to 24 and 35 percentage of increase in the premium from the age 25 to 29. By this way Obamacare affects the young and healthy workers badly. And about 1.2% of the population pushed to pay the taxes rather than buying health insurance plans due to this Obamacare. Name4 Taxes are raised for the US citizens according to the new rule. And individuals and couples jointly pushed to pay 2.35% of their income for Medicare taxes which rose from 1.45%. Affordable Care Act made the pharmaceutical companies to pay 84.8 billion dollars more for the next ten years. This will leads to raise the price of drugs if those companies imposed their pressure onto consumers. Raise of the drugs prices will surely affect many US people in some aspects. Taxes are raised for insurance companies, medical device manufacturers, importers, indoor tanning services. Insurance companies are required to pay 40% excise tax, medical-device manufacturers and its importers are pushed to pay 2.3% excise tax and indoor tanning services should pay 10% excise tax. These raise in the taxes will surely affect those companies and restrict them to hire more employees. According to the many economic experts, obamacare will also create several economic problems on US. National debt is already added with 6 trillion dollars since president’s inauguration. The individual American’s share in that dept also jumped to 52,244 dollars from 20,000 dollars. This affects many middle-income and low-income people of the US. Hence many American people worried about this premium raise in the policies, penalties for those who not purchased the insurance policies will surely affect their economy in the upcoming years. 29% of raise in the health care premiums for families and 25% of raise in the health care premiums for the individuals is adding with their economic woes. The estimated cost of Obamacare is about 1.1 trillion dollar for the next ten years will surely have a greater impact on the economy growth of the America. Name5 Affordable Care Act also affects Medicare beneficiaries. For medications they should pay more under this Affordable Care Act. It affects 5% of the Medicare beneficiaries. And, also the premiums of Medicare will also rise because of the Obamacare. The premiums are increasing due to the every year raise in the health care costs. Many companies like Stryker corp. are badly affected due to the Obamacare. That company removed about 1000 employees earlier this year in order to face the Affordable Care Act’s excise tax. And, also that company expects it will cost about 100 million dollars next year. And, also another company named Welch Allyn pushed to remove its 10 percentage of employees due to the medical-device tax, a British company Smith & Nephew are announced to its 100 employees about their current situation and removing. And also many Educational institutions affected due to the Affordable Care Act. Many universities reduced the working hours of their part time employers, full time employers and dropping out their spouse from the insurance policies in order compensate the costs imposed on them by the Obamacare. And, also in many schools teachers, coaches working hours are reduced below 30 hours week. Obamacare also affects many restaurants and the food industry and many corporations like IBM, Delta air lines, UPS, etc. IBM announced that it may remove about 110,000 medical-eligible retiring employees from its health insurance policies and those employees may receive the subsides from the company in order to buy the coverage under Affordable Care Act. Those employees are affected by this because they won’t get much coverage under Obamacare as they get from the company. Name6 Many Hospitals and its employees are mainly affected due to this Affordable Care Act. Cleveland Clinic one of the best hospitals announced its 6% of its annual budget is affected due to this Obamacare and it also affects the jobs provided by the hospital. And, also many hospitals like Orlando Health, Delaware Hospice, Clifton Springs Hospital, Anthem Blue Cross Blue Shield, etc are also affected by the Obamacare. Many State and Local governments are also bearing the effects of Obamacare. State of Virginia, Township of Middletown, Brevard County, Township of Berkeley are the state and local governments which reduced the working hours of its employees due to the Affordable Care Act. So overall because of Obamacare Hospitals, Schools, Major Corporations, Small business companies, Doctors, Youngsters, retirees, spouses are all affected even the Obamacare may impose many positive impacts on America. Works cited1. Andrew Johnson, “100 Unintended Consequences of Obamacare”, October 1, 2013, < http://www.nationalreview.com/article/359861/100-unintended-consequences-obamacare- andrew-johnson>. 2. Andrea Adleman, “Will Obamacare Affect Medicare? Myths and Facts”, October 15, 2013, < http://news.yahoo.com/obamacare-affect-medicare-myths-facts-143827484.html>.3. Scott Erickson, “The Economic ill Effects of Obamacare”, October 10, 2013, < http://townhall.com/columnists/scotterickson/2013/10/10/the-economic-ill-effects-of- obamacare-n1720958>.4. Kathleen O’Brien, “5 ways Obamacare Affects Hospitals, Doctors and More”, Sep 28, 2013, Name7 <http://www.nj.com/news/index.ssf/2013/09/5_ways_obamacare_affects_hospitals_doctors_and_more.html>. 5. David Nather, “How Obamacare Affects Large and Small Business”, September 30, 2013, < http://www.politico.com/story/2013/09/how-obamacare-affects-businesses-large-and-small- 97460.html>. 6. “Top 5 Negative Impacts of Obamacare”, August 21, 2013, < http://www.bankruptingamerica.org/the-top-5-negative-impacts-of- obamacare/#.Uqb1sCj4Ki5>.7. Kimberly Amadeo, “Obamacare Pros and Cons”, 2013, < http://useconomy.about.com/od/healthcarereform/a/Obamacare-Pros-And-Cons.htm> .8. Benji Backer, “Obamacare’s Negative Impact on Young People”, October 11, 2013, < http://www.freedomworks.org/blog/benjibacker/obamacares-negative-impact-on-young- people>.9. R.W.Hafer, “Obamacare: Less choice, Higher taxes, slower economic growth, Sep 9, 2013, < https://www.stlbeacon.org/#!/content/33000/voices_hafer_aca_092713>.10. Mary Lou Byrd, “Obamacare’s catastrophic effect on one town”, November 25, 2013, < http://freebeacon.com/obamacares-catastrophic-effects-on-one-town/>