In 2010, President Obama celebrated a landmark piece of legislation that he labored dutifully to get through Congress during his first years in office. This legislation, the Affordable Care Act (ACA), represents more than just a policy on health care in the United States. The new law, which took full effect in the subsequent years, reformed the health care system in the United States, notably requiring the vast majority of Americans to hold qualifying health care coverage. Those citizens lacking an adequate health insurance policy for any part of the year incur a tax penalty collected by the IRS via the tax return process (IRS, 2016). According to Weil (2016), of the Library of Economics and Liberty, fiscal policy is the government influencing the economy with taxes or government spending. Hence, the ACA utilizes a fiscal policy to influence the economics of health care, namely attempting to heighten coverage among Americans and change the dynamics of the health insurance in this country. In this case, lawmakers did not see reform on the supply side of insurance as enough and opted to create an additional tax on individuals to increase demand for coverage. Furthermore, the ACA imposed a tax penalty on certain businesses if those organizations do not provide a proper level of healthcare offerings to their …show more content…
I studied John Stuart Mill’s utilitarianism in an ethics class a few years back and from a 30,000-foot. view, this position makes sense. After all, shouldn’t the government maximize the health and well being of the greatest amount of people? Taken to its conclusion though, utilitarianism can lead to policies that disrupt the individual freedoms so valued by Americans and their Constitution, freedom ideals heavily influenced by philosophers like John
The Affordable health care act, popularly known as Obamacare, it’s a law that makes affordable health care available to more Americans since there are million of uninsured Americans and it will be cutting the rising cost of health insurance. Because of this law that grants coverage to everyone, it is increasing the rate of demand and consumer expending, making a great impact in the economy especially to GDP and economic growth. Also, not only there’s an increase in spending but also the labor market has been growing, since the employment rate has been increasing in the health care sector. While providing insurance to every American, it is generating major benefits to the newly insured like improving health, enhancing families security, increasing
The Affordable Health Care Act, also known as “Obamacare”, is basically just Obama trying to make sure that the whole nation has insurance and if they do not have it by January 1, 2014, they will be penalized with a fine. To make insurance more affordable, many Americans are able to qualify for a subsidy that lowers the cost depending on age and income. Also, “Obamacare” made it impossible for insurers’ to discriminate, or charge higher rates, for anyone who has pre-existing conditions or for a certain gender. Medicare will also be easier to obtain due to requirement of insurance. This law was passed in the U.S. on March 23, 2010 by Congress and President Barack Obama.
“Healthcare Reform 101,” written by Rick Panning (2014), is a wonderful article that describes, in an easy-to-understand language, the Patient Protection and Affordable Care Act, signed into law March 23, 2010. The main goal of the Patient Protection and Affordable Care Act was to provide affordable, quality healthcare to Americans while simultaneously reducing some of the country’s economic problems. Two areas will be covered throughout this paper. The first section will include a summary of the major points and highlights of Panning’s (2014) article, including an introduction to the ACA, goals of the signed legislation, provided coverage, and downfalls of the current healthcare system. The second part will be comprised of a professional
The affordable care act is a United States statue signed into law by President Obama in March of 2010. It represents the most significant improvement to the U.S. healthcare system since 1965 with the addition of Medicare and Medicaid. Also known and commonly referred to as Obamacare, it was enacted to increase the affordability and quality of health insurance, diminish the rate of the uninsured by expanding public and private insurance coverage while reducing the cost of healthcare for individuals and the government. This law will require Hospitals and doctors to reconstruct financial practices along side with technologically and clinically to advance better outcomes, reduce cost and improve methods of accessibility.
The Affordable Care Act was a health care act that was established by the federal government to expand and improves access to care and curb spending through regulations and taxes. Each state could decide to participate or not. The act was adopted as law by US Fisher02 President Barrack Obama in March 2010. The goal of this act was to reform the current health care in the United States.
With this report, large employers are required to provide information to the IRS, such as statements, that show information about the health coverage that is being offered. This information is then used by the IRS to determine whether penalties are due from the company supplying the information. Penalties One of the main portions of the Affordable Care Act was the section that required employers to provide health insurance coverage to their employees. If they were not able or willing to provide the minimum mandate, these employers were to be faced with a penalty that must be paid to the IRS.
The ACA, passed in President Obama’s first term, mandates that all Americans will need to purchase healthcare or pay a tax. In addition, the plan also provides subsidies for middle class families and contributes to the overhaul of the healthcare system (Amadeo, 2017). The ACA represents major intervention by the federal government in the health care system. Again, the fundamental differences between the parties were present in the voting over this legislation. When the bill was in the Senate, it passed with support of all 60 Senate Democrats and two Independents.
Introduction A. The Affordable Care Act (ACA), also known as The Patient Protection and Affordable Care Act (PPACA), was created in 2010 under the President Obama administration. It is designed to reform the current healthcare system by offering more health insurance options at affordable rates. The reform aims to provide individuals with more health insurance options, alleviate out of pocket costs, and prevent gender discrimination. The basis of providing millions of Americans with quality health insurance options greatly benefits a majority of individuals.
(Chaikind, Copeland, Redhead, & Staman). Supporters of the act contest that the requirement to purchase health insurance is economic in nature because it regulates how an individual participates in the health care market, through insurance or otherwise. The inverse is stated by opponents that Congress cannot have the power to require a private citizen to have insurance and because there is a tax penalty attached to it it is unconstitutional. (Chaikind, Copeland, Redhead, &
Nearly every citizen of the United States (U.S.) can attest to the fact the current election does not have a perfect candidate running for office. Most people will also agree that this election is incredibly significant because it will determine the path that this country takes. With all this in mind the first candidate running for the office is Hillary Clinton on the Democrat and liberal side. She has a strong background in politics, including her position as Secretary of State for the U.S. for four years, being the First Lady during Bill Clinton’s two term presidency, and being a senator for New York during a 9 near period. The other candidate is Donald Trump on the Republican and conservative side.
The United States has multiple health care options such as Obamacare, Medicare, Medicaid, and health insurance through employers or on their own. Most of the people living in the United States, around 70% of individuals, get health insurance through their work or union. Other individuals get insurance on their own or a family plan. Some averages of individual and family premiums and deductibles are around a $280/month premium and $4,120 deductible for an individual, while for a family plan it is around $930/month premium and $7,760 deductible.
Patient protection and Affordable Care Act ,commonly known as Obamacare, was passed in its finality on March 21, 2010 and signed into law by former President Barack Obama on March 23, 2010. Many disliked the idea of Obamacare due to the fact that it was forced on employers to pay for health insurance. It got shut down by the people's views on it quick , Obamacare wasn't really given a chance. Thought it had a great deal of benefits people just choose to focus on the negative parts. Which brings up a lawsuit like Obamacare Versus The Little Sisters of the Poor.
Obamacare or the Affordable Care Act was signed into law in 2010 by President Obama. There are many changes that will and are happening because of this law. Citizens cannot be turned down for coverage because of preexisting conditions, and everyone is required by law to have health insurance coverage. Those citizens who cannot afford coverage will be able to get assistance paying for it unless they are under the poverty level. Those citizens will be able to get Medicaid if their state expands coverage.
The Patient Protection and Affordable Care Act commonly known as Obamacare was signed into a law on March 23, 2010 by President Barack Obama.1 In July of 2009, Speaker of the House Nancy Pelosi along with a group of Democrats from the House of Representatives disclosed a plan that included reform within the healthcare system introducing the Affordable Care Act.2 On September 17, 2009 this bill was introduced in the House and a few weeks later the bill was passed/agreed on. In December 24, 2009 the law was then passed in the Senate. On March 21st, 2010 with resolving differences, the house agreed to the changes to the law made by the Senate and the plan was approved by the House in a 219-212 vote. On March 23, 2010 the law was signed into an
Before the Affordable Care Act was put into work, over 45 million Americans were uninsured. The Affordable Care Act, also known as Obamacare, was then made to help those who were uninsured. It allowed people with financial struggles with the same opportunity as everyone else to have a healthcare plan. Even though the law was passed in 2010, it took a full year of back and forth to get it passed in the Senate. Obamacare may help you get coverage, but charge you an annual fee if you don’t have one.