As many of us are all too aware, there has been a great deal of controversy in terms of our health care. However, although many of us are aware of President Obama’s plans for better health care for everyone, we are unsure as to just what the pros and cons of this opposed plan is. Many of the points could be deemed as less important than others, so let’s take a look at the main issues which have risen from the Obama health care plan.
The main advantage which none of us can deny is the change which will see up to 32 million uninsured American civilians see the health care coverage they need. Due to this, we will see an estimated 95% of our population covered by some form of health insurance, including those who gain a low level income or those who cannot typically afford health care insurance. Along with the higher percentage of civilians who will be provided with health care, the new plan will change the ways in which insurance companies deal with ‘high risk’ policies where civilians have lost their jobs as a result of injury or illness. Under the regulations of this new plan, insurance companies will no longer be allowed to simply drop coverage on an individual. They will also not be able to deny coverage to any individual who has an existing illness or condition which was identified prior to their purchase of their insurance policy with said company. Children will now be able to stay on their parent’s health care plan until they reach the age of 26, unless they are offered a health care plan through their employment. This will lower the level of uninsured younger individuals who typically would not be able to pay for insurance themselves following college leave and a lack of employment. Finally, insurance companies will now have to spend at least 80% of their premiums on actual medical care for those under their policies. Insurance companies are also now disallowed to charge more for comparable policies which are outside of the marketplace.
However, along with the advantages come the disadvantages. Following this plan, there could be an estimated total of $94 billion spent every year on health care for Americans. With this huge sum of money, there is a chance that the cost of premiums will increase, costing us more money. This is due to insurance companies claiming that they will be unable to cope with the financial burden which will follow from having to carry high risk policies. Along with this reform, we will also see an increase in our taxes in order to help pay for these changes. The Individual Mandate states that we could see an increase of 2.5% tax as a penalty if we refuse or fail to purchase health insurance. There will also be a tax increase on expensive health care plans. For many Americans, the main disadvantage of the Obama Heath Care Plan is the lack of public involvement. This option would have allowed for a government run health care option which would be available to citizens regardless of their current state of health or annual income. Most of these changes are also not due to take effect until 2014 which could potentially see us with a new President in power meaning that Obama’s ideas and visions may not even be taken into true effect.
In short, the Obama Health Care plan carries both good and bad points. While many of us are happy to see affordable health care finally becoming available, many are unsure if it is truly worth it when we take into consideration the extra costs we will eventually face- what’s your view?
Obama Health Care
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