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What Exactly Is Obamacare?

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What Exactly Is Obamacare?

Postby Arndell » Mon Oct 09, 2017 9:21 am

Obamacare is demeaning term for the Affordable Care Act. It just requires everyone to be insurance. It creates a functional marketplace for health insurance and provides tax credit for some to buy their own. Private insurance companies sell the policies on the exchange.


Conservatives are against it because they do not understand how it will work or how it will reduce the deficit.


Let me explain how the Affordable Care Act will be used to provide affordable health insurance using an example with a real-life family. " ... as the Devers family in Washington State found out, although their mini-med plan was affordable (just $300 per month for a family of 5) it provided no protection from medical bankruptcy. As the Seattle Times article relays, when Preston Devers, the father, required knee surgery, the family's insurance covered just $6,000 of the $35,000 cost for a six-hour hospital stay. The family is now left with a $25,000 bill from that surgery and is also facing huge bills for emergency room charges, hospitalization and surgery for their son Cole?s ruptured appendix." http://www.healthbeatblog.com/2010/12/mi...

Once all the provisions of Affordable Care Act were in the effect and if the Devers got their insurance from the health insurance exchange, they would have paid only $4,167 in one year for out-of-pockets expenses and $3,385 in annual premiums or $282 a month in premiums after using the tax credit.

Because their family income is too high for Medicaid assuming their income is $50,000 per year, there is no Medicaid for them, Because their income is under the 400% threshold of poverty level, $88,000 a year, instead of paying $20,000 in the expected premiums for their family, they will get tax credits that will lower their annual premiums to $3385. Without the ACA, the Dever can expect pay for $20,000 for standard insurance or $3600 for substandard insurance. With the ACA, the Devers can expect to pay $3385 a year for standard insurance. There is no substandard insurance under the ACA because of the medical loss ratios.


ACA achieves all that without increasing the debt. The additional tax revenues come from high income individuals and businesses that will benefit from newly insured. More than half of the ACA is paid for by spending cuts elsewhere.

See the link for how the Affordable Care Act is paid for from the right leaning think tank, The Tax Foundation, an organization priased by Rep. Paul Ryan. http://www.taxfoundation.org/publication...
Arndell
 
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What Exactly Is Obamacare?

Postby Cadwaladyr » Wed Oct 11, 2017 2:39 am

Obamacare is the Patient Protection and Affordable Care Act.
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