|7 Reasons Why Obamacare Has Become The “Unaffordable” Care Act For The US Economy|
|keywords: health care cost healthcare expenditure Obamacare Unaffordable Care|
Although the Democrats support the Affordable Care Act (popularly dubbed as Obamacare) wholeheartedly, there are serious flaws in it but they don’t care because to admit this would be to admit Obamacare was a ridiculous law to begin with.
With the latest findings in terms of affordability and public money expenditure, it should better be called the Unaffordable Care Act!
The seven most notable reasons why Obamacare is the Unaffordable Care Act are the following:
Obama had promised that an average family would save as much as $2,500 a year by opting Obamacare. That did not occur in reality.
The DHHS (Department of Health and Human Services) reported in 2017 that instead of health insurance costs going down, the average premiums actually became twice the costlier since 2013. However, the average incomes of families did not rise proportionally.
A study by the Urban Institute stated that, in 2018, the high-cost healthcare insurance plans have become costlier by 19 percent while the lows cost plans have become more costly by 32 percent. However, the prices of products and services, known as inflation, were not more than 2 percent in the same period.
Entitlement spending went up to the sky due to the Obamacare plan. The most accurate projection of budgetary cost due to ACA subsidies and expansion of Medicaid from 2018 to 2027 now stand at $4.8 trillion. That is a huge cost for the tax payer.
Giving money to the lazy and taking it from the hard work does not make society happy.
Obamacare was supposed to be a National Health Care cost reducer. Instead, the costs have gone up palpably.
The year before the implementation of Obamacare, 17.2 percent of US GDP was invested in Health Care. It became 18.3 percent in 2017.
That 1.1 percent raise equals to an additional cost of about $200 billion in health care spending. The health expenditure is forecasted to consume 20 percent of GDP by 2025.
Kaiser has revealed that the employer-provided insurance coverage deductible per head was $1,221 last year.
That amount was $303 in 2006. As a matter of fact, deductibles go up as premiums go down. So, for a hospital bill, you would pay more for less coverage under the despicable ACA.
The federal statistics and state numbers of insurer options reveal that there is a single insurer for more than half (50 percent) and only two insurers for more than 30 percent of the counties in the US in 2018.
So, when you choose to go with Obamacare, roughly 4 or 5 counties would be left with a maximum of two exchange insurer options.
Medicaid enrollment is a common phenomenon for people who have opted for Obamacare. From 55 million, Medicaid enrollment has reached 74 million after the implementation of ACA.
However, Medicaid is not accepted by a lot of hospitals and health care organizations because they don’t pay in a timely manner so it’s basically a bunch of patients trying to rip off the system. So, you cannot choose your preferred doctors, treatments, and hospitals even when you are paying for it.
The then President Obama on April 1st, 2014 had declared that Obamacare would bring “everybody” under the umbrella of health insurance. The reality is however different. According to stats, nearly 30 million Americans are still uninsured.
Also, why would you pass a plan that punishes businesses for hiring people?
The only reason behind all these anomalies is that the ACA is unaffordable for the average family and it a terrible policy in the first place.
In a nutshell, while billions of dollars are being spent in the name of Obamacare, which has subsidized the insurance costs so that Americans opt Obamacare and increased the federal budget palpably and; nearly 1 in every 11 Americans has no insurance coverage.
What could be a bigger failure of public policy than this?
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