https://www.americanprogress.org/issues/economy/news/2020/09/29/490881/repealing-aca-put-millions-risk-giving-big-tax-cuts-wealthy/?gclid=Cj0KCQjw8fr7BRDSARIsAK0Qqr5YX2VpqjFWhK-LNOGrk1-dhaCBY650hA3oHAdYQAw7gCbnTSgkAYMaAno5EALw_wcB#Ca=3%23Or=1%23Pr=7%23IA=R
The Affordable Care Act helps millions of Americans in getting affordable health insurance and was created during the Obama administration. This is done by subsidizing insurance companies, raising the standards for what they must provide, and reducing costs for low-income families. It also excludes overcharging for those with preexisting conditions. It also prevents those receiving aid to keep their coverage if their income rises unexpectedly. More people, thus, are insured under this act. Trump has been open about repealing the ACA which could put more families at risk and unable to afford basic healthcare, which could be problematic during the COVID pandemic. This could also cause the loss of middle-class jobs and services families need.
What do you think are some other effects of repealing the ACA?
After reading this, I was curious why President Trump opposes the ACA, so I looked into it further. Based on what I found, I would assume that repealing the ACA would lead to lower taxes, less regulation on the marketplace for insurance, and maybe help the middle class. When the ACA was passed, it resulted in raised taxes and took Medicare funding to expand the role of Medicaid. Ultimately, placing more people on Medicaid and hurting insurance markets. Insurance companies faced new regulations on the market, to where every insurance plan basically has to be the same. This high level of standard took away competition and choice in the market place. Then, it was noted that the middle class particularly were hurt by these changes, as they were not poor enough to be put on Medicaid while also not being rich enough to afford the new premiums from the regulations.
ReplyDeleteI am not saying that I am fully right in my response, it was hard to find reasons that supported the ACA being repealed, but based on what I did find, these are my assumptions.
The effects of a repeal are really unknown because we don't know what could replace it, if anything. Obviously, more people will be without healthcare if it is, but they could choose to still not overcharge for pre-existing conditions. This is part of the iron triangle problem because you can’t give everyone coverage, while giving them low cost and quality care.
ReplyDeleteI think one issue would be that private debt might increase. If ACA is repealed then many people will not be able to afford health insurance, so they may just go without it. That means less money flowing into the insurance industry, which may raise cost for others. It also means that if someone has a medical procedure, either by an accident or elective, then they will go into a high amount of debt. A high level of debt has lasting consequences for that person in debt.
ReplyDeleteI agree with Mayson in that repealing the ACA would lead to more people would have to pay much more for insurance and medical bills if they had no insurance
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