Shebudgets
There is much controversy about Obamacare and the Affordable Health Care Act. While there are a number of people that feel the program isn’t in the popular favor, that may exclude some of the positive things that it has to offer. There are many things about Obamacare that will benefit those who utilize the program. Read on to find out 15 good things about Obamacare.
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Pre-Existing Conditions
The one good thing about Obamacare is that no one will be denied health insurance anymore because of a pre-existing condition such as pregnancy, cancer or anything in between. In the past, anyone with a pre-existing condition who attempted to apply for coverage was automatically denied, causing extreme financial need.
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Payouts
Obamacare will also put an end to lifetime limits on payouts. What this means is that people with insurance will not be limited to what their policy will pay out over time, which only makes sense considering many of the people who are applying for coverage under the new affordable healthcare act have pre-existing – read: expensive – conditions.
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Dependents
The good news for college students and kids who don’t have jobs with benefits is that they can stay on their parent’s policies for several additional years. Under Obamacare, dependents up to the age of 26 can remain on their parent’s policies. This is great news for those who are focusing on their education and not working.
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Premium Equity
Those with pre-existing conditions might worry that insurers will charge them significantly higher premiums since their policies are guaranteed to cost more, but they can’t. The new policies require all insurers offer fair pricing to those who qualify.
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Age-Related Premium
Another benefit of Obamacare has to do with age. As people get older and tend to need more healthcare and coverage, many insurers will up their premiums and make them pay more. Under Obamacare, insurance companies will not be allowed to do this, making age-related premium increases illegal.
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Medicare Drug Plans
For most seniors who have Medicare, they only have so much coverage in terms of prescription drugs. In 2013, the coverage stopped at just over $2900 per year. This hole is being filled by Obamacare, offering those who use Medicare the chance to have their prescription drugs covered up to $4750, with hopes that this hole will close completely by 2020.
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Preventative Services
For those who utilize the benefits offered by Medicare, they now offer an expanded menu of preventative services to customers. Before, Medicare users were limited as to what the plan would cover in terms of preventative care, but now the plan covers far more and allows seniors to get a jump start on finding potential health problems much sooner and for much less.
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Women’s Preventative Services
There will be no co-payment or deductible in terms of eight additional women’s screenings. Women under Obamacare have the option of getting screening and benefits in terms of breastfeeding, contraception and HIV screening and counseling, among many others, at no cost to them. This means women do not need to meet their deductible for any of these and they will be free no matter what.
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Children With Pre-Existing Conditions
Many children are denied insurance regularly because they have pre-existing conditions. Under the new Obamacare plan, this will no longer be the case. Children with pre-existing conditions will be eligible to receive health care benefits from insurance companies as long as they are under the age of 19.
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Health Coverage Reports
Thanks to Obamacare, consumers will now receive standardized reports detailing their health coverage, what’s available to them and what it all means. These reports require that insurers make everything understandable to those who read it. This allows people to compare insurance plans easily and without confusion, as so many plans seem to confuse people based on how they are explained and presented.
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Medical Loss Ratio
Insurance companies are now required to spend 85 percent of their premium dollars on health care expenses. Obamacare wants to ensure that health care companies are not pocketing all the profits, instead requiring them to spend the money on healthcare and even on rebate shortfalls for their consumers.
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Prescription Drug Discounts
Since the Affordable Care Act was introduced, seniors have already saved $1.5 billion on prescription drugs. Regardless how we might personally feel about the plan, this is something that’s difficult to dislike as seniors are often subject to fixed incomes and very little excess spending money. There have been more than 2.5 million seniors able to save money on prescription drugs thanks to Obamacare.
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Tax Deduction
Nearly 4 million small businesses in America are now eligible to receive a tax deduction simply because they are providing their employees health coverage. Nearly 2 million previously uninsured American employees have health coverage now that Obamacare is in effect.
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Affordability
Ignoring that fact that millions of Americans who were already paying for health care no longer can afford the exorbitant new plans offered thanks to Obamacare, those who were not offered coverage from their employers and those who couldn’t afford individual plans prior to Obamacare can now afford to pay for insurance that has great benefits, great coverage and costs that are in the double digits.
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Someone is Doing Something
Many people couldn’t afford health care for many years, and no one did anything about it. Now they are doing something about it, even if there seem to be more negatives for some than for others. Healthcare is now in the forefront of everyone’s minds and it will hopefully only be a matter of time before changes are made that benefit all Americans rather than just some.
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