So, one of the largest issues this election is most definitely healthcare.
Both candidates are making major claims on the status and direction of the entire health care system. As we all know the Affordable Care Act that was implemented by the Obama administration has been under attack since day one. Here are a few things that you should know from both party…
President Obama’s stance:
Since he has already implemented the Act, he is standing solidly behind it and trying to make sure that it is severely enforced. Here are a few of the pros and cons:
- Pro-He has mandated that insurance companies cannot deny children coverage for pre-existing conditions. This benefit applies to everyone in 2014. Insurance companies can no longer drop anyone from coverage once they get sick. If a company denies someone coverage, that person can go to an external appeals process.
- For people who can’t afford health insurance, the Federal government will pay the states to add them to Medicaid. The income requirement is expanded up to 133% of the Federal Property level – roughly $29,000 for a family of four. Those who don’t qualify for the expanded Medicaid will receive tax credits if their income is below 400% of the poverty level ($88,000 for a family of four). States will be required to set up insurance exchanges to make it easier to shop for private health insurance coverage.
All good things, right? I think so. But here are a few of the cons to the continuation of the Affordable Care Act
- Increased coverage may actually raise health care costs. That’s because many people will receive preventative care and testing who, fortunately, find out they didn’t have that critical illness. However, the CBO found that additional testing, such as cancer screening and cholesterol tests, will lead to higher net medical spending.Those who don’t purchase insurance, and don’t qualify for Medicaid or subsidies, will be assessed a penalty of $95 (or 1% of income, whichever is higher) in 2014. It increases to $325 (or 2% of income) in 2015, and $695 (or 2.5% of income) in 2016. About 4 million people, or 1.2% of the population, will wind up paying the penalty rather than purchase health insurance. The CBO estimates this will total $54 billion in penalties.
- Pharmaceutical companies will pay an extra $84.8 billion in fees over the next ten years to pay for closing the “donut hole” in Medicare Part D. This could raise drug costs if they pass this onto consumers. ( I see a major problem here because the majority of prescription medicine users are the elderly, who live on extremely budgeted incomes.)
Governor Romney’s plan for healthcare:
On his first day in office, Mitt Romney will issue an executive order that paves the way for the federal government to issue Obamacare waivers to all fifty states. He will then work with Congress to repeal the full legislation as quickly as possible.
Once he does that he wants to do the following:
- Restore State Leadership and Flexibility
- Promote Free Markets and Fair Competition
- Empower Consumer Choice
Sounds like a decent plan but, let’s not forget that how the healthcare system has always been. Many states may decide to just let their system remain the same, or with more state flexibility, they may decide to makes things far more stringent and change the dynamics of who is now allowed to participate in programs like Medicaid. We all know that many states are currently suffering financially, so this would be a way to drastically cut their deficit and fund other programs that may not be as important to the states’ citizens as they are to the government.
Theses are all things that we need to consider before we go to vote this November. Again, like I always say don’t just take my word as the gospel, please get out there and do research and see how theses topics affect you and your loved ones. And don’t only look at the short-term effects. Remember that most of these policies that the two plan to or have enacted will affect many generations to come.
And take a look at the article below. Have any of you received notice from your employer about receiving a rebate from your company’s insurance provider? If you have please comment and let us know. You don’t have to disclose the amount that you are receiving, but I personally have not received anything from my employer, and until I came across this article on MSN today, I had never heard of it. Where is the money????!!!
Educate yourself, people!
Just one of ‘fatboyfavs’