From Obamacare in 2010s, the U.S. health care system has come a long way. However, major fixes are still required to make it easily accessible by the whole population.
Despite many protests from the Republicans, the last 10 years brought the Affordable Care Act (ACA), one of the major ‘health-care legislations’ signed by Obama. However, its future in 2020 is not certain, especially after Trump’s constant efforts to rule it out of the law.
The Obamacare was a major turning point for the American population. It gave around 20 million people – who didn’t have insurance previously, health coverage and consumer protection.
However, after Trump’s presidency, numerous efforts have been made to remove the ACA, which will cost a large majority of people their health insurances. The administration is also pursuing a lawsuit aimed to completely revoke the care plan.
The U.S. might be advanced in its medical field, with high tech equipment and qualified doctors, but in terms of health care, it costs a fortune, making it difficult for the general public to afford it. Even though, ACA was a huge success, it had some drawbacks.
Max Nisen, an opinion columnist, wrote, “The law aimed to create a robust individual insurance market for people without employer coverage and boost Medicaid — and there has been progress on Medicaid expansion in holdout states. But the individual market never took off the way it was projected to, and even saw declines in recent years as premiums as out-of-pocket expenses often remained too high for many to want to join or stay in it.”
One of the biggest issues that ACA failed to cater was the high cost of health care. It did normalize costs for customers and ‘expanded coverage’, along with preventing many individuals from going bankrupt, however, still failed to make it accessible by the general population. “Cadillac tax”, was one initiative to reduce the expenses, but it was eliminated by the end of 2019.
Another proposal to reduce the health care problems in U.S. is Medicare for All. It will cater coverage and expenses in a more efficacious manner, primarily by devising a ‘tax-financed’ plan and lowering the price controls. However, the probability of success is still low.
There’s a possibility of new reforms in the United States, that might completely replace or further develop on the Affordable Care Act. The elections to be held this year, will certainly be vital in deciding the future of healthcare in America, determining what measures would need to be taken in 2029.
About Affordable Care Act
The Affordable Care Act (ACA), commonly known as Obamacare is a U.S. federal statute, enacted by the 111th U.S. Congress and signed into law by President Obama in 2010. It signifies the U.S. healthcare system’s signature ‘regulatory overhaul and expansion of coverage since the passage of Medicare and Medicaid in 1965’.
The primary function of the law was to reduce costs and improve quality. After it went to effect, a decrease in the overall healthcare spending was observed, along with premiums for employed based insurance plans.