The 45th President of The United States Of America, Donald Trump has wasted no time in beginning work from the Oval office. The first few Executive orders signed by him include the order of “minimizing the economic burden” of Obamacare (ACA), Barack Obama’s signature healthcare law.
The order allows government agencies to delay the implementation of any parts of the “Patient Protection and Affordable Care Act” which could put a “fiscal burden” on families, states or healthcare providers.
What is Obamacare?
ObamaCare (the Affordable Care Act) is a US healthcare reform law that expands and improves access to care and curbs spending through regulations and taxes.
The Affordable Care Act’s main focus is on providing more Americans with access to affordable health insurance, improving the quality of health care and health insurance, regulating the health insurance industry, and reducing health care spending in the US. The law contains hundreds of different provisions that address different aspects of “the healthcare crisis” in the US. It aims towards:-
- Offering Americans a number of new benefits, rights, and protections in regards to their healthcare
- Setting up a Health Insurance Marketplace where Americans can purchase federally regulated and subsidized Health Insurance during open enrollment.
- Expanding Medicaid to all adults in many states.
- Improving Medicare for seniors and those with long-term disabilities.
- Expanding employer coverage to millions of employees.
- Requiring most people to have coverage each month from 2014 in order to get an exemption, or pay a fee.
- And introducing new taxes and tax breaks, among other provisions.
Why is it so controversial?
The Republicans say that the ACA imposes too many costs on businesses, with many, including Donald Trump describing it as a “job killer”.
They have also denigrated it as an unjustifiable invasion into the affairs of private businesses and individuals.
The Law was opposed by many since Barack Obama had introduced it in 2009. The law was passed in 2010 and has faced opposition from the opposite party since then. In 2012 the US Supreme Court declared it constitutional.
Meanwhile, the House of Representatives, controlled by the Republicans, has taken dozens of symbolic votes to repeal the law and forced a partial government shutdown over the issue. Republicans in state capitals have also sought to undermine it in various ways to which the Democrats claim that contestation in all sorts was politically driven against Barack Obama and not against the Law.
Repeal, not Remove
Obamacare has helped many citizens of the USA get affordable healthcare and has saved multiple lives especially in the central states, yet most of those states voted for Donald Trump. It’s because Donald Trump promised a repeal and replacement for Obamacare rather than complete removal. Although Obamacare had made an immense difference though it was not properly implemented which frustrated most of the citizens, counting it as an additional expense. They voted for Donald Trump in the hopes that he would bring a better law in action by replacing the existing law.
Bankruptcies
Several people claim that Obamacare has reduced the amount of bankruptcies in the USA. It is a well known fact that compared to other nations the USA has one of the most expensive healthcare facilities. Another fact is that if an American citizen who doesn’t have a Health Insurance has written himself a death note as a simple hernia operation can cost up to $10,000 leaving a huge hole in the pockets of the uninsured.
Obamacare makes it a point that everyone has a Health Insurance to avoid getting Insolvent in case of an emergency medical assistance. It has helped a number of citizens to borne their medical treatments and has been more beneficial to the one’s living in the rural areas.
The citizens of USA will have a huge effect by the removal of Obamacare unless Donald Trump can successfully repeal and replace it with a more convenient as well as affordable system that may be able to eliminate the biggest trouble buzzing around the US citizens. Moreover, an effective scheme may improve the Medical Tourism industry which helps in generating employment and a better living lifestyle.
Will Repealing Obamacare help the US citizens or affect the situation of the US citizens?
By Meherzad Irani
Image Source: HealthInsurance.org
One of the articles from The Economic Transcript (February, 2017, issue).