Decrease in Uninsured Individuals The Congressional Budget Office (CBO) estimated that the PPACA “will reduce the number of uninsured residents by 32 million, leaving 23 million uninsured residents in 2019 after the bill's provisions have all taken effect” (CBO, 2010). However the CBO would report two years later that the number of uninsured would raise by over 3 million more Americans (CBO, 2012). The Individual Mandate An individual mandate was established, making it a requirement to buy insurance or end up paying a penalty fee. This mandate was put into effect to keep healthy people from holding off on buying insurance until they were sick. This way insurers didn’t have to pay more money in the long run due to increase claims. Insurance
My understanding of the Patient Protection and Affordable Care Act of 2010 (PPACA) is average to above average and specifically how it affects me and other individuals. According to Kaiser (2013) the main component of PPACA is most individuals and legal residents are required to have health insurance. To accomplish the goal of reducing the 40 million uninsured is for Medicaid expands to 133% of the federal poverty level (Lammers, n.d.). Next, adult individuals whom are 26 years of age or younger can be covered under their parents’ insurance plan and children and adults can’t be denied coverage due to pre-existing conditions.
The Patient Protection and Affordable Care Act (PPACA), generally named the Affordable Care Act (ACA) or “Obama care” was signed into law on March 23, 2010 by President Barrack Obama with a chief goal to improve the coverage of health insurance to the poor and decrease the health care spending. According to the Congressional Budget Office (CBO), ACA will decrease the number of uninsured residents by 32 Million by 2019.
There is individual mandate so that insurance companies would have a broad pool of customers: a fraction of whom are healthy, and a fraction of whom are sick or would be sick. That would prevent insurance companies from setting high prices to exclude people with a preexisting condition; so the sick would not all queue up for insurance and healthy people not bothering for health insurance until they get sick. When that happens, insurance companies will quickly go out of business.
According to research done by Westover et. al (2013), the passage of the Patient Protection and Affordable Care Act of 2010 (PPACA) created a greater future role for state Medicaid health plans and necessitates more efficient health care coverage. Low-income individuals have the need for more frequent medical attention than previously insured patients. Gaps in health care coverage, whether partial or full year gaps, have been linked to adults with serious, chronic health conditions. According to research done by Gulley, Rasch, and Chan (2011), among all working-aged adults, 28 million (16%) remained uninsured for all 12 months, and an additional 21 million (12%) reported part year coverage. The goal of the health care reform was to eventually provide equal care coverage and quality to all Americans.
The reason the Affordable Care Act came to exist is that the government believed that health care has gotten faulty to the point of needing a total reform. At the time insurance was only provided to those who could afford it. Most
Elections are just a month and a half away and Obamacare is still a highly heated debate. The Patient Protection and Affordable Care Act (PPACA), or what everyone has dubbed as Obamacare is a law that passed on June 28, 2012 to help reform healthcare. The law was introduced to provide affordable medical healthcare for everyone. The reform act doesn’t take away the State’s
The impacts of a large portion of the population being uninsured can have an adverse reaction on the population who are insured. Study done by RAND Corporation and a UCLA shows that it hard for insured patients to find a regular source of care, have delay in their care or going care, and less satisfied with their care (Kelly, 2011, Para 2). Furthermore, high rates of uninsured population can also increase rate of acute health conditions and diagnoses. Thus, causing American health care to be more expensive and increase raise in disease, and sickness in the American population. According to Kaiser Family Foundation (2017), “Because people without health coverage are less likely than those with insurance to have regular outpatient care, they
The Patient Protection and Affordable Care Act (PPACA) signed into law by president Obama on March 23, 2010 is arguably the most extensive reform of health care law ever to be enacted in the U.S. It will impact the way professionals practice health care, the way insurance companies handle health care as a product, and the way consumers purchase and use health care as a service. The Affordable Health Care Act is primarily aimed at reducing the number of uninsured Americans and reducing the overall costs of health care from an administrative and consumer standpoint. The PPACA requires insurance companies to cover all applicants and offer the same rates to all applicants of the same age
Edgar Allan Poe an American based writer well-recognized, even still today as being one of the greatest authors. He wrote many stories and poems like; “The Tell Tale Heart” and “The Raven”. Poe uses four key, story elements to create his theme of “The Fall of the House of Usher”. The theme infact is undoubtedly, dread. The first, of the four key elements is setting.
The Patient Protection and Affordable Care Act(PPACA) will influence the public health care system by breaking down barriers and expanding health care coverage to everyone in need in order to receive the best quality of care. The Patient Protection and Affordable Act was signed into law March 23, 2010, the law required that all Americans have health insurance by 2014 or pay a tax penalty on their federal income taxes. The Patient Protection and Affordable Care Act aims to greatly increase the amount of Americans who are uninsured and give them the ability to receive affordable health insurance. According to Martin, (2014) “as of January 1, 2014 all children, parents and childless adults who are not entitled to Medicare and who have family
When Obamacare was taken into effect, a significant change allowed those with pre-existing health conditions, to now be covered by health insurance. Prior to this, many people with these conditions were unable to receive the coverage they needed in order to get the proper treatment. However, this changed with the ACA. Insurance companies are now forbidden from charging buyers too much, terminating coverage, or rejecting individuals with pre-existing conditions. Though this is a positive for several people suffering from illnesses that were previously denied treatment, adding this provision to the ACA also meant increasing premiums. Since health insurance companies could not offset the costs of taking on the population with pre-existing conditions by collecting from
According to the Health Insurance Organization(2015, pg.1) The Affordable Health Care Act, also known as, The Patient Protection and Affordable Care Act (PPACA) –is the landmark health reform legislation that includes a long list of health-related provisions that began taking effect in 2010 and will “continue to be rolled out over the next four years.” Key provisions are intended to extend coverage to millions of uninsured Americans, to implement measures that will lower health care costs and improve system efficiency, and to eliminate industry practices that include rescission and denial of coverage due to pre-existing conditions. This analysis is a question review of some of the many benefits of this Act that are as follows:
It is believed that PPACA will have many positive impacts on the health care system since it will cover uninsured American citizens and control soaring costs of health care system via programs like accountable care organizations (ACOs). The skyrocketing healthcare cost is a nationwide problem in the U.S. In 2009, the U.S. wasted an approximate $2.5 trillion on healthcare; per capita costs of $8,086, the highest in the world (Goldstein, 2011). The nation’s health care expenses cut down the
The novel Animal Farm by William Golding, gave me an opportunity to introspect on my own life, in the novel animal farm the animals malnourished and in distress decided to overthrow their farmer and run the farm in the way they felt fit, The pigs were selected as the leader of this society and slowly throughout the novel the pigs become the oppressors they previously tried to overthrow. I learned from the process in which the pigs came to become dictators, First we must not blindly follow government officials with absolute obedience, we must learn to think for ourselves and use logic when making important, Government officials live in a different world from us and may become detached from the life of average citizens, So it is our responsibility
(1) - Managerial Accounting: The branch of accounting that focuses on information for internal decision makers of an organization. Management accounting provides information to help managers plan and control operations as they lead the business. Managerial accounting help to calculate cost of goods sold and cost of goods manufactured, helps in prepare budget and if you have the budget, you can compare between it and the accrual to make variance analysis.