Is the Affordable Care Act as well as are tax credits actually affordable for the average consumer or is it causing further financial issues?
This paper is going to explain what the affordable care act is and how it works. What will happen if you don’t get insurance. It will also explain the metal tiers and how people chose the plans they are on. According to the article from Amy Anderson DNP, RN, CNE; Since the Affordable Care Act (ACA) started “An estimated 30 million Americans are expected to gain health insurance through the Affordable Care Act which is the largest reduction in the uninsured in four decades”.
It will also tell you about people who the mandate has hurt financially. In my research I found four different families that the …show more content…
There are some people who think the new plans are still too expensive for the average individual. Since the ACA started “An estimated 30 million Americans are expected to gain health insurance through the Affordable care Act (ACA) which is the largest reduction in the uninsured in four decades”. (Amy Anderson dnp, RN, CNE) this will require a larger workforce to meet the increased demand. With a shortage of nurses and other health professionals already this will cause increased stress, create longer wait times, and limit the people’s access to doctors making more people unhappy. “Thus far, the ACA has delivered higher health insurance premiums, higher deductibles, and less competitive health insurance markets” (Amy Anderson DNP, RN, …show more content…
Then they were told that they could not keep the old plan and would have to sign up for a new plan. Their monthly premiums went up $400.00 a month and their deductible went from $2500.00 a year to $12,000 a yr. Their son went to the Emergency room and on the old plan it would have cost $1200.00 but under the new plan she received a bill for over $6000.00. Another couple, she had lost her medical insurance one year before she was eligible for her retirement benefits. Her husband was already receiving his retirement benefits but with no medical coverage. Their total monthly income is $4000.00 and their health insurance premium is $1050.00 a month and that’s just catastrophic insurance. They are using their savings to pay the premiums and can’t even afford to use it. A broker who makes 100,000 a year had been paying $629.00 per month for coverage for his family of five. When his current plan was canceled due to being non-compliant with the ACA he had to get another policy. The lowest priced bronze plan was $1161.00 a month for him to cover his family of five. That is almost 14% of their pretax income and if he was to get the next least expensive silver plan it would be $1568.00 a month which is 19% of his pretax income. While millions of people are buying insurance the cost is the main reason why 10 million people in the United States who are eligible for
This paper is going to explain what the affordable care act is and how it works. What will happen if you don’t get insurance. It will also explain the metal tiers and how people chose the plans they are on. According to the article from Amy Anderson DNP, RN, CNE; Since the Affordable Care Act (ACA) started “An estimated 30 million Americans are expected to gain health insurance through the Affordable Care Act which is the largest reduction in the uninsured in four decades”.
It will also tell you about people who the mandate has hurt financially. In my research I found four different families that the …show more content…
There are some people who think the new plans are still too expensive for the average individual. Since the ACA started “An estimated 30 million Americans are expected to gain health insurance through the Affordable care Act (ACA) which is the largest reduction in the uninsured in four decades”. (Amy Anderson dnp, RN, CNE) this will require a larger workforce to meet the increased demand. With a shortage of nurses and other health professionals already this will cause increased stress, create longer wait times, and limit the people’s access to doctors making more people unhappy. “Thus far, the ACA has delivered higher health insurance premiums, higher deductibles, and less competitive health insurance markets” (Amy Anderson DNP, RN, …show more content…
Then they were told that they could not keep the old plan and would have to sign up for a new plan. Their monthly premiums went up $400.00 a month and their deductible went from $2500.00 a year to $12,000 a yr. Their son went to the Emergency room and on the old plan it would have cost $1200.00 but under the new plan she received a bill for over $6000.00. Another couple, she had lost her medical insurance one year before she was eligible for her retirement benefits. Her husband was already receiving his retirement benefits but with no medical coverage. Their total monthly income is $4000.00 and their health insurance premium is $1050.00 a month and that’s just catastrophic insurance. They are using their savings to pay the premiums and can’t even afford to use it. A broker who makes 100,000 a year had been paying $629.00 per month for coverage for his family of five. When his current plan was canceled due to being non-compliant with the ACA he had to get another policy. The lowest priced bronze plan was $1161.00 a month for him to cover his family of five. That is almost 14% of their pretax income and if he was to get the next least expensive silver plan it would be $1568.00 a month which is 19% of his pretax income. While millions of people are buying insurance the cost is the main reason why 10 million people in the United States who are eligible for