navidebtFormerly known as the Obama Health Care Bill, has been passed as most of us know and making medical bill assistance easier for Americans. ObamaCare is also targeting the insurance industry. This bill reforms the health care industry by expanding medicaid and medicare while creating an exchange pool that’s beneficial specifically towards the lower and middle class of America. Let’s go ahead and take the time now to discuss the pros and cons of the Obama Health Care Bill.

If you’re familiar with the new health care plan then the ObamaCare health law pretty much copies that. In a nutshell, Obama gives 30 of 44 million uninsured individual’s access to health insurance. Tens of thousands of families have already saved thousands of dollars on their medical bills just this last year. Let’s talk about how ObamaCare effects people on other aspects. With the new healthcare law there come new healthcare benefits. Let’s just say that there are way too many to count, but these newer benefits offer no annual or lifetime limits. Also, something you didn’t know, the FDA is now able to approve more generic drugs, which causes massive price reduction. For consumers, this is always a plus.

There is also a consumer protection. The new ObamaCare regulates insurance highs with what’s commonly referred to as the “Rate Hike”. Basically enacts the “80/20″ rule that forces providers to spend a minimum of 80% of their income on marketing or it must be returned as rebates to consumers. With the ObamaCare expanding medicaid to lower income individuals, 133% of the poverty level will now be able to be covered. There have also been improvements to our medicare as well. ObamaCare really caters to medicare recipients. In a nutshell they’ve basically created ‘no out of pocket’ costs for seniors. They’ve even closed the medicare drug ‘donut hole’.

Let’s talk about some of the cons of the ObamaCare Health Bill. Expect premiums to be on the horizon. The ObamaCare Bill actually aims to drive insurance costs down, but it doesn’t offer protection against state laws enacting the provision on behalf of price gouging. Therefore, premiums can rise slightly. With medicare, Obamacare is currently damaging it, by taking out nearly $720 billion dollars only to reinvest it back into the same program. It’s just a big money recycling affair. The biggest flaw of all is the cost of the ObamaCare program. It’s not very cost effective for the economy. This health bill has been prohected to cost over $1 trillion over the next decade, easily.

Dealing with these pros and cons can be difficult, and there isn’t much that can be done until ObamaCare allows provisions in late 2014 when the open exchanges from the committee occur.

 

Learn about your debt relief options at Navidebt.org.

 

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