is the Obamacare really live up the savings that were predicted..?

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Expert Solution

Obamacare failed to live up the savings expectations and thus led to opposition from people. The reasons are given below -

1. Many people lost their employment-based health insurance. Many businesses found it more cost-effective to pay the penalty and let their employees purchase insurance plans on the exchanges. Other small businesses find they can get better plans through the state-run exchanges.

2. Many companies were dependent on private health insurance. Insurance companies canceled many of their plans because their policies didn't cover the ACA's 10 essential benefits. For those who lost those cut-rate plans, the costs of replacing them are high. The ACA requires services that many people don't need, like maternity care.

3. Overall healthcare cost was increased due to increased coverage like preventive checkups.

4. The ACA taxed those who didn't purchase insurance. But many avoided the tax through an ever-expanding list of exemptions.

5. The income tax rates revised under the plan were very high for the common prople as well as the companies.

Nightingale answered 1 year ago

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