Question

300 more words of elaboration on this paper. (How does this relate to health care finance) list 30 references

Obamacare, also known as the Affordable Care Act (ACA), was passed in 2010 as a health care insurance plan for all Americans. The law made many changes to the existing minimum coverage in insurance, and increase the federal subsidies for the middle-income households of the country. Trumpcare, also known as the American Health Care Act (AHCA), is a replacement health insurance plan designed to partly repeal the existing ACA. The new healthcare bill, is one step closer to repealing . Here is a detailed difference between Mr Trump’s healthcare plan and Barack Obama’s plan Number of uninsured people ACA: The nonpartisan Congressional Budget Office (CBO) has an estimate with ACA as the law of the land, the uninsured Americans would be 28 million will remain stable for the next decade. AHCA: The analysis of an earlier version of the bill, there is an estimate of 54 million could be uninsured by 2026 in case of implementation of the AHCA. Individual Mandate: The ACA have provision to impose penalty on consumers who can afford to buy health insurance but do not do so, known as the individual mandate payment. it’s paid when you file your federal tax return. This penalty can be either 2.5% of income up to the total yearly premium or $695 per person up to $2,085, whichever is higher. AHCA eliminates the individual mandate and offers a incentive to consumers who maintain insurance coverage: insurance companies can charge a 30% penalty who buy health insurance after had a gap in required coverage exceeding 63 days. The 30% penalty would apply for 12 months. Qualified Health Plans The ACA requires that all major health policies sold to consumers offer coverage for 10 categories of essential health benefits: Outpatient services, Emergency services , Maternity and newborn care, Hospitalization Prescription medication , Mental health and substance abuse services, Laboratory services Pediatric services, Rehabilitation services, including vision and oral Preventative, wellness, and chronic disease management services The AHCA eliminates these protections by giving a waiver to define what they consider essential health benefits. States could allow insurance companies to sell plans that do not cover prescription drugs or maternity care. Insurance Coverage of Newborns The ACA and AHCA have the same rules for newborns. A baby can be added to family existing health insurance plan or can buy a new plan to give cover the baby. Cost Differences AHCA is making major changes in the health insurance by reducing the requirements and making change in the structure of total offered government subsidies. On the analysis, the CBO has reported the current changes would make health insurance more affordable for few customers. Taxes Obamacare: The ACA increased Medicare taxes for the households having incomes above $250,000. The legislation gave some tax credits to middle-income earners to help them pay out-of-pocket health expenses. Trumpcare: The AHCA repeals taxes of previous insurance plan.

Answer 1

Employer Manadate(Obamacare): It was manadory for the companies employing more than 50 employess to offer health insurance or pay a penalty.Trumpcare: The mandatory insurance of employess and pentaly has been repealed under Senate plan.Insurance for dependents under 26 (Obamacare) : It requires insurer that the children under the age of 26 are allowed to be covered under the parent's policiy.Trumpcare: Well this requirement is not repealed by trumpcare. Trumpcare: Pre-existing condition coverage (Obamacare):The insurer is prohibted from denying  coverage or charging more to individuals who have pre-existing medical conditions. Trumpcare: Gives states the ability to opt-out of requirements that insurers charge the same premiums for healthy and sick customers.Womencare (Obamacare): It is mandatory for the insurance companies to provide core services including maternity care and contraceptives and the insurance companies are prohibted from charging women more than men for the same health plan.Planned Parenthood receives federal funding for family planning and other medical services used by Medicaid recipients. Abortion cannot be funded with federal dollars.Trumpcare: Insurance companies prohibited from charging women more for health insurance, but states could apply for waivers that allow them to drop coverage for maternity care and contraceptives. The bill also bans women from using government money to buy plans that covers abortion and ends non-abortion Medicaid reimbursement to Planned Parenthood, a non-profit group that provides abortion services in some of its clinics, for one year.Older Americans (Obamacare):The insurer are not allowed to charge the older Americans more than three times the cost for younger Americans.Trumpcare: States can receive waivers to allow them to charge older Americans more.Insurance marketplaces (Obamacare) : The Obamacare marketplaces, such as HealthCare.gov, enable people who don't get health benefits at work to compare plans, just as they might compare hotel rooms or airline tickets online.All plans on the marketplaces must offer a basic set of benefits, such as hospital care, mental health services and prescription drugs.Trumpcare: Under both the House and Senate bills, it is unclear how the marketplaces would work because insurers might potentially offer health plans that do not offer the same set of benefits.