In: Economics
discuss the affordable care act of 2010 and how it attempts to improve quality, reduce costs, and increase access. also include strategies and how to gain support from various stakeholders and improve community acceptance
The Patient Protection and Affordable Care Act of 2010 refer to a law that significantly changed United States health care system. The law has 3 primary goals:
--Expansion of the Medicaid program to cover all adults with income below 138% of the federal poverty level
--Extending support for the innovative medical care delivery methods designed to lower the costs of health care and improving the quality.
--Make affordable health insurance available to wider section
The strategies involved to make it success include:
--Insurance companies were not allowed from dropping coverage if a person got really sick. Also were not permitted create lifetime coverage limits; and could not deny coverage to children with pre-existing conditions.
-- The small firms received tax credits to cover up to 35 percent of the premium payments of their total employee
-- A 10 percent excise tax on Indoor tanning services were assessed
-- Medicare beneficiaries who fell into the category of Medicare Part D Prescription Drug "donut hole" were provided a rebate of $250
-- Children were permitted to stay on the health insurance of their parents' until they turn 26.
-- A re-insurance program offset the health benefits costs for workers age 55-64 that were forced into early retirement
There were several stakeholders involved in the formulation of Obamacare, including the following: health insurers and other commercial groups related to the policy, federal and state governments, National Republican Congressional Committee, political parties and leaders, the Supreme Court, and the general public.