Question

The Affordable Care Act (ACA) of 2010 has dramatically changed the U.S. health care system. Despite the beneficent intent of the reform, however, it has been suffering from many problems like the rise of insurance cost, etc. Discuss ethical challenges present in the ACA era from the market economic point of view

Answer 1

The Affordable Care Act (ACA)

The Affordable Care Act—also known as Obamacare—was implemented into law in March 2010. It was created to extend health insurance coverage to millions of uninsured Americans. It stops insurance companies from denying coverage due to numerous conditions and requires plans to cover a list of essential health benefits.

Discuss ethical challenges present in the ACA era from the market economic point of view

• Funding was a major issue for preventive and primary care
• Hospitals and health care providers were stressed out due to the fiscal pressure to manage cost effective care
• Many people had to pay higher premiums
• You could be fined if you don't buy insurance
• Increased tax as a result of ACA
• Many firms started to cut employee's work hours in order to avoid covering employees
• Under ACA, doctors faced increasing incentives for undertreatment rather than overtreatment.