Medicaid is the joint initiative of Federal Government and State
Government, which aims at providing maximum coverage to the
Americans. It is the largest health coverage source of the USA.
Two Eligibility Requirements of Medicaid:
- Individual must be of age 65 or older
- Have a permanent disability
Overview of Affordable Care Act
- Also known as Obamacare Act
- Came into law in the year 2010
- The objective of passing this law
- to provide affordable health insurance coverage to the citizens
of USA
- To expand the Medicaid program, thus covering all citizens
below federal poverty level
- Encourage and facilitate innovative medical delivery
methods
- 54% Americans opposed this Act in 3 years of its approval
- Trump Government is planning to repel this act
Benefits of Obamacare
- Decreases the health care cost substantially
- Eliminates any kind of lifetime limits
- Requires all insurance plans to cover the 10 critical health
benefits, thus lowing the customers expenses on the same
- Covers individuals having a prior health problem
- Provides easier access of insurance options to consumers
- Children can be covered in the name of parents till they attain
the age of 26
- Tax credits on premium is made available to middle class
consumers
Disadvantages of Obamacare
- Overall health cost increased due to increased coverage
- Individual mandate is highly criticized by the Americans as
they need to go for the insurance plan or pay penalty tax
- Previously covered insurance plans cant be maintained in
parallel, with Obamacare
- High cost of premiums
Future of Obamacare
- Has been highly unpopular since the day, it has been
passed
- 54% Americans have voted against it
- Trump Government is devising its suitable substitute