One of President Barack Obama’s campaign promises was health care reform. In March 2010, President Obama made a great achievement for health care: He signed the Affordable Care Act. Since before its inception, this law has sparked intense debate. Some proclaim it is a government takeover of the health care system while others say it creates yet another financial burden for taxpayers to bear. The reality is the ACA is a positive and much needed change to the previous health care system. This law will save money and broaden access to health insurance for those who have previously been excluded from coverage.
The government is facing huge deficits. This act will decrease the deficit by $210 billion in the next 10 years and by another trillion dollars in the 10 years after that, according to the Congressional Budget Office. The law will cut Medicare expenses by about $8 billion by 2014 and nearly $418 billion in the next seven years. Both sides of the aisle agree that spending in Washington has to be cut, and this law helps do just that by reducing Medicare costs.
The ACA will also save American families money. Lower premiums and better coverage mean more money saved for working families. The CBO has stated the law will save a family of four as much as $2,300 on premiums in 2014.
The act also benefits college students. Many must find their own coverage after graduating from college, but the ACA dictates they can stay on their parents’ plans until age 26. Working young adults who cannot afford insurance will now have coverage they did not have access to before.
One provision of the law is for some preventive services to be covered completely by insurance with no co-pay or deductible paid by the individual. With more access to preventive services, the need for costly, drastic medical procedures will be reduced. Earlier detection means better care, better chances at recovery and fewer medical bills for individuals.
Beginning in 2014, the law will also provide insurance coverage for people with pre-existing conditions. In the past, pre-existing conditions often meant no coverage for those who needed it most. This resulted in the individual being responsible for costly medical bills and prescription drugs. Just as important, insurance companies are prohibited from denying children coverage because of a costly pre-existing condition, such as asthma.
Despite all the politicized rhetoric floating around, the ACA is not a government takeover of the health care system. The purpose is simple: Americans need better access to quality, affordable health insurance. Health should not be dependent upon income, and that is why we need the ACA.