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What is ObamaCare? The Health Care Act.

What is ObamaCare? The Health Care Act.

The Patient Protection and Affordable Care Act, more commonly known as the Affordable Care Act or Obamacare. This is a health care reform Act designed to meet several shortfalls in the then existing health care statutes. The Act was signed into law in 2010 by President Barack Obama. It marks the most significant change in American health care law. Since the institution of Medicare and Medicaid in the 1950s. The Act was implemented with the goals of lowering health care costs, raise health care outcomes and improves access and distribution of health care. This is done through increasing the quality and affordability of health insurance. Also lowering the rate of uninsured by increasing private and public insurance coverage. Moreover reducing the costs of health care to government and private individuals.

President Barack Obama speaks during an end-of-the year news conference in the Brady Press

Under the Act, insurance companies are mandated to insure all applicants under new minimum standards. Also offer equal rates, regardless of issues such as pre existing conditions. The Act met with stiff resistance from several quarters before eventually being passed into law, matters even reaching the U.S. Supreme Court. The majority of the provisions of the Act took effect on January 1st 2014, with the rest scheduled to take effect by latest 2020. Studies have generally shown the Act to be a positive influence on health care in America. Though many areas are still inconclusive. Some of the regulations of the Act are as follows:

  • Insurance carriers are prohibited from charging higher rates or discriminating against individuals based on pre existing condition, gender or race.
  • Insurance carriers are prohibited from capping annual spending on essential health benefits or services.

Obamacare Lowers The Uninsured Rate.

With the enactment of Obamacare, there has been a steady decline in the rate of uninsured Americans. Studies show that from 2014 to date, significant strides have been made in lowering the number of individuals without health care insurance. Approximately fifteen and a half million Americans of ages between eighteen and sixty four have accessed health care insurance since March of this year, a drop of forty four percent since September of 2013. The 2016 uninsured rate has dropped from thirty five million to twenty million since 2013.

Medicaid Expansion

Medicaid is a social health care program in the U.S. designed to provide access to health care for low income individuals. Medicaid is the single largest avenue for health care funding for low income individuals and families in the US. Allocation is means-tested, against the federal poverty level and Medicaid exists in every state. As of 2014 with the enactment of Obamacare, qualification for Medicaid has been raised to income of individuals up to one hundred and thirty three percent of the federal poverty level. An additional five percent layer makes Medicaid almost free to those who qualify. The expansion of Medicaid through Obamacare is beneficial as it sets about increasing the availability or level of financial assistance to help deal with affordability problems.

Marc Sporn Health

Marc Sporn Health is here to help you maximize your usage and benefit of The Obamacare Act. We are a group of health minded individuals who have created an environment where consumers can gain the best advice on any health and Health Insurance related matters. We will advise on new policy selection, we advise on the details of existing policies, we consult and advise businesses on the administration of their Obamacare packages. Marc Sporn has a plan to improve the already improving sector of health care and is giving every individual the opportunity to avail themselves of his expertise in the field.

How Marc Sporn Can Help You!

Marc Sporn Health can assist in various ways, to improve your health care situation. We do the following:

  • Assist those who have been denied- under previous health care insurance law, insurers had the right to exclude anyone from coverage. Often those with the greatest need were also the ones being barred from coverage. With the passage of the Act, now virtually everyone has access to health care and health care insurance and Marc Sporn can help you navigate what can be a tricky world with staggering amounts of options.
  • Policy Assessment- Marc Sporn is an expert in Health Insurance and can assess the details of your health care insurance policy down to the finest detail. This could easily save or earn the average consumer thousands of dollars a year, which they could be missing out on through a lack of expert knowledge on their policy.
  • Obamacare for Business Owners- Any business with more than fifty full time employees must provide health insurance for those workers. Fees will be levied if companies are not compliant with this and Marc Sporn can manage your Obamacare obligations ensuring that your company never runs afoul of federal regulations as well as ensuring your employees and their dependants get the best health care available.

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