The Biden Plan To Protect And Build On The Affordable Care Act
- Posted: October 05, 2023
- Category: Research insights
The Affordable Care Act was signed into law on the 23rd of March 2010 by President Obama and has made a real impact on the lives of everyday Americans. Despite the impact it has, it has been under attack by representatives on both side of the political debate ever since. The Biden administration aims to protect the act and build on it, to enable every family to afford the health care that they need.
The Benefits And Setbacks Of The Current Affordable Care Act
After the passing of the Affordable care act, over 100 million people no longer have to worry that and insurance company will deny their coverage or charge higher premiums because they have a pre-existing condition. That has an immeasurable positive impact on the well-being of so many people in the USA. Because of this commerce they no longer need to worry that they will be turned down for cover if they have any kind of condition, whether it be cancer, heart disease, diabetes come out or mental health issue.
The act also has prevented insurance companies from setting annual or lifetime limits on coverage, so anyone who needing cover should be able to access it. As well as this, young people who transition from school to a job have the option to stay covered by their parents insurance plan until they reach the age of 26, giving them peace of mind.
Despite the benefits that this act has brought the US, there have been repeated attacks on it ever since it was signed into law. Congressional Republicans have been attempting to repeal the act ever since its passage, and the Trump administration has been aiming to strike down the law in courts. Of course, this will bring real anxiety to those who have been covered by the act. That’s why the Biden administration aims to protect the act, as well as build on it to make it better than ever before.
Giving Every American Access To Affordable Health Insurance
One of the most important benefits of the Affordable care act has been the availability of health care insurance to those who need it most. Since 2016, the amount of Americans who don’t have health insurance has fallen from 44 million to 27 million, which is a 40% drop. However, the efforts of the Trump administration have actually increased the amounts of uninsured Americans by about 1.4 million people.
As such, Biden is looking to repair the damage done by the administration to the Affordable Care Act, and furthermore cover an estimated 97% of Americans with affordable healthcare.
He aims through this by giving American people a new choice for public health insurance, in the same vein as Medicare. Much like Medicare, this public option will reduce costs for patients by negotiating with health care providers. This will ensure that nearly every American can get the health care they need, and help small businesses by taking the strain of providing health care off them.
This plan also includes the increasing of tax credits values to lower your premiums and extend coverage. Family is that make between 100% and 400% of the federal poverty level can receive tax credits to reduce how much they have to pay for health insurance. However, this still doesn’t cover enough to properly give them affordable health cover. With the increasing of tax credit values, those who need it most will be able to get the health care that they need.
Finally, the aim is to expand coverage to all low-income Americans. Right now, 14 states have refused to expand Medicaid eligibility, which has denied access to health care for around 4.9 million adults. With the expanding of health care via a new publicly funded option, every American who needs it should be able to access health care coverage.
Creating An Affordable And Less Complex Health Care System
Right now, even if you have health insurance, the health care system is incredibly expensive and hard to navigate. Under the Biden administration, the aim is to make health care much more affordable, and less complex for everyone who needs to access it.
This will be done with the overhauling of tax credits for every single American, making health care much more affordable. With more affordable health care, more and more Americans will be able to get the help that they need.
Thanks to the current insurance setup in the USA, even if you are properly covered, there can be surprise bills. If you have an in-network provider, or receive care from an out of network source without realizing, you could be landed with a large bill that you weren’t expecting. The Biden administration aims to bar health care providers from charging patients out of network rates, when the patient doesn’t have control over which provider they see.
As well as this, they aim to tackle the high prices that are currently being charged in health care. Using existing antitrust authority, they will aim to address the few corporations involved who drive up prices for those looking for essential health care.
Of course, there are other ways which prices can be driven down. The Biden administration aims to accelerate testing and deployment of new solutions, which could improve quality of care as well as lower costs quite drastically. As well as this, they are aiming to increase wages for those working in health care, such as home care workers, who currently are paid low wages.
Finally, the administration aims to make health care a right for everybody in the United States. That means that no matter your zip code, gender, sexual orientation, race, or anything else, this should not impact what kind of health care you receive. This includes reversing current decisions on women’s rights to choose, and restoring federal funding for Planned Parenthood.
The Biden administration has a detailed plan to overhaul how health care is handled in the USA. This has been a very brief overview of how they aim to bring proper health care to every American living in the USA right now.