How Obamacare Negatively Impacted The Budget

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Obamacare is prevention and management of the illness, by preserving the physical and mental well-being of an individual through several medical services offered by the medical practitioners and other allied health professionals. There is a specific healthcare system comprising of the people, resources, and the institutions that help in delivering these healthcare services for meeting the needs of the targeted people. However, it found an opposition from the Republicans and they threatened to filibuster any bills that contained it.

As per the reports of CBO, the current rising healthcare costs will put more pressure on the federal budget in the near future. In addition, there is great uncertainty in the implementation of ACA, as there are several oppositions in different parts of the nation. The implementation of ACA might work, but there are no concrete approaches regarding how it will help the people with the private healthcare plans.

As per the reports from the Medicaid Services in 2013, the costs per capita have continued to increase. Further, due to the recession period from 2008-2010, the unemployment rates have also gone high. This has limited the ability of the people to purchase new healthcare plans. The out-of-pocket payments and other deductibles for the healthcare costs have increased. These costs are the components of the insurance, but are covered up before the actual insurance costs come into the picture. As a result, the rising costs of healthcare have prevented the further consumption of healthcare services.

Uwe Reinhardt, an expert health economist has mentioned that, such rigid and artificial rules would not produce the best unbiased forecasts for the fiscal budget. Douglas Holtz-Eakin, the former CBO director has argued that, such bill would increase the deficit by $562 billion, due to front-loaded revenue and back-loaded benefits. Further, the different innovations mentioned in the program under this Act are not actually accountable. Hence, they would not produce substantial savings.

Thus, we can observe that, there are many negative impacts of implementing this plan. Further, as per the survey conducted, nearly 54% of the Americans have opposed this Act. There are not strong positive signs of reducing the budget deficit with the implementation of Obamacare. The planning is good for the implementation of such healthcare plans, but the plans that are designed to meet the desired objectives are not meeting up to the expectations. The government needs to re-design the entire plan for the proper implementation of ACA.

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