Obamacare Infographic: Understanding Obama’s 11-Year Plan For Health Reform
With many different governmental figures fighting over certain policies for the past couple of years, the Affordable Care Act has finally gone into place. Several different things have changed, and a lot of people will be able to save money on their health care.
Initially, major changes included the fact that anyone under 26 years old can remain on their parents’ health insurance and prescription drugs dropped in price. Later on in the 11-year plan, you may see changes such as penalized companies with 50 or more employees that don’t offer health coverage or even a large 40% tax will be placed on health insurance companies that provide the “Cadillac” health plans.
There is no denying this law is a political hot potato, as the infographic below details. The Republicans in Congress have been none too happy with the Democratic president’s plan. In fact, zero Republicans have actually supported the act in voting, and members of the House of Representatives continue to pass bills overturning the full Affordable Care Act or parts of it. Of course, the president just vetoes them.
The American people are just as divided. Forty-six percent say they are in favor of health care reform, but nearly as many, 45 percent, are against it. They realize it is a complex issue with many sides to it.
What Changes Under the Affordable Care Act?
You have undoubtedly heard about all the problems the AFA website had at launch, but now those have been largely fixed. The big question has become what will be different under this new legislation. Here are few of the more interesting changes being implemented over the next few years:
• A tax on tanning beds. No joke, you will have to pay a 10 percent tax for using an indoor machine.
• An annual fee on pharmaceutical companies, which will gradually increase as the ACA ages.
• Standardized insurance forms to reduce paperwork. Those words may never have been said before!
• Fines for those without insurance plans.
• Restaurants being required to list calorie counts on menus if they have more than 20 locations.
The Money Behind the ACA
“Well, all this saving money is just wonderful!” you may say. But where is this money coming from? Taxes will take a lot of the money straight from the health industry companies. Another large portion will come from higher taxes on individuals and families making higher incomes. This is what will feed the piggy banks for an affordable health care for everyone. Be sure to check out Healthcare.gov for more information and to sign up in the healthcare marketplace. No matter whether you are a small business owner or an individual, these are your first steps to the 11-year plan provided by Obama and the Affordable Care Act.
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