Obamacare needs no introduction and the media has done a poor job of reporting the facts and providing meaningful information for viewers and readers to utilize.
Now that the political arguments have cooled somewhat, I believe it is important that everyone understand the impact of the law. This law will impact everyone and stands to alter the state of our way of life at least enough that everyone should be interested in understanding it. The following information and text is heavily borrowed from Beating Obamacare Your Handbook for Surviving the New Health Care Law by Betsy McCaughey, Ph.D. Dr. McCaughey is a Constitutional Scholar and patient advocate and former Lt. Governor of New York. Dr. McCaughey has read and analyzed the entire 2000+ documents that set forth the new health care law. She has provided readers with this book to break the law down into digestible bits so that most anyone can understand the many different aspects of this law. I sense much emotion in Dr. McCaughey’s writing though I do not doubt her integrity in the least.
I am providing my readers, with an even more compact overview of the law using this source and others that I am studying in a series of mini-blogs. In the areas of the Dr. McCaughey’s book that I am still trying to understand better, I have not commented. I only provide information from the beginning of the book in this post, and I will publish more as I read and clarify my own understanding of other areas of my sources and the law.
Proponents of Obamacare are welcome to comment. I intend nothing other than providing information. I respectively request that comments are fact-based supported by law, expertise, and not news reports.
This program requires taxpayers to foot the bill. Despite the many arguments over socialized programs and whether or not Obamacare falls under that title, the new health care law does unquestionably overstep many Constitutional grounds. It is also without question that by necessity, changes and adjustments will need to be made in this law and its offshoot regulations and policies to follow. It is important we speak to our elected officials. We need to make it known how we that are affected by this law will need to influence changes and adjustments. As with any major change in our society, even Medicare upon its birth, scathing criticism, anger and fear of the unknown can all hamper our ability to see things for what they truly are and effectively participate in making the best of change. There are immediate benefits to this program. There too is immediate harm. It will be up to the American people to mandate that balance as time goes on. These are points in the book mostly from the actual text with a few of my comments.
Many Americans will lose their coverage provided by their employers in 2014.
Employers with more than 50 full-time workers are required to provide the government-designed health plan or pay a fine. Coverage is already expensive. The government-designed health plans are also very expensive and are expected to cost more than the already high cost plans provided, now.
The Employer mandate adds $1.79 per hour to the cost of hiring a full-time worker.
This can be a real burden on companies with many low wage workers. Currently employers in retail and fast-food industries pay less than half the $1.79 per hour to insure their workers. Some employers will opt for the fine in lieu of paying for more expensive health coverage while others expect to make full-time workers into part-time workers. So individuals will have to obtain private insurance plans that we are all required to have in 2014 in hopes that the plans offered through the exchanges will be affordable or that State Medicaid programs will be available to individuals that are not disabled, over 65, or have children, and low income.
As of 2014 you will have to show the IRS proof of Insurance when you file your taxes.
Or your refund can be withheld.
Under Obamacare, for the first time in history, the federal government will dictate how doctors treat privately insured patients.
§1311 of the law gives power to the Secretary of Health and Human Services to standardize what doctors do. There is not a lot of data in the book to expound on this statement, however, the fact remains that the government will have more power to intervene on how care is administered that it has before. This is also regardless of whether or not your pay for private insurance or receive Medicai
Seniors and baby boomers can expect less care than in the past.
Cuts to Medicare Funding (a program that the recipient has paid into all his life) will pay for more than half of the new law. This means approximately $247 billion less to care for the same number of seniors than if the law had not passed. Nurses in California have already begun striking over the increased workloads. When Medicare cuts caused reductions in nursing staff in the past, elderly patients had a lower chance of surviving their stay and death rates from heart attacks rose
If you sell your home and make a profit, you could be paying a new 3.8% tax on the gain.
The new law includes roughly a half a million dollars in tax increases. A new tax on selling any asset; home, small business, stocks, or bonds, effective January 1, 2013. This is in addition to capital gains taxes and it applies to any gain that pushes your income over $200,000. Homeowners selling their primary residence could be exempt from the tax. Point being it is very important to do your homework before selling off asset, going forward.
Low Income childless adults may become eligible for Medicaid if your state chooses to expand Medicaid.
Of course, there is still controversy over how this will be paid for and some states still have not decided on whether or not to expand the program to low income childless adults.
Households earning up to $92,200 for a family of four who pay for their own insurance will receive a subsidy funded by taxpayers.
Young Adults who are on their parent’s insurance can remain so to age twenty-six
I would like to make an extra comment regarding Medicare. There is nothing good about taking Medicare funds to pay for another program. There is also nothing good about changing the Medicare system into voucher system that would make seniors and disabled people fair game for misleading and predatory insurance sales companies. Some seniors and disabled have payee representatives that handle all or most of the financial aspect of the benefits received. However, not all disabled people and seniors want to give up that independence and the current system is confusing enough. With that said, it is also important that we think of our seniors, disabled neighbors, and our own vulnerabilities as we age or get sick.
Dr. McCaughey’s book is very easy to read and touches a little broader on many of the above topics. http://www.amazon.com/Beating-Obamacare-Your-Handbook-Healthcare/dp/1621570797