Affordable Healthcare Act: Benefits and Possible Downsides

The Affordable Care Act (ACA) has been fraught with controversies from the very start, and now, even months after its introduction, the controversies show little signs of abetting. Debates are alive as to the good and the bad sides of it and wedged between the claims of the supporters and the detractors of the new plan, people in large still seem to be in a lot of confusion. The following are the most salient points in regard to the pros and cons of the new healthcare plan.

Let us start with the positive sides. The primary aim of ACA was to include the possible biggest number of population under health insurance coverage. It is estimated that, starting from 2014, as many as 32 million Americans, who could not afford any health coverage until now, will be covered by the new healthcare plan. Among these are included 3.1 million Americans aged 19-25 who can now be added to the health insurance plans of their parents. Many of these young people are known to be working at various jobs and who still couldn’t afford any health insurance. In addition, no insurance company will, from now on, be able to deny coverage to patients with serious pre-existing conditions. The companies will also not be able to drop members from a plan when they get sick.

Most people are also expected to enjoy healthcare at reduced costs thanks to the new plan. Many may see a rise in the monthly costs of the more or less identical coverage’s, but the newer plans also come with lesser deductibles and annual out-of-pocket expenses. This means the overall costs of the similar plans will come down significantly for most people. Many are also of the opinion that the new plans will make preventative care more accessible. Importantly also, the new plan is expected to reduce the big budget gaps due to Medicare. The budget deficit is expected to get reduced by as much as $143 billion in five years from now.

On the downside, many fear that the Affordable Care Act will translate in higher medicine costs. According to the new plan, the pharma companies will need to pay $84.8 billion extra in fees over the period of the next ten years. This may result in rising drug costs if the companies look to pass the burden of this extra pay on to the consumers. Many have also predicted that America will reel under a huge shortage of health care workforce by 2020 as a result of some new mandates included in ACA. An AAMC study reveals that the shortage can be as huge as of 91,500 physicians by 2020.

Many people have also complained that they have found it extremely difficult to pin down the right plan for themselves from among the maze of all the different plans available. For example, someone residing in North Carolina may find it quite a challenge to visit the website of Blue Cross Blue Shield NC and find the suitable plan for herself all on her own. This is largely owing to the sheer number of different coverage schemes available under the new plan. Therefore, most people in North Carolina would need help of a BCBSNC agent who will help his client narrow down his choices and would explain in detail why certain schemes should be more beneficial to them than the others.

If you need help navigating the Blue Cross Blue Shield NC website and the schemes listed thereof and would like to engage the services of a BCBSNC agent, please feel free to contact us today.