...The Impact of the Affordable Care Act on Businesses Sadie Boyd Webster University FINC 5000 Abstract This research paper was created to bring a better understanding on how the Patient Protection and Affordable Care Act affect business, government, and average American. Small business owners have historically had a much harder time providing themselves and their employees with insurance due to rising health insurance costs; meanwhile bigger businesses remain largely unaffected due to the leverage buying large group health plans gives them. This problem has only gotten more severe in the past decade. Today, almost half of America's uninsured are small business owners, employees or their dependents. There are around 44 million Americans who currently are unable to get health insurance. The Patient Protection and Affordable Care Act (PPACA,) signed into law by President Barack Obama on March 23, 2010. Several rationales were offered in support of this legislation, including that it would lead to the creation of jobs and the reduction of the federal budget deficit. Everyone is affected by this health care in one way or another. The Patient Protection and Affordable Care Act Consistent with respected economists‟ forecasts, the health care law contains a number of provisions that will eliminate jobs, reduce hours and wages, and limit future job creation. Specifically, the law: * Penalizes employers for failing to offer coverage deemed acceptable by the government; ...
Words: 3573 - Pages: 15
...How would repealing the Affordable Care Act affect you and the locals near you? The Patient Protection and Affordable Care Act also known as Obamacare, was signed into law by former president Barrack Obama in March 23rd 2010. The health reform offers millions of Americans numerous benefits, rights and protections that ultimately are set to improve the access, quality and cost containment of the American health care system. When we discuss the advantages of Obamacare we often look at how it affects the individual enrolled, but we are less likely to analyze how does Obamacare affect the neighborhood locals such as drugstores and pharmacies. With the election of the new president of United States Donald Trump in 2017, the Affordable...
Words: 720 - Pages: 3
...Individual Project 5 Liz Palomo AIU Online HLTH330 Abstract This paper will explain how the new Affordable Care Act came to existence in March 2010. In addition, key features of the law will be described and how these new changes affect employees and employers. Introduction The Affordable Care Act (ACA) as signed on March 23, 2010 by President Barack Obama with the purpose to provide complete health insurance that will; hold insurance companies’ accountable, decrease the cost of healthcare, guarantee more choices, coverage expansion, and enhance the quality of care for all Americans (ACA History, 2016). The affordable care Act is comprised of two separate pieces of legislation; Patient Protection and Affordable Care Act, the Health Care and Education Reconciliation Act of 2010 (ACA History, 2016). How ACA Came to Existence For the last 75 years democratic Presidents had attempted to create a nationwide insurance system but they were all unsuccessful. In 2009 was the first year of Obama’s presidency and the house of Democrats introduced a plan of 1,000-page plan with the intention to overhaul the healthcare system on July 14th causing a raged debate on the topic (ACA History, 2016). The senate prohibited individuals that were unlawfully present in the U.S. to benefit from the health reform. Although all republicans voted against it, the senate bill was amended and approved by the House...
Words: 1188 - Pages: 5
...How Does Your Business Fair? (The Impact of Affordable Care Act on Small Business) On March 23, 2010 President Obama signed into law the comprehensive health reform known as the Patient Protection and Affordable Care Act informally known as Affordable Care Act. According to the Executive Office of the President, Council of Economic Advisors (EOP/CEA), “the key goals of health care reform is to reduce the growth rate of costs while maintaining choice of doctors and health plans and assuring quality, affordable health care for all Americans.” (The Economic Case for Health Care Reform, June 2009) The ACA is created to improve the overall quality of health care delivery and its’ systems while adding new consumer protections. In the ACA there is a clause known as the individual mandate. This mandate requires most U.S. citizens and legal residents to obtain qualifying health care insurance coverage, and if not will be required to pay a tax penalty. Effective January 1, 2014 employers with fifty or more employees that do not provide affordable health coverage will receive an assessment where for those businesses with less than fifty employees are exempt. States have created health benefit exchanges for individuals and small businesses through which health coverage can be purchased at affordable prices. The Department of Health and Human Services (HHS) published several fact sheets and brochures highlighting what the ACA means for large and small businesses, individuals...
Words: 2468 - Pages: 10
...Regulation, and Policy Paper The Affordable Care Act is a law that has had a significant impact on the health care industry. The Affordable Care Act, also known as the ACA, is a health care law implemented in 2010 that gives consumers more control over their health care. The law gives Americans the ability to make knowledgeable decisions about their health. The law is influenced by lack of comprehensive insurance coverage, high insurance costs, and limited choice of health care. The law makes health care more reasonably priced, accessible, and of higher quality for families, the elderly, businesses and tax payers. Also, the law allows previously uninsured Americans to obtain sufficient coverage. The law is important because it improves health care. It improves health care by increasing insurance coverage. Medical coverage is available to adults up until the age of 26 and denial for pre-existing medical conditions is prohibited. The law is also important because it improves health care costs. The law ends lifetime limits on coverage and reviews premium increases. More care options are also available with the law. The law removes insurance company barriers to emergency services, allows patients to choose their health care provider, and covers preventative care without an out-of-pocket cost to the patient. Throughout this paper, there will be discussion on several different topics regarding the impact of the Affordable Care Act on health care organizational policies and the general...
Words: 1773 - Pages: 8
...What is Obama Care? Specific Purpose: To inform Central Idea: Help people learn about the Affordable Care Act and how it will affect us. Introduction I. What is the Affordable Care Act? Does it affect us in any way? Do we even know what it is? Sadly most Americans don’t know what the Affordable Care Act is or how it will affect us. II. Well it is going to affect the way all of us are insured, the services we are provided as well as the cost to be insured, and the penalty’s that are being placed. III. Well after researching I learned what the Affordable Care Act is and how it will affect us all. IV. Today I am going to talk about what the Affordable Care Act is the changes being made, how it will affect people without insurance, and how employers will be affected. Transition: To start let me talk about what the ACA is and the changes that are being made in healthcare. Body I. The ACA is a set of health insurance reforms which was signed into law on March 23rd, 2010.1. 1. Since the passing of the law health insurance has started to reform in stages and as of January 1st 2014 the government will have set all the changes that would be mandatory for health insurance. 2. Insurance plans will now come with 100% preventative care and essential health benefits. a. Preventative care will be required in all plans some examples include screenings for cancer, obesity and diabetes as well as birth control and yearly physicals. b. As stated...
Words: 1134 - Pages: 5
...Today’s Health Care Reform in the United States Tiearia Fariss HCS/235 July 21, 2013 Professor Cyndie Miculan In the United States there has been always a problem with citizens who do not have medical coverage. Health care reform is part of an ongoing debate in the United States. The government has been pondering on many ways that the government could help the United States citizens obtain health care that currently do not carry health care. In March of 2010 the President of the United States Barrack Obama signed into law the proceeding for the Affordable Care Act that would offer health insurance to millions of Americans. The reasoning behind so many citizens not possessing health insurance at the said current time is because of lack of income to help pay for the needed medical coverage. With this new law there are income related subsides that would help individuals afford the need medical coverage at a cost that is affordable to the individual. When deciding on why the Affordable Care Act would be ideal for the United States the government took into consideration the market rules as well as the quality improvement as priorities for health reform. There are definitely some pros and some cons to the new health care reform that...
Words: 1112 - Pages: 5
...Dilemma Paper: Health Care Reform Ethics stands for morality. Morals involve having a sense of right and wrong, good and bad; all are notions that affect the human conscience. Morals inspire rules of actions. In today’s health care with longer life spans, increased dependency on technology advancements, diversity and staff shortages, new demands for collaborations are creating challenges for health care professionals. Health care departments and professionals are there to improve care, provide treatment services, and outcomes, professionals must recognize and respect the rights of each patient and conduct business in an ethical manner. With today’s health care reform is this standard being compromised? Why has this health care reform struck such ethical controversy? Is it because politicians desired to gain the peoples vote against their opponents with Obamacare? Maybe politician’s moral beliefs and values were not to benefit all. In 2010 ethical challenges were brought on when the Patient Protection and Affordable Care Act (PPACA) a federal statue was signed into law by President Obama, requiring U.S. citizens and legal residents to have health insurance and be qualifying health insurance. Congress and the President passed legislation that reduces payments for health care professionals and increases penalties for citizens and businesses, pushing health care providers to nearly being bankrupt, further risking accessibility for all Americans. Health care is defined as the prevention...
Words: 772 - Pages: 4
...Paper: Healthcare Services and The Affordable Care Act (ACA). Table of Contents: Abstract……………………………………………………………………………………...3 Introduction………………………………………………………………………………….3 Background of the Affordable Care Act …………………………………………………4 The Affordable Care Act………………………………………………………………….. 5 Methodology………………………………………………………………………………...8 Collection of Data…………………………………………………………………………..9 Primary………………………………………………………………………………10 Secondary…………………………………………………………………………..11 The Environmental Working Group………………………………………………………12 Primary Survey…………………………………………………………………….13 Questions and Answers…………………………………………………………...14 Findings from the collection of information and data…………………………………..15 Conclusion and recommendations……………………………………………………….17 Appendix A: SWOT Analysis……………………………………………………………..19 Appendix B: EWG’s Business Strategy …………………………………………………26 Appendix C: EWG’s Business Analyses………………………………………………...32 Appendix D: References…………………………………………………………………..37 Abstract Healthcare has been a topic of debate since a long period of time. The recent changes in the government legislation have specified some employer-based requirements for the healthcare provision to employees. Many organizations have also been impacted by the legislative amendments. The following section will cover the introductory knowledge of the Affordable Care Act along with its objectives. Furthermore, we will discuss the impact of this act has on the American society as a whole...
Words: 7737 - Pages: 31
...Affordable Care Act By Ketan Narotam Affordable Care Act On March 23, 2010 with congressional approval President Barrack Obama signed the Affordable Care Act. The Affordable Care Act is in no doubt one of the most important and key legislation signed by the President. The Affordable Care Act reforms our current health care system and holds insurance companies accountable. The Affordable Care Act also improves our health care system by lowering costs, guarantee choice, and improve the quality of our health care for all Americans. Although, The Affordable Care Act is unpopular among most Americans because they view it as Socialized Medicine (Schoen). I feel that majority of Americans who are against the Affordable Care Act, are misinformed by the Republicans, who wants to repeal the law. In this essay I will be discussing why the Affordable Care Act should not be repealed by the Republican Congress, and at the same time give a fair and balance approach to this issue. The Affordable Care Act is very unpopular among Republicans. The two main reasons Republicans give on why they are against the Affordable care act are: cost and the impact and on the debt. I find these claims to be untrue and bias, but I will explain these reasons in a later paragraph. For now let’s look at these untrue claims from Republicans in more detail. The most popular claim by Republicans is the negative effect the Affordable Care Act will have on health insurance. According to David...
Words: 1577 - Pages: 7
...that regulates issuance, content, and pricing of private group health insurance plans. She continues to explain that the purpose of this legislation is to raise the number of insured persons and ensure that people who are sick receive needed care. One major reason for implementing new legislation was the fact that there were so many uninsured people that were employed (Kaestner, 2002). According to the U.S. Census Bureau 2000, twenty-three million people between the ages of eighteen and sixty-four were employed but uninsured in the U.S. in 1987. Furthermore, that number increased throughout the late eighties (U.S. Census Bureau, 2000). Kaestner believes that the reason for so many uninsured employed people is that insurance industries refused to sell insurance to companies that are considered high-risk companies. Because of that, one out of every two employees were uninsured. Kaestner explains that to combat this, states started limiting insurance companies’ unfair practices through legislation called reform. Furthermore, Kaestner explains that another major reason that led to a change in laws and legislation was state regulated mandated health insurance benefits. She explains that in order to ensure that people still receive appropriate care, states have specified the types of treatments and the kinds of providers an insurance plan must cover. The popularity of mandated benefits grew dramatically over time (Kaestner, 2002). Even though the popularity of mandated insurance benefits...
Words: 1290 - Pages: 6
...Affects of the Affordable Care Act on Taxpayers The Affordable Care Act, largely known as “ObamaCare” was signed into law by current president Barrack Obama in 2010. As of 2010, approximately 50 million Americans were uninsured, ObamaCare was signed into law to significantly reduce the number of people currently uninsured, as rising health care costs can lead to insurmountable debt in the case of a tragedy. The recessionary economy at the time of signing played a huge role in the overall acceptance of ObamaCare; however, there were many side effects to such an overhaul and monumental health care reform law. Many-a-times, the real effects of such a program get lost in all of the biases presented from both the left and right winged. ObamaCare significantly affects taxpayers as it introduces new laws and regulations for individual tax payers and businesses alike. Net Investment Income Tax Little attention has been paid to the tax ramifications for American citizens as the deadline to apply for healthcare coverage quickly approaches. The Affordable Care Act affects three specific taxable areas for individuals, families, and businesses. The new law has seen extreme dissent and disapproval by upper-income level individuals and families because of the Net Investment Income Tax. Under this new tax proposal, as a provision of ObamaCare, a 3.8 percent Medicare surtax applies to the lesser of a taxpayer’s net investment income or the excess above the modified adjusted gross income thresholds...
Words: 2171 - Pages: 9
...------------------------------------------------- What Would Health Care Reform Mean for Small Businesses and their Workers? ------------------------------------------------- What Would Health Care Reform Mean for Small Businesses and their Workers? HLTH 5120 Health Policy Issues Valerie G. Austin 16 May 2012 HLTH 5120 Health Policy Issues Valerie G. Austin 16 May 2012 Valerie G. Austin Dr. James M. Brasfield HLTH 5120 Health Policy Issues 16 May 2012 What Would Health Care Reform Mean for Small Businesses and their Workers? The Affordable Care Act Increases Choice and Saving Money for Small Businesses. Small businesses are the backbone of our economy, but high health care costs and declining coverage have hindered small business owners and their employees. (Health Reform for Small Businesses/WhiteHouse.Gov) Part I Introduction The creation of the Affordable Care Act has brought many persons into a disagreement and has been in argument thru many administrations. Therefore we as a people should come together and set forth a plan that will be a benefit to All Americans. If we are to fix the economy of America we must repair the healthcare system. By reforming our healthcare system it will allow for you to maintain the coverage you have or seek another, delivering quality of care at a decreasing cost and waste elimination, allowing small businesses to remain competitive and reforming insurance coverage so there would never be a threat of losing coverage. “The Affordable Care Act requires states to create...
Words: 3286 - Pages: 14
...of a healthcare organization. My selection is a false managed care organization called GreenLine that is based on a well-known health insurance company that provides a variety of health care plans . In this paper the following will be discussed: factors affecting managed healthcare organizations, strategic initiatives, financial information, and organizational structure. Socioeconomic Factors Socioeconomic status (SES) is an economic and sociological combined total measure of a person's work experience and of an individual's or family’s economic and social position in relation to others, based on income, education, and occupation. Socioeconomic status is typically broken into three categories: low, middle, and high SES. Income has been shown to have a heavy effect on whether families will purchase health care insurance and it’s been proven that people with lower incomes tend to have more problems physically and mentally. Most diagnosis seen are respiratory viruses, arthritis, coronary disease, and schizophrenia. Lower socioeconomic status is also been said to link to stress. Legislative Factors Most recently there has been the ongoing implementation of Patient Protection and Affordable Care Act in the United States which affects all managed healthcare companies and businesses with more than 50 employees. Patient Protection and Affordable Care Act consists of a combination of measures to control health care costs, and expansion of insurance coverage. Policy Factors With...
Words: 1987 - Pages: 8
...The Patient Protection and Affordable Care Act and the Impact on Health Care Health care in the United States is constantly changing and innovations arise to manage cost and efficiency. The Patient Protection and Affordable Care Act (PPACA) is one of the latest innovations in healthcare industry, which aims to provide better care to the people while managing cost. The PPACA will be describe, the benefits of this new act will be discuss and the impact it will have in quality of life for the patients, spending, and how it will affect the future of health care. The Patient Protection and Affordable Care Act (PPACA) were signed into a law in March 2010. The PPACA main goal is to decrease the number of Americans uninsured and to reduce the cost of health care. Implementing PPACA is a challenge since every sector of health care is affected. Paul Keckley, Executive Director of the Deloitte Center for Health Solution said there were two significant realities with PPACA, which are the expectation of transparency, and the limited resources (2011 State of the Industry, 2010). Rules and regulations are constantly developed or modified to ensure cost is managed. According to “the National Association of Insurance Commissioners is providing the formula insurers will follow to tally their medical–lost ratios” (2011 State of the Industry, 2010, p. 14). There is no doubt that the economy is not doing well and for that reason, the health care field is feeling the consequences. The PPACA...
Words: 819 - Pages: 4
