The Patient Protection and Affordable Care Act of 2010

U&feature=youtu.be U&feature=youtu.be The YouToons Get ready for Obamacare

Health insurance market was working well for the insurance industry, but not for patients & clinicians 50+ million Americans were uninsured, tens of millions more were underinsured, and those with coverage were often afraid of losing it Many medical practices work without support they need to provide coordinated, patient-centered care that is safe and effective Affordable Care Act: Why Now?

Essential care providers face crushing paperwork, uncertain payment, and rising health care costs Insurance bureaucracy was adding more paperwork to doctors’ practices, reducing their time with patients Patients with no coverage or limited coverage go without or delay seeking needed care Health care outcomes in the U.S. continue to lag behind many other countries, despite spending far more on care Health care costs have doubled over the last 10 years A Broken System

1.Makes Health Care more affordable to purchase by offering tax credits to individuals and businesses as well as covering preventative care in health insurance plans 2.Law will prevent denials of coverage, including for pre-existing conditions or making a mistake on coverage applications 3.Children can stay on their parents insurance until age 26 4.Insurers are also required to spend 80-85% of premium dollars on patient care and eliminates lifetime benefit limits 5.Insurers won't be able to charge women more than men 5 Pros of the Affordable Care Act

1. Makes Health Care More Affordable

2. These abuses used to be legal: The new law ends these practices for good.

There are PCIP plans in every state for people who’ve been locked out of the insurance market because of a pre-existing condition like cancer or heart disease. “When I was diagnosed, they told me I had a 60 percent chance of being cured. That's pretty good odds, but I was also terribly worried about finances. Now I don't feel like we can't afford the treatment." --Gail O. in New Hampshire For more, visit 2. Pre-Existing Condition Insurance Plans

Most young adults under the age of 26 can now stay on their parents’ health plans – 2.5 million young adults are already benefiting from this provision. “I honestly don’t know what we would have done…. There was no way we could have afforded it. I might not be here right now.” --Kylie L., 23, in Illinois, who credits the health care law for enabling a life-saving heart transplant 3. Increases Access to Affordable Care

BEFORE, insurance companies spent as much as 40 cents of every premium dollar on overhead, marketing, and CEO salaries. TODAY, insurance companies must spend at least 80 cents of each premium dollar on consumer health care. If they don’t, they must repay the money. 4. Holds Insurance Companies Accountable 60% / 40% 80% / 20%

Women tend to have more healthcare expenses than men due to pregnancy, however this cannot be grounds for increasing health care premiums. 5. Cannot charge women more than men

Kentucky is one of 18 states that opted to run a state exchange marketplace – 106,330 people have enrolled through the exchange as of Feb. 22 – 69% of those qualified for tax credits for health care Kentucky is one of 22 states that opted to expand Medicaid – 492,522 people have gained Medicaid coverage Gallup reports that Kentucky’s uninsured is down to 8.7% in 2015 from 20.4% in 2013 ACA in Kentucky

1.Individual and Employer Mandate: If you don’t buy health insurance, you must pay a fine (tax) 2.New and higher taxes: health care subsidies will be paid for by an increase in taxes on certain high-earners and medical innovators 3.Possible higher premiums, at least in the short-term, due to preventative care services now being offered and millions of people lost their health care plans because they didn’t meet federal requirements 4.Increased demand for health care on an already strained system with shortages of doctors and physicians 5.Congressional Budget Office estimates a cost of $1.76 Trillion dollars over 10 years 5 Cons of the Affordable Care Act

Individual penalty for not having insurance is $97 per adult and $47.50 per child or 1% of your household income annually – Some exemptions available – May be cheaper to pay the fine than pay for health insurance Employers of more than 50 people will face penalties of $2,000 per uninsured employee Employers of less than 50 people are exempt from this mandate 1. Individual and Employer Mandates

Taxes were raised in 2013 on one million individuals on incomes exceeding $200,000 and four million couples filing jointly on incomes exceeding $250,000. They pay a total of 2.35% (up from 1.45%) FICA taxes on income above the threshold. They also pay an additional 3.8% Medicare taxes. In 2013, medical-device manufacturers and importers paid a 2.3% excise tax. Indoor tanning services pay a 10% excise tax. This could discourage those businesses from hiring new employees. 2. New and Higher Taxes

Increased coverage may actually raise overall health care costs in the short-term. That's because many people will receive preventive care and testing. These additional tests, such as cancer screening and cholesterol tests, will lead to higher medical spending. There are 30.1 million people who currently buy their own private health insurance. Many of them have had their plans cancelled by the insurance company because the plan doesn't meet the 10 essential health benefits. Their costs of replacement insurance is higher because it provides services, like maternity care, that many of them don't need. 3. Higher Premiums and Loss of Plans

Increased enrollment in health plans means an increase in demand for health services; this will lead to an increased need for more doctors and medical staff to perform these services when we already have a shortage in many areas of the country. 4. Increased Demand for Healthcare

Congressional Budget Office estimates a cost of $1.76 Trillion dollars over 10 years, when we are more than $17 Trillion in debt. The plan to pay for this program includes tax increases as well as predictions in the health care market that are most likely uncertain. The plan also assumes that younger, healthier people will buy insurance to make up for sicker people that will now have insurance. 5. How to Pay for this Plan?