Reading this article, you must know that Obamacare is another term used for the Affordable Care Act (ACA) 2010. To the date, ACA has accomplished much more than it’s drafters may intend while drafting it. Obamacare insurance plan has considerable evidence of providing an increment in healthcare access and reducing medical debt.
Besides, there is a growing concern regarding the Obamacare insurance plan’s affordability, especially health insurance coverage for the middle class or working-age consumers.
By working age or middle class, those people are addressed who’s income exceeds 400% of the federal poverty level (i.e. about $100,000 for a family of four). While citing a grave fact here, this is the only American group who, when insured, never receive any kind of federal tax subsidy or financial assistance of healthcare coverage. Obamacare is the first plan of its kind, which not only ensures the middle class a better health care facility but also provides them with required much-appreciated assistance.
There are three basic strategies designed by Obamacare that works for the middle-class to lower healthcare costs;
- Obamacare emphasis preventive care.
- It provides subsidies to make health care more affordable.
- The legislation of Obamacare insurance improves how healthcare is delivered itself,
These three strategies of the Obamacare insurance plan are meant to provide treatment to more people before they needed expensive emergency room care.
What is the significance of preventive care? A single day in a hospital, on average, costs round about $2,517. While most people presume that their insurance pays more than this. Some of them may not be able to pay a high deductible. However, before Obamacare insurance, they could get hit with another bill. Besides, many found that most of the times, their other insurance plans have low maximum, and they were themselves responsible for any cost above that. While, the Obamacare plan forced the insurance companies to all of the charges by eliminating the annual and lifetime limits to reduce the instantaneous catastrophic costs for the individual.
So, cheers to Obamacare insurance! Which really provides assistance while feeling the pain of not only the middle-class but also people from all other socioeconomic backgrounds.