How Did the Affordable Care Act Benefit People?

How Did the Affordable Care Act Benefit People?

On March 23, 2010, President Obama signed the Affordable Care Act into law, making healthcare more cost-effective by mandating health insurance coverage and broadening Medicaid eligibility eligibility requirements.

The Affordable Care Act contains numerous provisions with multiple primary and secondary impacts, making identifying their respective effects challenging.

1. Increased access to health care

The Affordable Care Act (ACA) ended the practice of insurance companies denying coverage or charging more because of preexisting conditions, while also prohibiting annual or lifetime dollar limits on health coverage, covering preventive services like cancer screenings and blood pressure checks without annual or lifetime limits, protecting doctor choice and offering appeal mechanisms when denied coverage by insurers, protecting physician selection rights and guaranteeing you get maximum value from premium dollars by mandating that plans devote 80% to 85% of revenue generated to actual medical care instead of advertising, overhead, or bonuses for executives.

The Affordable Care Act helps millions of Americans afford individual market insurance through premium tax credits and cost-sharing subsidies, making individual market coverage affordable for millions of American families. Rollback of this legislation would threaten their economic security as well as their families’ health.

2. Improved health care quality

Health care quality has improved considerably due to the Affordable Care Act (ACA). Health insurance companies must now cover preventive services without charging copays or deductibles – an effort designed to encourage people to be proactive with their health and prevent future costly health problems from becoming severe and debilitating issues.

The Affordable Care Act also eliminated annual dollar limits on coverage, providing Americans more financial protection against unexpected medical bills. Furthermore, closing the Medicare Part D “doughnut hole” has saved seniors an average of $1200 annually on prescription drugs.

As well, the Affordable Care Act is helping improve quality through initiatives like encouraging hospitals to better coordinate patient care after discharge and supporting community-based organizations that assist patients transition back home smoothly from hospital stays. Furthermore, greater transparency on health insurance costs has been provided through health plans being required to report prices in an easy-to-read format; while health literacy efforts provide people with information they need in order to make wise decisions for themselves regarding their own healthcare.

3. Reduced health care costs

In order to maximize value for consumers’ premium dollars, the Affordable Care Act mandates that insurance companies spend 80 to 85 percent of premium dollars directly on medical care – or they must offer rebates as promised – this has already saved consumers billions!

The Affordable Care Act also forbids insurers from discriminating against those with preexisting conditions or charging them higher premiums, and from setting annual or lifetime caps on coverage – protecting millions of Americans from running out of coverage altogether and shielding them against financially crippling medical episodes.

The Affordable Care Act also eliminates copays and deductibles for preventive services, like cancer screenings and blood pressure checks, encouraging healthier lifestyles while ultimately leading to lower health care costs in the long run. Economic research shows that as health care costs decline due to this legislation, savings will be passed along in higher wages for workers.

4. Increased productivity

Productivity measures the efficiency with which an organization or economy converts inputs into goods and services, so as to drive economic growth. Increased productivity allows firms to produce more output with limited resources while earning higher revenues – an outcome of increased productivity is economic expansion.

The Affordable Care Act has improved productivity by both lowering costs and improving healthcare quality. A recent study concluded that reforms of ACA increased high-value care within Medicare by restricting excessive payments to providers and private insurers while at the same time creating payment models to encourage more efficient healthcare services.

Additionally, the Affordable Care Act expanded access to community health centers that offer high quality primary and preventive care to underserved communities most affected by HIV/AIDS. These centers strive to ensure all people regardless of sexual orientation or gender identity/expression can gain access to culturally competent, equitably delivered health services – helping reduce health disparities while upholding Federal commitments against discrimination towards lesbian, bisexual, transgender, queer/intersex/asexual people.

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About the Author: Raymond Donovan