Before the Affordable Care Act was implemented, people with chronic medical problems often ran out of coverage before their coverage ran out. Now however, thanks to this law firms must offer insurance as well as covering many screenings at reasonable copays or deductibles.
Guaranteeing coverage for preexisting conditions while limiting lifetime dollar limits are other key benefits of health reform.
1. More People Have Health Insurance
The Affordable Care Act (ACA) prohibited insurance discrimination based on preexisting conditions, ensuring all plans included essential health benefits (EHBs). Furthermore, lifetime limits were banned as were insurers from denying coverage to women for preventative services like mammograms. All plans also must include maternity care.
The Affordable Care Act created an individual marketplace where individuals could purchase private coverage independently and receive financial assistance if eligible. These new options made insurance available to millions more people who had never had it before; as a result, uninsured rates fell rapidly.
The Affordable Care Act expanded Medicaid eligibility criteria, expanding coverage of more low- and middle-income families. States were required to make applying for benefits simpler; transparency increased with consumers being able to easily compare costs for various medical procedures; data use requirements were enforced as part of healthcare delivery/payment innovation programs;
2. More People Have Access to Preventive Care
The Affordable Care Act, commonly known as Obamacare, is making it easier for millions of Americans to access preventive health services they need – from disease screenings and immunizations to advice about healthy eating and physical activity. Furthermore, insurers must spend at least 80 percent of premium dollars directly on actual care instead of advertising and overhead expenses.
The Affordable Care Act also helped bring down costs by ending insurance company practices such as placing lifetime dollar limits, cancelling policies when someone becomes sick, and charging more due to pre-existing conditions. These changes made health insurance more accessible for millions of Americans.
The Affordable Care Act’s marketplaces enabled Americans to select an insurance plan that best meets their needs, with plans organized into tiers based on monthly premiums, deductibles and care costs. Furthermore, financial assistance programs were put in place so low income individuals and families can afford healthcare coverage they require.
3. More People Have Access to Prescription Drugs
Prescription drugs provide broad health benefits, yet their high prices limit consumer access. The Affordable Care Act has taken several measures to decrease drug costs, including expanding consumers’ ability to itemize medical expenses on taxes, banning lifetime and annual dollar coverage limitations, and closing the Medicare Part D coverage gap (also known as “donut hole”).
Additionally, the Affordable Care Act supports faster Food and Drug Administration approval of biosimilar drugs – cheaper versions of branded prescription medications – helping to bring down their cost and make lifesaving medications more accessible.
When asked to prioritize affordable and reliable prescription drug coverage for older adults across party lines, majority opinion shows they prioritize lower co-pays at pharmacies over higher monthly premiums. They do not want their Medicare drug plan allowing restrictions such as forcing them to try more costly medications first or even barring certain ones altogether from coverage plans.
4. More People Have Access to Mental Health Care
Some don’t approve of Obamacare, but it is helping ensure everyone can access health insurance. Furthermore, it has helped keep healthcare costs from skyrocketing too rapidly and protect consumers against abusive insurance company practices.
In addition to mandating that insurers provide essential benefits, the Affordable Care Act prohibits health insurers from denying coverage due to preexisting conditions and creates state-based exchanges to help individuals and small businesses purchase health coverage. It also requires employers provide affordable quality health plans or pay a penalty fee.
The Affordable Care Act also includes premium assistance tax credits to lower the costs of health insurance for Americans with lower incomes. A family of four with an income equaling 400% of poverty level could qualify for zero-premium silver plans; RAND researchers continue to assess this program’s implementation and effects at local, state, and national levels.
