The infamous Affordable Care Act, passed by the 111th Congress of the United States under former President Obama, is on the brink of destruction, and here is why:
Premiums Are Rising at an Unsustainable Rate:
According to the New York Times, healthcare premiums increased on average by more than 25% in 2017. This is due to the lack of free market competition and the fact that most healthcare providers have pulled out of many American counties.
In fact, according to Time, 1/3 of all American counties only have one insurance provider. For example, in Chicago, the list of providers who left the exchange in 2016 included UnitedHealthCare and Aetna (Chicago Tribune).
Healthcare Coverage Shouldn’t Be a Government Mandate:
As logical, educated Americans, healthcare should not be pressed on us by the government. Although healthcare may be seen as a right, this does not mean the government should sponsor or subsidize it. For example, having the ability to bear arms is a Constitutional right, but I have yet to receive my government mandated and subsidized firearm.
According to the IRS, 19.2 million Americans chose to pay the penalty or seek exemption from the penalty fee for not having insurance. You know a system is broken when people are paying the penalty to save money.
It Is Impossible to Insure Pre-Existing Conditions:
Part of the Obama administration’s agenda was to force insurance companies to cover and insure pre-existing conditions such as Cancer. However, the entire point of insurance is to balance risk with coverage which is not possible with someone who is already incurring enormous medical expenses.
I believe that people with conditions should be covered and that all Americans should have access to healthcare, but more competition is necessary in these scenarios to keep premiums and deductibles low.
It is Killing Jobs:
According to the CBO, the independent budget office, 2 million full time employees will be out of work due to the implications of Obamacare. This is due to the fact that insurance is expensive for employers and employees alike. The ACA slaughtered many small businesses by forcing them to provide medical insurance-an extremely expensive endeavor.
Read also: Is Obamacare here to stay?
The health of Americans is a bipartisan issue and should be a top agenda for the country’s leadership. Sadly, the American Healthcare Act, which was pulled last Friday, did not fix all of the many issues with Obamacare. Due to that fact, more bipartisan dealmaking and conversations must occur in the near future before this failing system implodes.
What do you think about Obamacare? Are there any other reasons you can think of for why it’s failing? Let us know in the comments below!