Affordable Care Act Essay

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The Affordable Care Act The 2010 Affordable Care Act (ACA) is anticipated to make the federal government fiscal economic condition worse than it has ever been compared to any prior healthcare law the United States has ever seen (Blahous, 2012). Between 2012 and 2021, this Act is anticipated to increase our fiscal budget and add over $340 billion at minimum up to $530 billion at the most to our deficit and at the same time, increases the spending of the federal government by over $1.15 trillion over and the amounts will increase every year thereafter (Blahous, 2012). Certainly, there are some benefits to the ACA which were touted as the main points which got the law passed, but as Nancy Pelosi famously said before the law was passed, “We have to pass the law to see what is in the law”, the rest of the Act was the bottom of the iceberg that just might sink our country. The financing of the ACA On March 23, 2010, President Barack Obama signed into law the Affordable Care Act. This law established a mandate that all citizens of the United States would have to purchase health insurance or join one of the federally subsidized health insurance exchanges. Medicaid eligibility would be expanded to include hundreds of thousands of more enrollees, and at the same time the Medicare payment growth would be reduced and new taxes would be imposed to pay for this new law. The promise sold to the citizens of this country was that this comprehensive reform package would correct our currently unsustainable fiscal outlook. The provisions of the ACA are that it would increase federal health care expenditures by including provisions for expanded healthcare coverage under expanded Medicaid eligibilities and through the Children’s Health Insurance Program, or CHIP. Both of these programs have been developed for the poor. To offset these costs for expansion of the two

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