Bad News Obamacare: Americans Lack Insurance Understanding | Wall St. Cheat Sheet


“I think the need for information is pretty apolitical,” Lisa Zamosky, a WebMD health policy expert, told USA Today regarding the need for Americans to understand the particulars of the Affordable Care Act’s insurance exchanges that will launch on October 1. “You can love it, you can hate it. It’s the law. It’s happening.”

It is a need that the Obama Administration understands, but has had problems delivering. According to Health and Human Services secretary Kathleen Sebelius, the department lost approximately $15.5 billion from its budget due to the mandatory budget cuts that were implemented on March 1, and the loss of funds has forced prioritization. However, travel by department officials to promote the health care reform is a key priority. After all, the success of Obamacare depends on the success of the insurance exchanges, and for them to be viable, people must enroll.

In order to better help Americans better understand the exchanges, the government has given the exchange website — www.healthcare.gov — a face lift, adding a new webpage, training videos and infographics on Monday. “Everywhere I go, I meet people who are excited about the marketplaces and hungry for information,” Sebelius told USA Today, following the announcement. “Hungry” may not exactly be the correct term, especially in all parts of the United States; “deficient” in knowledge might be more accurate.

via Bad News Obamacare: Americans Lack Insurance Understanding | Wall St. Cheat Sheet.


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The Patient Protection and Affordable Care Act (PPACA),commonly called Obamacare or the Affordable Care Act (ACA)


Great_Seal_of_the_United_StatesThe Patient Protection and Affordable Care Act (PPACA),[1] commonly called Obamacare[2][3] or the Affordable Care Act (ACA), is a United States federal statute signed into law by President Barack Obama on March 23, 2010. Together with the Health Care and Education Reconciliation Act, it represents the most significant government expansion and regulatory overhaul of the country’s healthcare system since the passage of Medicare and Medicaid in 1965.[4]

The ACA aims to increase the quality, affordability, and rate of health insurance coverage for Americans, and reduce the costs of health care for individuals and the government. It provides a number of mechanisms—including mandates, subsidies, and insurance exchanges—to increase coverage and affordability.[5][6] The law also requires insurance companies to cover all applicants within new minimum standards and offer the same rates regardless of pre-existing conditions or sex.[7][8] Additional reforms aim to reduce costs and improve healthcare outcomes by shifting the system towards quality over quantity through increased competition, regulations, and incentives to streamline the delivery of health care. The Congressional Budget Office projected that the ACA will lower both future deficits[9] and Medicare spending.[10]

On June 28, 2012, the United States Supreme Court upheld the constitutionality of most of the ACA in the case National Federation of Independent Business v. Sebelius. However, the Court held that states cannot be forced to participate in the ACA’s Medicaid expansion under penalty of losing their current Medicaid funding.[11][12]

For More Information Please visit: Patient Protection and Affordable Care Act

 


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