Repealing three of the taxes that have help fund the Affordable
Care Act will cost our government more than lost coverage.
It's estimated that in the next decade, with the elimination
of the Cadillac, health insurance, and medical device tax, the cost to the
government will be close to $374.0 billion in lost revenue. Removing the funding has many wondering how
expanding health care coverage to all Americans is possible. While it seems as though access to affordable
health benefits is something most agree upon, paying for it is an entirely
different dilemma.
As the 2020 enrollment period ended, individual health care
premiums were lower. Yet, the entire law is in jeopardy with no back-up in
place, elevating anxiety, and confusion among those needing it most!
The good news is the ACA is still intact for now. The marketplace that was created for
individuals to shop for health plans is still up and running. The political discord around the ACA had
many thinking it was a thing of past and the fact that very little outreach
took place during open enrollment to channel the uninsured to the website.
Another positive is that premiums are down nationally by 4%
in what turns out to be a very stable health platform. This does require some work in shopping
around on site HealthCare.gov to find the best plan even if you're already
enrolled. Experts advise that regardless
of whether you're new to the ACA or a 'veteran,' it pays in savings to shop!
The Affordable Care Act and how to fund it remains
uncertain. Still, regardless of the changes that may be on the horizon, nothing
drastic that will affect anybody will change overnight.