Whenever the government passes a law the first question should always be how much this is going to cost the American people. When they pass a law the size of the Affordable Care Act, also known as Obama Care, this question becomes even more important. While the 1.1 trillion dollar price tag sounds extremely high, the question must be: is it going to be worth it? The Obama administration says it is. To fundamentally change health care in this country can there be too high of a price tag? Here are some thoughts on the price of Obama Care.
How I this going to change things?
When you begin to look at Obama Care the first thing that should jump off the page is the reforms that it provides. The bill eliminates things like pre-existing conditions. That means that anyone can change insurance at any time. This is a good thing and it will benefit people. Another positive is that it provides healthcare to everyone, which Obama Care does something that has been unheard of before. So, in these aspects the price of Obama Care seems to make sense.
In addition, Obama Care is supposed to reduce the budget deficit by 250 billion dollars over the next ten years. This is also a plus in a day and age where we never hear about anything that actually reduces the deficit. In the grand scheme of things Obama Care seems like a no brainer. Before America gets too excited for all that Obama Care does that is good, there are plenty of things that it does that does not make as much sense.
The Added Cost
Obama care is going to cost Americans 1.1 trillion dollars over the next ten years and that money is going to come straight from the tax payers’ pockets. Through a series of penalties and surcharges American tax payers’ are going to foot the bill for this law. Everyone in America is going to be required to have health insurance. That means that no matter how affordable the insurance is, you are going to have to spend money that you may not have had in the past. If you decide not to purchase the insurance you will be charged a penalty on your income tax return.
Beginning in 2015 every smoker in America will not be required to have health care insurance, but you will pay an extra surcharge that can raise your premiums by fifty percent. As an American you will be charged extra if you smoke. While there are those that say this is a good thing. It is once again eroding away our freedom to choose how we live our lives. The kicker to all of this is that if you take away the requirement to have insurance, and the smokers surcharge, Obama Care would be a huge success.