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Impacts Obama Care Will Cause to My Business

Impacts Obama Care Will Cause to My Business

Affordable Care Act pseudonym as “Obama care” can be considered as a milestone set by the Obama Government in the nation of the United States. Obama Healthcare if we try to define the same it can be denoted as health insurance plans as well as related industry reforms under the supervision or concern of President Obama in the year 2010. After the launch of ACA or Obama Care, it created vibes throughout the country. It undoubtedly increased the number of people under the coverage of health insurance. This healthcare scheme helped to revamp the individual insurance market as a whole. Under this Affordable Care Act, ordinary people can purchase their policies as per their convenience and will. While discussing Obama Care, it is mandatory to mention that the law touches almost every sector or section of the industry, instead of saying every stratum of American industry. Obama care with a host of policies has drastically changed the manner or the way the doctors used to get paid as well as the costs involved in the healthcare sector in the United States of America, the policy initiated with a goal to slow down the increasing expense of health care around the country. According to individual reports it has been forecasted that more than 20 million people will be able to gain health coverage under the roof of Obama health care reforms.

We can jot down certain essential points that can prove or that can act as an advantage for Obama care –

  •  Obama Health Care Reforms focuses on “10 essential health benefits”. These ten health care benefits are services that made to comply with or accord with the Affordable Care Act or ACA. The “10 essential health benefits scheme” includes or encompasses issues related to mental health and well being, monitoring and keeping an eye on women health and wellness, preventing domestic violence, it actively supports the eradication of domestic violence on women.

          Apart from supporting women and mental health issues, it provides a brace for newborn and maternity care. ACA services assist people suffering from disabilities, injuries and certain continual conditions. Plans under ACA provide coverage for types of equipment that are required to treat chronic diseases and sudden injuries.  It also proves beneficial in covering emergency hospitalization, dental care as well as care for eye and vision, outpatient care, insurance plans for required and essential drugs.

  •    ACA reaches to people or has proved to be beneficial for those who are suffering from pre-existing health conditions, like if a person is suffering from a disease like tuberculosis, cancer, etc.  Under the rules of ACA, everyone needs to be covered up by health insurance.
  •    ACA strongly supports and has extended its arms to people suffering from chronic ailments. It has abolished any definite timeline and specific amount provided by insurance companies to patients. It suggests that insurance providers should not fix any limit regarding money which is suffering from chronic diseases. Without service delay health benefits to be provided to those patients.


  •    Under Obama care costs of prescribed drugs became relatively cheaper than yesteryears. Previously, it was observed that many people including senior citizens have not been able to afford medications properly due to higher costs. It was after ACA that prescribed drugs became more affordable than before.
  •    It was after the implementation of the Affordable Care Act that insurance providing companies were not allowed from unnecessarily increasing insurance rate without proper justification.

  Instead of these leverages after the introduction of Affordable Care Act or Obama Health care reform people, as well as small business ventures, are getting affected by the negativities of this health care reform. While discussing the effects of ACA, it is quite prudent to consider the negativeness as well.     

  •    Without having health care insurance under ACA can lead to adding an extra charge from your pocket as beautiful. If you are not under the roof of any health insurance and have not applied for any exemption, then you need to get yourself prepared for paying fine. And this fine can increase over time.  
  •    After the launching of the Affordable Care Act, several taxes were highlighted so that it can help to pay for ACA. As a result of which taxes are going up.
  •    The motto of ACA was to provide services in a broader range of medical aspects, and this has relatively increased the cost of premiums and as a result of which people needs to pay a higher premium than before.

If you own business, then you need to learn specific issues that can affect your business if you are running a small business venture.

  •    Obama care preaches for health insurance to be provided to at least fifty employees in an organisation providing service for thirty hours a week. And if the organisation fails to do so can incur a penalty.
  •    As a result of ACA, you may need to hire additional or supplementary workers to get the job done. Many small business ventures may not have the capacity to bear other expenses but to comply with Obama Health Care reforms you may need adjust with that other expenses.

However, ACA is subject to change with following amendments and it affects in the financial sector can be measured accordingly.

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