Repealonomics: Taxpayer funded TACTICS for Political OPTICS.
The
Affordable Care Act of 2010 was passed with the intent of providing affordable
access to quality healthcare to all Americans.
The
Affordable Care Act puts in place strong consumer protections, provides new
coverage options and gives you the tools you need to make informed choices
about your health. In this section, learn about how the law affects you.
To
explore details please click here.
The discussion around repealing
that Act is costing can impact tax payers in three ways.
First of all, the GOP has raised
a Vote to repeal 33 times so far. The First vote was on Jan of 2011 and the
latest one was in July of 2012. Each week of the House of Congress costs Twenty
Four Million dollars to the tax payer. In addition clogging the docket also deprioritizes
other key initiatives. Continuing this trend only delays us from moving forward.
Secondly there is a cost of
undoing aspects of the Act that’s already been implemented or is in the process
for implementation. To list some:
Effective Jan. 1, 2010: Up to 4
million small businesses are eligible for tax credits to help them provide
insurance benefits to their workers. The first phase of this provision provides
a credit worth up to 35% of the employer’s contribution to the employees’
health insurance. Small non-profit organizations may receive up to a 25%
credit.
National program established July
1, 2010
A Pre-Existing Condition
Insurance Plan (PCIP) provides new coverage options to individuals who have been
uninsured for at least six months because of a pre-existing condition. States
have the option of running this new program in their state. If a state has
chosen not to do so, a plan has been established by the Department of Health
and Human Services in that state. This program serves as a bridge to 2014, when
all discrimination against pre-existing conditions will be prohibited.
Effective for health plan years
beginning on or after September 23, 2010
Under the new law, young adults
are allowed to stay on their parent’s plan until they turn 26 years old. (In
the case of existing group health plans, this right does not apply if the young
adult is offered insurance at work.) Check with your insurance company or employer
to see if you qualify.
To
explore details of repeal votes please
click here.
To
explore details of Parts of Act already in place please click here:
Thirdly,
the repeal will have impacts on the Deficit. If the law is enacted, CBO and JCT
now estimate that the insurance coverage provisions of the ACA will have a net
cost of $1,168 billion over the 2012–2022 period—compared with $1,252 billion
projected in March 2012 for that 11-year period—for a net reduction of $84
billion. (Those figures do not include the budgetary impact of other provisions
of the ACA, which in the aggregate reduce budget deficits.)CBO and JCT now
estimate that fewer people will be covered by the Medicaid program, more people
will obtain health insurance through the newly established exchanges, and more
people will be uninsured. The magnitude of those changes varies from year to
year.
In
2022, for example, Medicaid and the Children’s Health Insurance Program (CHIP)
are expected to cover about 6 million fewer people than previously estimated,
about 3 million more people will be enrolled in exchanges, and about 3 million
more people will be uninsured.
Conversely
if the Act is Repealed, it would cause a net increase in federal budget
deficits of $109 billion over the 2013–2022 period.
To
explore details of Budget impacts please click below: