Health Care Reform Update – Pro’s & Cons

On June 28th 2012, the Supreme Court upheld “Obamacare”. What does this ruling mean for several Americans?

Pros

American’s in favor of Obamacare view this act with the following mindset:

1. Insurance companies no longer have unchecked power to cancel your policy, deny you coverage, or charge women more than men.
2. Soon, no American will ever again be denied care or charged more due to a pre-existing condition, like cancer or even asthma.
3. Preventive care will still be covered free of charge by insurance companies--including mammograms for women and wellness visits for seniors.
4. By August, millions of Americans will receive a rebate because their insurance company spent too much of their premium on administrative costs or CEO bonuses.
5. 5.3 million seniors will continue to save $600 a year on their prescription drugs.
6. Efforts to strengthen and protect Medicare by cracking down on waste, fraud, and abuse will remain in place.
7. 6.6 million young adults will still be able to stay on their family's plan until they're 26. 

Cons
American’s not in favor of Obamacare view this act with the following mindset:

1. Individuals will be required to pay an increasing penalty if they do not have and maintain health insurance coverage starting in 2014.
2. Potential for increased insurance premiums for individuals to help cover insurers financial burden.
3. Longer waits for medical attention as traffic increases at primary physician offices.
4. Fewer, overworked physicians – decreased quality of care and attention.
5. Small businesses with 50 or more employees that do not offer care within the required guidelines will face penalties each year that could significantly impact income and growth rate.
6. Loss and/or change of Medicare coverage due to program updates.
7. New and increased taxes on drug companies, medical device maker companies, hospital insurance, Cadillac health plans, limited amount taxpayers can deposit into FSA’s….etc.