When the Affordable Care Act was signed into law in 2010 there were so many predictions going on. This will never last…. How can we possibly sustain this… This will change everything… Whether you were for the Affordable Care Act or against it we have seen some drastic changes in our country because of it. We have seen people who were not insured be penalized on their federal income taxes for not signing up. We have seen families adjusting to different expenditures on their health care. We have seen many who never had health insurance now be covered. But one of the questions that you may be asking (along with many other Americans) is the Affordable Care Act here to stay?
This is an excellent question and depending on who you ask you may receive two drastically different answers. The Los Angeles time recently reported on a study done by the Urban Institute which gathers and studies information about economics and social policy. Their recent study about the Patient Protection and Affordable Care Act started in 2011. Their studies show “a widespread slowdown in spending growth expenditure projections and the cost of the ACA” Meaning that the projection of spending for the years 2014 – 2019 is $2.6 trillion lower than what was originally thought to be needed. Which leads many people to speculate that the Affordable Care Act is working and therefore here to stay.
However, in June of this year we saw House Speaker Paul Ryan calling for and presenting his plan for healthcare reform. His plan detailed that they would like to “repeal Obamacare, Provide Americans with more choices, lower cost and greater flexibility as well as protect our nation’s most vulnerable and spur innovation in healthcare.” Paul Ryan also said that he wants to shift from Obamacare’s focus on quantity and how many people are covered to quality and ensuring that people receive the care they want. However, this plan has come under attack because the plan lacked specifics on how they would make these changes.
It seems that this debate will be continuing for some time. But know that we at Bernardini & Donovan plan on staying ahead of the curve so that with each change we can equip you with all the information that you need and the help design health coverage plans for you and your family.