The Disadvantages of the Health Care Reform Act

While the purpose of the Health Care Reform Act is to make health insurance more affordable for everyone, there are certain downsides that will affect many Americans under this new legislature. Changes will be made slowly as each stage of the law goes into effect, and while some are very subtle, some could have a dramatic affect on you and your family. Be aware of what these disadvantages are and how they could affect you.

Negative Affects on Older Citizens

The Health Care Reform Act caters  more toward younger people who may have healthier lifestyles than those who are old and suffer from many illnesses. These younger people will be able to receive the benefits of the new health care laws for much longer than those who are old and unhealthy. Additionally, insurance companies will no longer be able to charge lower prices for healthier habits, therefore affecting older, sicker citizens negatively.

New Fines For No Heath Care

In the Health Care Reform Act, all Americans are required to have some type of insurance and are no longer offered the freedom of not paying a premium each month as a public option becomes available to make it more affordable for all. While this sounds like a good idea, those who do not abide by this law will suffer the consequences, which come in the form of a fine of up to 2.5 percent of an individual’s income who is uninsured.

Tax Increases All Around

To pay for the Health Care Reform Act, Americans will be required to pay new taxes. Those who already have health insurance will pay their part of a $2 billion tax while anyone who buys over the counter drugs with money from their health savings accounts will have to pay their part of a separate $8 billion tax. Over the first ten years of the Health Care Reform Act, there will be over $572 billion in new taxes.

High Government Costs

The Health Care Reform Act will inflict an even heavier debt on the already suffering financial state of the country. The cost of this initiative could top over $1 trillion dollars over the next ten years, and will create deficits over the second five years after the reform. Over $34 billion will be pushed onto state budgets as more people than ever before become eligible for Medicaid.

Public Option May Be a Bad Option

While the government mandated public option for health insurance may sound good in theory to help those who are unable to afford other forms of insurance, it may not function as well in practice. It could potentially require some who must subscribe to the public option to pay even higher premiums than those who use a private insurance company and the public option may also deny more reimbursement claims than private companies do.

As when any new piece of legislature goes into effect, it is important to understand how the new changes will change the way we live and do things.  Since the Health Care Reform Act will continue to bring about new changes and regulations over the next several years, it could take over a decade to truly determine the results of the new laws. These disadvantages could be just a few of many that crop up as the country begins to see the effects of the act.