Healthcare Reform Lowering Costs in Essay

The amendments have had practical impacts such as repealing the tax mandate of the employer, health insurance tax of small businesses and decreasing the burdens on individuals and businesses. The compliance cost for small business owners has risen by 36% higher than that of larger corporations. Similarly, the average U.S. citizen has already been overtaxed.

Since the passing of the Affordable Care Act, Americans have not enjoyed the benefits that come with it. While the country is characterized by a highly partisan political climate, the congress is full of voice of reason. These voices claim that the Act should be amended so that the pain can be reduced in the future. More policy makers have been encouraged to pull in their efforts. After years of the groundbreaking changes on the Care Act, one of the advantages associated with this law is that it supports a low rate of uninsured Americans. The law has enhanced the possibility of people accessing health care with improved costs and enhanced quality. Without the changes, the healthcare industry and most Americans argue that the rising costs would have unraveled the country's universal health care coverage. This is commendable because it might have resulted in a crushed national budget due to bankrupt businesses. In the next ten years, experts have projected that the law will save approximately $100 billion.On the other hand, the changes have a number of notable disadvantages, too. It is obvious that the new healthcare Act has not adequately lowered the costs of health care. However, it has incorporated provisions that seek to limit the expansion of Medicare costs to hospitals. For instance, the Act has been financially penalizing health care institutions for excess re-admissions of patients who had been previously released. Further, it has tied providers' increase of prices in the overall national economic growth rate. These restrictions suggest that the leading providers must make major adjustments. The most evident disadvantage is that the law is unenforceable. If the financial performance of the industry exceeds the four percent annual growth limit, the government is expected to impose penalties on providers.

However, healthcare companies are considered to huge to change. The law has focused excessively on the health care cost problem. It has caused people to concentrate on contracts being processed and their future expectations. Americans expect that a government involvement policy should be induced as the government has a critical role to play in reducing the cost of health care. According to this policy, the state is mandated to assume the burdens of healthcare costs. This is because most Americans are expected to obtain Medicaid coverage or….....