We cannot deny that Obamacare will impact society as no other bill has impacted it in recent time. Allegedly, improvement to the health care system has been debated since the Patient Protection and Affordable Care Act was signed into law on March 23, 2010. Now, just a few months from 2014 when the key elements of the PPACA will go live, Americans are still wondering if Obamacare will be as good when it comes to health insurance and life insurances for all as the President promised.
Avoiding Discrimination is Important
Although, many observers are focusing on the potential negative impact that Obamacare may have for small business owners, one good highlight is the universal access to life insurance and health insurance. Until today, people with disabilities and existing conditions have been limited to applying for insurance because their chances to get their applications approved are nulled, or limited to only certain conditions that usually increase the premiums they have to pay. However, Obamacare will open up the doors to affordable insurance other than Medicare and Medicaid.
Making Affordable Health Care Insurance
Obamacare considers that all families have to be eligible for affordable health insurance and therefore life insurance should also be more affordable to help Americans carry out insurance without the result being a financial burden that only a few could tackle. With Obamacare, all the insurers have to offer more competitive prices to remain in the industry market.
Actual Premiums Should Not Be Driven Up
One of the main goals of Obamacare is that all Americans carry health insurance, because there are still many people who do not have this insurance or life insurance either. However, all the citizen’s that already have health insurance should not face an increment in the premiums they are paying for the coverage. It is expected that insurance companies review their policies to make adjustments to meet Obamacare regulations, but this should not affect your finances.
Life Insurance Will Not Marry Health Insurance
Of course, having to carry out health insurance will not mean that life insurance will be enforced, but improvements in the health care system and insurance terms will improve the chances to take out life insurance at an affordable price. This means that people, who can actually buy health insurance but cannot afford life insurance, now will be able to get both without getting their premiums going too high.
Losing Your Current Insurance
As noted early in this article, a negative effect of the PPACA is that small business owners might not be able to keep providing their employees with health insurance and life insurance. Due to this, it is expected that they take Obamacare as an opportunity to stop their health care benefits, leaving the workers in confusion that make people believe that it will be the responsibility of each person to shop around for a health insurance policy. Even though you must be aware, that Obamacare is not pushing any employer to withdraw any insurance, it may be the best way for small businesses to help their employees by not providing health insurance so they can obtain the insurance via Obamacare.
Author Bio: You can find more of Dave Smiths thoughts on GeneralLiabilityInsurance.org, where weather you are an employer or employee ObamaCare affects us all.
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