WK2A1: Please use APA format and list and site all sources and references: Ident
ID: 122044 • Letter: W
Question
WK2A1:
Please use APA format and list and site all sources and references:
Identify, how many Americans remain uninsured despite the PPACA (Patient Protection and Affordable Care Act), using the most current scholarly resource available.
Identify how many Americans are currently signed up for and have paid premium for the PPACA.
Discuss the current cost to Americans in subsidies, which are financially supporting the PPACA. What is the current fine charged by the IRS to those without insurance and how much will it increase in 2016? Will this fine increase have a negative or positive impact? Explain why.
Please use APA format and list and site all sources and references:
At least one Page in APA format.
Explanation / Answer
For 2015, 9.1% of adults have remain uninsured for more than a year whereas for the first nine months of 2016, 7.6 % of adults reported have remained uninsured for more than a year (Mangan,2017). It has been estimated that 6.4 million Americans have enrolled of which 2.1 million are new (Luhby,2016). In an example cited by Ydstie(2013), "Johanna Humbert of Galien, Mich., was pleasantly surprised to discover that she qualifies for an insurance subsidy, since her current plan is being canceled. Humbert makes about $30,000 a year, so she'll get a subsidy of about $300 a month. The new plan is similar to her current one, but it will cost $250 — about half of what she pays now".
Health insurance subsidies would cost the federal government approximately $660 billion in 2016, according to the Congressional Budget Office which is an 11% increase (Ferris, 2016). It has been often argues that the super rich gets the subsidies and this refreshing reform will enable uninsured people get health coverage at a price they could afford. The subsidies would reduce the amount of premium significantly.
As per the HealthCare.gov website, the fee charged by the IRS to those without insurance is $695 or 2.5% of your income — whichever is higher. This fine would encourage more and more people to purchase health insurance.As it has been cited on many reputed websites and publicatiions that affordable coverage through the Health Insurance Marketplace would find plans with premiums of less than $75 dollars per month. This would augur well for the overall population as more and more people can afford to see quality treatment which otherwise becomes heavy on ones pocket.
References
1. Ferris,S.(2016). CBO: Cost of ObamaCare subsidies climbs by 11 percent. THEHILL.
2. https://www.healthcare.gov.
3. Luhby, T. (2016). Obamacare 2017 enrollment hits record, despite Trump's threat to repeal. CNN Money. Retrieved from http://money.cnn.com/2016/12/21/news/economy/obamacare-enrollment-record/
4. Mangan, D. (2017). The rate of uninsured Americans hits a record low as Obamacare's future remains a question mark. Healthcare. CNBC. Retrieved from https://www.cnbc.com
5. Ydstie, J.(2013). How The Affordable Care Act Pays For Insurance Subsidies. Retrieved from http://www.npr.org/sections/health-shots/2013/11/07/243584170/how-the-affordable-care-act-pays-for-insurance-subsidies
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