Insurance. Every working person contributes 7.65% of their paycheck (up to the 1

Question

Insurance. Every working person contributes 7.65% of their paycheck (up to the 1st $118,500) and their employer matches the same. A self-employed person will contribute 15.3% of their pay up to $118,500. Under the Affordable Health Care Act, more commonly known as Obama Care, passed in 2009 and became law in 2010, everybody must have health insurance either privately, through their employer or through a federal or state run health exchange. If you do not have insurance, you will pay a fine. What are your general opinions of Social Security and the Affordable Care Act?

Explanation / Answer

Enactment of the ACA brings extraordinary opportunities for greater security, affordability, adequacy, and equity in health insurance coverage. However, it also faces very substantial hurdles in both political and practical realms. These include the challenges of implementing substantial changes to the Medicaid program, significant reforms of private health insurance market regulations, development of new systems for delivering subsidies and enrolling individuals in coverage, creating greater transparency, and promoting efficiency in the delivery of health care. States will play a vital role in the implementation of these reforms and in the design of specific aspects of the changes.

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