We are now a little over a year into mandatory health insurance and it is anything but affordable. I am paying more now for less benefits because my company already offered free preventative care. I have seen decreases in coverage for things such as emergency care (the only health care I would really need) as well as hospitalization. Sure, I can go get a free physical. What good does that do me if I fall and break a leg or arm? Zero!!
This law needs to be repealed immediately. Health insurance should be an option for individuals rather than a requirement. Any company I have worked for that has offered insurance has covered preventative care and pre-existing conditions. I realize this may not have been the case for those self-employed or working in places without benefits, however, it is the responsibility of the consumer to ask about having those things covered if they desire. I'm sure any insurance company would do so for an extra premium because they are in the business to make money.
On the flip side, there are the tax ramifications of this law. People without affordable coverage through work were able to go to the Marketplace to purchase insurance. The Marketplace would determine a premium and use the person's income and family size to determine how much the person would pay and how much would be issued on their behalf as a premium tax credit. This has to be reconciled during the tax return and could end in one of three different ways:
1. The person gets a bigger refund because their income was over estimated making them overpay for insurance with out of pocket money. This doesn't sound so bad until you look at the opposite scenario.
2. The person's income was underestimated for the year creating a situation where too much was paid on their behalf. This amount is immediately added onto the person's tax bill reducing a refund or increasing a balance due. This is the ugly side of things because people find jobs or get raises during the calendar year.
3. There is also the possibility of breaking even, but, it is very hard to be spot on with an income estimate unless you are drawing fixed pensions and Social Security.
It is time for this law to go away. The votes are in the Congress to make this happen, but we know it will face a veto and the votes are not there to override the veto. It is up to us in 2016 to correct the single biggest mistake ever brought to the American people. Question your candidates for US Representative, US Senator, and the Presidency very closely. Pen them down on their views about the Affordable Care Act. Elect those who pledge to repeal it for the betterment of all citizens.