The Necessity Of The Affordable Healthcare Law

2613 words - 10 pages

In America the affordability and equality of access to healthcare is a crucial topic of debate when it comes to one's understanding of healthcare reform. The ability for a sick individual to attain proper treatment for their ailments has reached the upper echelons of government. Public outcry for a change in the handling of health insurance laws has aided in the establishment of the Affordable Healthcare Law (AHCL) to ensure the people of America will be able to get the medical attention they deserve as well as making that attention more affordable, as the name states. Since its creation, the AHCL has undergone scrutiny towards its effects on the government and its people; nevertheless, the new law must not be dismantled due to its function as a cornerstone of equal-opportunity healthcare, and if such a removal is allowed, there will be possibly detrimental effects on taxes, the economy, and poor people.
Taxes in relation to the new healthcare reform is a prominent topic when one examines the supporting and opposing sides of the law. New taxes on businesses producing medical equipment and new Medicare taxes on investments have been established. For individuals and businesses choosing not to participate in purchasing health insurance there will be a penalty called a "shared responsibility" tax. The accrued money from these taxes is being used, among other things, to provide low-cost insurance plans on the marketplace and to create subsidies for those purchasing the plans. Through these subsidies, "any individual making up to $45,960 or a family of four with household income up to $94,200 is eligible" ("Obamacare tax guide") to qualify and get assistance at the end of each year to off-set the cost of the insurance even more than it already is from current public health insurance options. The subsidy incentives will be available to forty-one percent of the population, based on current individual income levels.
Although a large proportion of the population will likely gain from the AHCL, opposition to the new law contends that the new 2.3 percent tax placed on medical device companies will potentially take away a large portion of their profits. The medical device tax is applied to medical companies' total product sales. After costs for research and production are removed, profit that would have been made is decreased significantly ("Obamacare Tax On"). The opposition argues the loss of such a grand amount of income could cause an avoidance of medical technology innovation. This lack of technological advancement would have a profound impact on the medical field by stifling the availability and future value of its medical equipment. Also, businesses could end up not being able to afford healthcare plans for their employees, causing them to pay their "shared responsibility" tax at a price of "$2000 per full-time employee" ("What is the Employer"). The extra strain on losing valuable profit combined with increased taxes might cause some...

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