Can We Afford the Affordable Care Act?

Many people are asking, "Has the Affordable Care Act (ACA) helped or hurt Americans looking for health care coverage?" Both proponents and opponents of the law are weighing in with opinions, stories, and predictions about its long-term effects.

Will it affect my Medicare coverage? According to the Kaiser Foundation, a non-profit health policy research agency, some budget-cutting measures in the ACA will extend Medicare’s solvency by 12 years. This will be done primarily by allowing the government to negotiate lower payments to hospitals and doctors. Critics argue that paying less for care will only make medicine a less-attractive profession for bright young students.

Why did the price of my current policy go up? Mandates in the ACA are pushing insurance companies to raise prices, since policies must now cover a number of procedures that individuals may not want.

Where will it all end?  No one knows, but pundits at the Kaiser Foundation are urging people to refrain from "judgment by anecdote." Instead they urge both the public and policymakers to wait for data about the impact of the law on coverage, access, and overall health-care spending after the first year of implementation.

For more information about affordable health care in Colorado, please contact us at Pilkington Financial Services.