Week 5 Journal Reflection

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DateWeek 5 Journal Reflection
I believe that Patient Protection and Affordable Care Act (PPACA) is valid by looking at the success or advantage brought by the law. For example, over twenty million individuals have been able to secure health insurances, as one of the Obamacare’s primary goal, and indeed it has succeeded. The most substantial coverage rate gains have been revealed in communities that previously used to face barriers to accessing health care. For example, a population with low wage workers, the immigrants, individuals with a color difference or those with pre-existing medical conditions are now receiving quality health services using insurance covers. When the law went into a full effect, the minority group witnessed incredible gains in coverage (Pickett et al. 123). The groups include Hispanics, Native Americans, Black Americans and a bit of Asian population, thanks to Affordable Care Acts all have medical insurances.
Another effectiveness of Obamacare Act is portrayed via the success of many Americans who have turned to be more financially secure. Health insurance not only does it avail access to health care but also act as a financial product targeting to protect citizens from disasters like catastrophic medical bills. Usually, it would be enormous pressure for individuals experiencing a low level of income to manage medical expenses and other individual interests. The Act has enabled American people to become less vulnerable to financial shocks related to health issues.

The findings have information that only a few citizens struggle with hospital bills or avoid medical treatment due to cost and this reveals effectiveness of the implemented healthcare law. Additionally, the Act has made other products get included in healthcare systems, for instance, recently, health plans are covering services like maternity care and drug addiction treatments. The increased access to health counseling, for example, has helped many individuals dealing with mental problems and some overcoming health challenges like substance abuse.
On the other hand, I believe the effectiveness of Affordable Care Act will negatively affect the economy of the country in some of the following ways. One, the deficit will increase at some point rather than be getting reduced. In my opinion, PPACA law is enhancing uniform medical care through services like enforced insurance covers, as a current government spending project. The goal is to eradicate inabilities to access health services, but if the country continues spending much, its economy will get exposed to risks of sovereign debts. Such crisis will yield economic crippling, increased in taxes. Also, it could lead to a sudden cut of another government spending which will have long-lasting unbearable consequences. Though programs like Medicare or Medicaid are put to slow the rate of excess care cost, PPACA is creating a new entitlement of middle class to purchase subsidized health insurances (Pickett et al. 120). Buying privately subsidized insurance is almost a double, the size of programs like Medicaid, and hence it is not a better way to bend health care spending curve.
Another adverse effect on the US economy will be reduced employment opportunities by increasing insurance cost. Despite the efforts developed to model health insurance systems, I think there are and will be tremendous uncertainty about the response of employers and employee to legislation. PPACA will cause the rise of changes like reduced employment-based medical insurances, emanating from agencies’ modeling opportunities or incentives faced by workers and employers under the act. Also, I see the likeliness of increased insurance premiums for employers being caused by this health act. Firms that do not offer covers will get penalized hence over time; the law will undermine coverage based on job givers leaving individuals in insurance market controlled by the government. Thus, the economic will become imbalanced due to monopolistic control by the state.
Work Cited
Pickett, Stephen, et al. “Gain in Insurance Coverage and Residual Uninsurance under the Affordable Care Act: Texas, 2013–2016.” American Journal of Public Health, vol. 107, no. 1, Jan. 2017, pp. 120-126. EBSCOhost, doi:10.2105/AJPH.2016.303510.