Obamacare , AKA the Affordable Care Act Research Paper - 1

Obamacare , AKA the Affordable Care Act - Research Paper Example However, this new health reform has been protested against by many as it may raise costs for pharmacies and businesses, a penalty will apply to those who do not buy coverage, and some low-wage workers would still find it unaffordable (ObamaCare Facts; Amadeo; Tozzi 2013). Basically, Obamacare has made it compulsory for all those Americans without a health insurance to get one. An important thing to note is that Obamacare does not replace Medicaid, Medicare or private insurance- it is a separate reform, although it has expanded Medicare. The law requires business companies to provide their employees with premiums, which will be less than 9.5 percent of the employees’ incomes. However, this only applies to businesses with less than fifty employees. The larger companies will receive tax credits in order to help its employees pay premiums. Obamacare also allows children to be put on their parents’ health insurance plans up to the age of twenty six. In addition, insurance companies are not allowed to deny insurance to individuals who are already suffering from a health problem. Those individuals who do not buy these premiums or health insurance will be subject to a new penalty of $95 or one percent of income, which will come in effect from 2 014-this penalty will keep increasing every year. Another part of Obamacare is the national menu labeling law, which requires restaurant chains with more than twenty branches to post calorie counts for each standard menu item (ObamaCare Facts; Amadeo; Shen 2013). Ever since President Obama introduced this health care reform, more than a hundred million Americans have already benefitted from it. According to statistics posted by the official White House site, about fifty million Americans are covered for preventive services, and approximately thirty three million Americans with Medicare use a free preventive service. This is because Obamacare has eliminated any additional cost, such as