I have struggled to understand the objections to the affordable healthcare act in the US otherwise known as Obamacare.
I have a friend who is a tax expert and happens to be a US citizen. After one of my inquiries she responded:
In my view the biggest problem with the Affordable Care Act involved the surcharges that were built into it to absorb some of the high cost of insuring the medically needy among the uninsured.
The 6% medical device tax on gross sales and the 40% Cadillac tax on the insurance companies for the best coverage policies were never phased in. After they passed the bill Obama’s executive orders delayed implementation of these revenue generating portions of the bill – no wonder it started failing so catastrophically.
An article in the Post Star about a week ago had a quote from a local hospital administrator to the effect that, since the ACA, the hospitals have been writing off three times more debt than previously because people with coverage could not afford to pay their deductibles.
My deductible for the one year I had ACA coverage was $5000, and since I bought the cheapest plan- after I paid the deductible my co-pay was 50%. And I was paying over $300 a month in premiums. I’m on Medicare now and paying $380 a month ( Medicare deduction plus supplemental plan thru previous employer retiree program) but the coverage is much better and includes dental and vision now. I guess I’ve gone on long enough on this topic – it’s hot topic for me ever since I read the 100 synopsis of the tax impacts of the ACA after it was first passed. I could go on some more about the situation as I see it from the hundreds of taxpayers I have seen since this first went into effect- but I’ll stop here.