New research from the Commonwealth Fund illustrates the impact of cutting the Affordable Care Act, which would result in a loss of 2.6 million jobs caused by a $140 billion decrease in federal healthcare funding. Mostly in health and private sectors, the number of jobs lost would jump to nearly 3 million by 2021.

Obamacare’s Major Provisions

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The Affordable Care Act (ACA) is a measure passed under President Obama, which provides subsidies for insurance premiums and expands Medicaid eligibilities. The ACA supports low-to-moderate income families with premium tax credits on qualified health plans, which are paid to insurance companies. Why not also check out this best insurance company or forsikringsselskap best i test for more info!

The individuals assisted makeup 100 to 400 percent of national poverty. The system awards the largest tax credits to the lowest-income individuals.

The ACA also expands Medicaid to non-elderly adults who bring in incomes that fall 138 percent below the federal poverty level. Only 31 states have expanded Medicaid, with the federal government covering the majority of costs to insure eligible individuals.

While Obamacare has been referred to as a “job killer,” research illustrates that the ACA has actually stimulated job growth. Studies show that federal healthcare funding creates a revenue ripple effect that provides indirect and induced rewards, such as the ability to purchase additional medical equipment or allow individuals to support a family and contribute to the economy.

Economic Implications of Repealing Obamacare

A team of researchers collaborating with the Commonwealth Fund analyzed data to determine the effects of the repeal, predicting increased costs across the board in 2019. The research is based on the failure to supplement the repeal with a replacement plan.

Additional research support came from the Geiger Gibson RCHN Community Health Foundation Research Collaborative, and the Milken Institute School of Public Health, George Washington University.

The research shows that hospitals and physicians would see a $1.1 trillion increase in uncompensated costs between 2019 to 2028, due to millions of uninsured who are now unable to pay their medical bills. Though the cuts would lead to a loss of revenue for the industry, each state could see economic implications as well.

“When federal funds are cut, the results play out in the other direction, triggering losses in employment, economic activity, and state and local revenues,” according to the Commonwealth Fund’s research.

National Industry Distress

Researchers measured how the repeal could affect employment and economic activity on a state-by-state basis. The team used a multistate economic forecasting model “to quantify for each state the effects of the federal spending cuts.”

The majority of unemployed will be in the private sector and in health care, but other industries will be impacted too. Researchers predict serious distress caused by:

• Unemployment from jobs lost in healthcare, construction, real estate, retail, finance and insurance
• Losses in economic and business outputs
• Decrease in state and local tax revenues

$140 billion in funding cuts. 2.6 million jobs lost statewide.

In short, repealing the ACA could create serious economic and employment deficits, affecting states, the private sector and the health care system.

“Because they serve so many uninsured and Medicaid patients, safety-net facilities such as hospitals and community health centers could be especially hard hit,” according to the Commonwealth Fund. “In the end, states could be forced to choose between cutting vital services and raising tax rates.”

The provisions of the ACA largely benefit low- and middle-income individuals who require the additional funds to afford food, shelter and other basic needs. According to the research, only the wealthy will save money when Obamacare is repealed.

“Moreover, such spending creates greater economic stimulus than tax deductions that disproportionately benefit wealthier individuals, who are likely to shift more money into savings, which is less stimulative.”

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Republicans and Democrats each want to achieve the same goal

Unless you’re a politician or a lawyer, it’s pretty hard to read all of the jargon and make any real sense of it. In an effort to try and catch you up to speed, and without going into the vast amounts of bullet points each one contains, here is the core difference between the two plans.

A shared goal

First, you’ve got to understand that the healthcare debate is such a hot one because both sides of the aisle have fundamentally different ways of pursuing efficiency. Both Republicans and Democrats want the same thing, which is to tackle the problems within healthcare and arrive at a solution that balances quality of care with fair pricing, but each has a different opinion of how to get there.

With different strategies

Conservatives believe that a competitive market is the way to go. They would use taxpayer money to create a system where American consumers would benefit within a marketplace where insurers would offer very different options. Healthcare coverage and pricing would then be driven by consumer’s choices. Republicans also feel that the federal government’s role in healthcare should be much smaller than it is now. They believe individual states should be responsible for making individual plans easier to get.

Liberals believe the answer lies not in the competitive marketplace but in a centralized design where purchasing decisions are in the hands of the government. Individuals purchase coverage from state and federal insurance exchanges instead of traditional private market providers, and the affordability of plans comes from subsidies.

There. You are now educated on the main difference between the competing plans.

The bottom line is, both the Republicans and Democrats have some good ideas and not so good ideas in each of their healthcare bills. Ideally, for the American people to truly be served and offered affordable healthcare coverage, ideas from both sides of the aisle would be combined into one cohesive plan that would make the most sense.

Will this ever happen? Time will tell.

The post What are the Fundamental Differences Between the GOP’s Healthcare Plan and Obamacare? appeared first on Citizens Report.

Ken and Melissa Davert along with their 15-year-old twins Austin and Michaela all suffer from disabilities.  The twins and their mother have a disease which makes their bones extremely fragile called osteogensis imperfecta while Ken has cerebral palsy.

The family says that they’ll be paying nearly $8,000 more per year for medical care after being denied coverage through Obamcare, The Bay City Times reported.  The parents receive their income from Social Security disability payments and also have health insurance through Medicare.

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