Determining it’s Success
One of the biggest factors in determining the success or failure of the Affordable Care Act is how truthful the administration was, and is, about its effectiveness for consumers. Another factor is whether or not it will hurt or help people financially. If the launch of the program on the website is an indication of its success, then we should all be worried. It would also be good to know what the current enrollments are to date.
A “con” that has been circulating through the business world is that the Obama Administration is incorrect about people being able to keep their current insurance, if they like what they have. It has been reported that insurance companies have been sending out many letters informing customers that their insurance is being cancelled.
The ” pros” seem to lean more towards the financially challenged, and those with preexisting conditions.
Good or Bad For Small Business
Supporters of the law insist that small-business owners may just not know enough about the law to realize the good things they can get out of it. Case in point: the small-business health exchanges. They are called “Shop Exchanges,” and like the ones for individuals, they are intended to provide a place to compare health plans and buy them at competitive prices. They are also designed to give small businesses with 50 or fewer workers an important advantage, which is the ability to spread their risk of large medical expenses, since at that point they will be part of larger groups, and can use their combined purchasing power to get better rates from insurers.
Once again, only time will tell.
As people receive cancellation letters from their respective insurance companies, they are beginning to post pictures of those letters online, in the various social media sites. These actions by insurance companies is a direct result of the “implementation” of Obamacare.
Most people who have tried to sign up on the official Affordable Care Act website (Obamacare) have had nothing but trouble. The administration promises it will be fixed, but none or little progress has been shown to date.