Obamacare may Change

The Affordable Care Act (ACA) or Obamacare, as it is popularly known, was brought in to end inequalities present in the US healthcare system. This was proved to be wrong. The silver lining, however, was that the troubles associated with this law could pave the way to the development of a better healthcare system. All such developments now depend on the election results.

Democratic Party approval

President Obama, Hillary Clinton, the presidential nominee from the Democratic Party and almost one-third of Senate have given their approval to a new health plan sponsored by the government. The new public option will give consumers one extra choice. Many Democrats are in favor of single payer arrangement-something in the lines of Medicare given to all Americans. In short, Democrats prefer more government participation.

Republicans, on the other hand, prefers less government participation. They want reduced federal regulation. In their view, such a condition will result in less expensive and vanilla options insurance policies in larger numbers. Trump himself has expressed his preference for more use of health savings accounts. It will permit the purchase of insurance policies across different states. Such policies will permit individuals to take tax deductions for the insurance premium payments.

New organization a must

It is no wonder that the ACA must evolve to something else to survive. Both Democrat and Republican Party members agree that the individual insurance market at present is too inaccessible and expensive. According to Janet S. Trautwein of National Association of Health Underwriters, although employer markets continue to remain stable, individual insurance markets are not. President Obama himself has acknowledged the need to reform healthcare system. He wrote in a medical journal that too many Americans struggle to pay for prescriptions and physician visits. They do not have sufficient money to cover monthly insurance bills or deductibles. Money also comes short when it comes to navigate bewildering and complex system. This is the reason many people are left uninsured.

The marketplace will face an important test in the fourth yearly open enrollment season. This begins on November 1, seven days prior to Election Day. Consumers in a number of counties will witness steeper premiums and much fewer insurers. This is because a number of insurers like UnitedHealth, Aetna and Humana have reduced their exchange footprints. A number of nonprofit insurance companies, made with money from the Federal Reserve, have shut shop. Democrats now want the option of public insurance- an old demand.

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