US Public anxious on GOP Tax Bill and its Health Care Implications

Anyone associated with the health care system in the United States, be it hospitals, doctors, or even patients, have expressed apprehension about the GOP tax bill. The legislation will eliminate from 2019 the Obamacare or Affordable Care Act (ACA) on consumers who does not enjoy health coverage. Medical professionals have warned that it has negative implications for millions of US citizens. Insurance markets will be weakened in many parts of the US.

Frightening future

A number of healthcare groups all over the United States, including patient advocacy organizations and important physician associations, have requested Republican lawmakers to decelerate and preserve insurance requirements. Experts are of the opinion that the bill will result in a number of patients being not able to afford to take care of hospital and allied bills. Higher premiums will be slapped upon those who will continue along the existing plans. Congressional leaders were sent a communique by American Academy of Actuaries. Stating that if this mandate gets eliminated, there would be a rise in the premiums. This will, in turn, reduce the affordability. Protections concerning the pre-existing conditions will also get eroded.

The tax bill may slash millions of dollars from the Medicare program as per the federal budget rules, and at the same time reward large corporations with substantial tax cuts. It will also result in starting a federal deficit amounting to $1.5 trillion over the next 10 years. Such a deficit will strain existing government health care schemes like Medicaid and Medicare. No wonder, John Baackes of LA Care, an insurance plan covering about two million Los-Angeles County residents which are economically weak,  described the scheme as a 'horrid' one.

Beneficiaries

This tax bill is good only for the corporate sector. It will reduce the tax rate of companies from the present 35 percent to 21 percent. The scheme will benefit pharmaceutical companies and for profit hospital systems. Insurance companies trying to make substantial amounts of money will be favored by this bill.

The most vulnerable consumers are those who live in parts of the US where there are fewer insurers selling their plans. Premiums are generally high in those areas. The GOP leaders have dismissed such fears. They have argued that elimination of penalty on individuals who do not have access to health insurance will remove the unfair government requirements. GOP representatives say that Obamacare has violated liberty and individual freedom.

Leave a Comment