Obamacare was supposed to be an aid for the people in the United States, but it seems to have made the situation worse. Obamacare forces people to have health insurance. If they don’t have health insurance, then they are penalized via a fine on their taxes.
While having health insurance may seem like something most people would want, the changes to healthcare that Obamacare made have made “affordable healthcare” nonexistent. With the implementation of Obamacare, the cost of healthcare premiums skyrocketed. Families are finding it hard to afford their premiums, and many companies have downgraded their healthcare coverage because they, too, couldn’t afford it.
Although healthcare costs have risen over the years, the cost of healthcare has never jumped so drastically since the implementation of Obamacare. In 1970, healthcare spending in the US was $75 billion; in 2010, it was $2.6 trillion; and in 2021, it’s projected to reach $4.8 trillion.
With Obamacare, healthcare costs for the average US family increased by 7.2 percent between 2011 and 2012. And that number is only going to keep growing.
Because healthcare technology continues to evolve, moderate increases in prices are expected, but jumping almost 8 percent in one year is excessive, and the continued advances in technology will only fuel higher costs. Lower-cost options are now becoming extinct, and insurance companies are being forced to dish out more money for advanced services, leaving individuals stuck paying the copay or balance after insurance has paid their portion.
The cost of healthcare service has also risen dramatically. Many hospitals and healthcare providers have increased the cost of their services in order to make ends meet or receive a profit. Plus, since many doctors and hospitals are now adding the healthcare technology solutions to their offices and/or facilities, the cost of service needs to raise in order to cover these costs.
Obamacare does have some benefits. It allows individuals with pre-existing conditions to still receive insurance coverage, and it has provided a broader benefit package. But these benefits also come with disadvantages. Because insurance companies have to cover pre-existing conditions, they have increased their premiums, making healthcare coverage less affordable. There is also a new health insurance tax that has also resulted in increased premiums. The higher the premiums, the higher the healthcare costs become.
Even out of pocket expenses are becoming too much for people to handle. Many companies have downgraded their insurance in order to afford premiums for their employees, and many employees are now stuck paying as much as 30-40% of their healthcare costs in out of pocket expenses. Since healthcare is becoming so unaffordable, many people may be forced to try their hand at natural home remedies for colds and other illnesses instead of shelling out a small fortune to see a doctor or get a prescription.
Although individuals and families may not be able to change the cost of healthcare premiums and out of pocket expenses, there are a few solutions to decrease the cost of healthcare. CristiaMedicalSupply shares eight great tips on reducing healthcare costs, which can be some assistance until there is another major change to the way healthcare is provided and managed throughout the US.