The American Health Care Act a.k.a AHCA, Trumpcare, Ryancare, and Republicare seems to be the fulfillment to the promise made by President Trump to repeal and replace the Patient Protection and Affordable Care Act(ACA). The AHCA being a budget reconciliation bill can pass the senate with a simple majority of votes. On May 4th, 2017 the United House of Representatives voted to pass the AHCA by a narrow margin of 217 to 213 votes and thereby repealing most of the features of the Affordable Care Act.
The center of debate for over the AHCA is the Health insurance coverage for people with preexisting medical conditions. One of AHCA’s provisions allows states to obtain waivers for the ACA’s requirements that insurance companies must accept people with preexisting conditions and charge them the same premiums as a healthy person of the same age.
A pre-existing condition is a medical problem that exists before you sign up for health insurance. Before the Affordable Care Act people with preexisting conditions like cancer or asthma could be denied medical insurance due to these conditions. This will lead to them having to pay much higher for their treatments. The Affordable Care Act sought to fix this “problem” and in doing so created a new problem. Under the ACA, people with preexisting medical conditions can’t be denied coverage and can only be charged as much as a healthy person.
This may seem fair and just seeing as how sick people won’t be having to pay thousands of dollars for their treatments, but doesn’t the concept seem a bit flawed? Insurance is sold on a case of possibility. There is a chance that people may get in a car crash, they may break a leg or get the flue and the insurance will pay for that. But if people with existing medical conditions applied for health insurance and only pay as much as a healthy person it stops being a matter of possibility. People could legally avoid getting insurance till they were sick and apply for it after they were diagnosed with a medical condition. Due to this insurance companies started losing money and backing out. The government predicted that more people would sign up for insurance and the new business would balance out the cost of the sicker patients but why would anyone sign up and pay money when they can just wait until they get sick and sign up then?
The problem here is that there are people with unavoidable medical conditions like type 1 diabetes, Crohn’s disease, and people with genetic disorders that are costly to treat and these people may be denied insurance because of their conditions. The AHCA however is not planning to eliminate protections for people with such conditions but to find a middle ground so that people don’t abuse the health care system but at the same time can afford treatments and live a peaceful life without the burden of huge medical bills weighing them down.
Market Data Forecast has an extensive database on the North American healthcare market with prime focus on the United States as it is the largest market in the world. We have a wide range of research reports on healthcare ranging from Diabetes Care to the Nuclear medicine market. Our experienced team of analysts are working on an impact analysis of the new healthcare bill on each individual market to find domains that will benefit and grow the most and the ones that might not be so lucky under this new regime.
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