ObamaCare Repealed

What will the impact be on the American people?

On the 4^th of May 2017, the Republican healthcare Bill was narrowly passed with 217-213 vote in the lower chamber of Congress. The Bill has now been passed on to the Senate where it would be enacted as the new law replacing the existing ObamaCare Act.

Background

Since its inception, the Republicans critiqued ObamaCare as a flawed and disadvantageous health care law. President Trump attempted to replace the existing law but failed to pass the American Health Care Act (AHCA). This set back highlighted the divide within the Republicans. This results in Trump hosting oval-table conference in the White house to analyse and amend the Bill. The amendment to the Act included certain provisions that the conservatives hoped for in turn gaining their support.

The amended Bill symbolises the unity amongst the Republicans today. Supporters of the Bill will have a positive impact on the US economy and it would solve all the grievances that arose with the Obamacare such as increased premiums.

ObamaCare Vs. Republican’s Bill

The new Bill repeals the policy of ObamaCare making it mandatory for individuals to have health insurance if they can afford it. Tax in the absence medical insurance will cease to be charged as per the new Bill. However the new Bill maintained the earlier provision that allowed parent’s policies to cover for children up to the age of 26.  Companies no longer have to mandatorily provide insurance even if they have more than 50 staff members. The Bill reverses Obamacare’s rich to poor wealth distribution but introducing tax cuts which mainly benefits the wealthy.  It further allows insurance companies to charge older customers higher rates. Individual states can now opt out of benefits such as emergency care and cancer treatment. The states can further waive the guarantee to provide healthcare to people with pre-existing conditions. The Bill introduces the option of states turning the money into a “block grant,” a lump sum rather than a per-person payment for each Medicaid patient. This further cut down on the Medicaid programme.

Assessment

When the new Bill becomes the law thousands of American’s would no longer be able to afford medical treatments in the US. It would result in 24 million more Americans losing insurance. Professionals from medical community have raised their concerns over the Bill and have stated that the risk and effects of the Bill are yet to be assessed. Democrats have also criticised the Bill and claimed that the Bill would not benefit US but would only make things difficult for the poor and the middle class. It would only benefit the wealthy and this would not have a positive outcome in the future. The acceptance of the Bill has raised positive hopes for Trump’s Tax reform. It could also act as a boost to the Trump’s legislative actions in the future.