One of the main causes of bankruptcy in the United States is the high cost of health care. While American citizens below the poverty line may be eligible for Medicaid, and Senior citizens eligible for Medicare, there are millions of Americans living without health care. For instance, the unemployed, or those employed who make just too much for Medicaid. In addition, there are those who do not receive health insurance from their job, those who are self- employed, and citizens- adults as well as children-with chronic illness, known by the insurance companies as a "preexisting condition," whom too often are denied insurance. Paying their own healthcare is unaffordable, and often people take their chances and do without proper healthcare.
More Americans are buying their own health insurance, but the process can be tough. There are ways to make sure you understand what you’re buying, and that you get the product that’s best for you.
You may want to start by confirming that you really do need to buy individual insurance. For many people, it’s better to avoid the individual market, since in most states insurers can reject you because of preexisting health conditions..
The main goal of Obamacare is to give more Americans access to affordable health insurance, and in addition, to reduce growth in healthcare spending in the United States.
The provisions of Obamacare include the fact that young adults may stay on the plan until age 26. This alone has helped 3.1 million Americans obtain proper healthcare, according to the White House.
Obamacare also stops insurance companies from dropping you if you become ill or if an honest mistake is made on the healthcare application.
Obamacare prevents against gender discrimination and also prevents insurance companies from hiking up their rates. Thanks to the Obama Care Act’s 80/20 rule, if insurance companies don’t spend atleast 80 percent of your payments on medical care and quality improvements rather than advertising, overhead and bonuses for executives, the companies will have to provide you a rebate. In 2012, 8.5 million Americans received half a billion dollars in refunds from their insurance companies. In Addition, if insurance companies are planning on raising their rates by 10 percent or more, the companies are required to explain, justify, and publicize the reasons. (www.Whitehouse.gov)
Obamacare requires all health insurers to cover adults and children alike, with pre- existing conditions and chronic illness. Regarding children alone, all insurance companies are now being forced to provide health coverage to children with a pre-existing condition like asthma and diabetes. In fact, more than 17.6 million children with pre-existing conditions can no longer be denied coverage thanks to Obamacare. According to Obamacare, as of 2014, no American can be discriminated against due to a pre-existing condition. (www.Whitehouse.gov)
Obamacare does away with life-time and annual limits and gives the opportunity for the rapid appeal of insurance company decisions.
Obamacare has expanded health coverage to tens of millions of American citizens, as it has subsidised health insurance costs. By putting more money into the care and health of the American people, Obamacare has saved billions of dollars in health care and in health insurance.
The Association also operates several business initiatives in support of the Blue Cross and Blue Shield companies and represents the Blue System in national forums. In this role as a national association, BCBSA is responsible for advancing Blue Cross and Blue Shield interests in legislative and regulatory initiatives in Washington, D.C., as well as coordinating legislative, regulatory and political strategy for the Blue System.
Operating and offering healthcare coverage in all 50 states, the District of Columbia and Puerto Rico, the 37 Blue Cross and Blue Shield companies cover 100 million Americans. Nationwide, more than 96% of hospitals and 92% of professional providers contract with Blue Cross and Blue Shield companies — more than any other insurer.
Blue Cross and Blue Shield companies offer a variety of insurance products to all segments of the population, including large employer groups, small business and individuals. The Blues® currently serve 85% of Fortune 100 companies and 76% of Fortune 500 companies. Moreover, the Blues have enrolled more than half of all U.S. federal workers, retirees and their families, making the Federal Employee Program the largest single health plan group in the world.