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Essay / Positive Effects of Obamacare - 639
The Patient Protection and Affordable Care Act of 2010 was established to provide Americans with a reasonably priced and cost-effective healthcare system by designing a system of insurance that sets up low costs and expands coverage. Also known as Obamacare, this new healthcare system could actively impact the economy we live in today in many different ways, both positive and negative. On a positive note, the Affordable Care Act can affect our nation in beneficial and practical ways. The ACA will help increase the number of U.S. citizens with health insurance. In an article by Washington Post reporter Ezra Klein, she discusses the positive effects of the Affordable Care Act on our country's economy. As mentioned in the article, Obamacare will have a definite effect in reducing the number of people without health care in the United States. The Congressional Budget Office (CBO) suggests and estimates that by 2022 there will be thirty-three million additional Americans receiving health care who, without the implementation of the Affordable Care Act, would be deprived health insurance (Klein, “11 Facts about the Affordable Care Act”). Additionally, the Affordable Care Act will also help save Americans a large sum of money cumulatively, with the benefit of reducing health care costs. In his economic research on the ACA, Jason Furman concluded a few points that could have a positive impact on the workforce and the economy as a whole. He concludes that with health care costs falling, employers will benefit from excess money due to lower health care costs. With this plethora of money, these employers can use their capital for the purpose of employing one or two additional employees if necessary, or to pay their money...... middle of paper ...... among Doctors May Not Know About Obamacare – and What They Need to Know. It was shown in one study that in some doctors' offices their annual salaries could decrease by as much as seventy-five percent of what they previously earned; a substantial reduction in their salary. Although passage of the law will result in more patients, the costs will be much lower and will result in lost revenue. In addition to private practices, the Patient Protection and Affordable Care Act will affect hospitals across the country. The nation's hospitals agreed with the government after the passage of the ACA to accept $155 billion in cuts over the next ten years (Naether, “What Doctors May Not Know About Obamacare – And What They Need to Know). The reason for all this is that for Obamacare to succeed, doctors need to earn less..