How Does the Affordable Care Act Change Healthcare?

Tue, Sep 8, 2015

General Legal Issues

6793819699_23933ea007_bThe Affordable Care Act created many changes in the healthcare field. It affected families, employers, and medical providers in addition to single individuals and even regular businesses. It’s a sweeping change that affected America as a whole.

Families

Families (anyone covered by health insurance, really) might be finding that their health care coverage is more expensive than before. They may need to find new coverage with a completely new company or have their current coverage modified. This means new providers, new co-pays, new pharmacy benefits, and more. The change in price is perhaps the biggest problem for many families. This price impact wasn’t immediate either, as the insurance companies didn’t know how to predict what price the coverage would cost for them…so prices increased even more for the second enrollment period. Covered benefits also may have changed drastically, so some people could be surprised by a large co-pay or uncovered medical expenses.

Employers

Price was a large problem for employers, too. The price of covering their employees may have changed drastically. The Affordable Care Act came with new requirements for who must be covered, causing financial hardships for many employers who found creative ways to solve them that weren’t always beneficial to employees, i.e., firing employees, reducing hours, changing full-time employees to part-time employees, or changing full-time employees to subcontractors or independent contractors, and more. Some employers that had voluntarily offered group coverage before ACA decided that they wouldn’t do that anymore if they still didn’t have to. Overall, employers were greatly impacted by the Affordable Care Act.

Medical Providers

Medical Providers were greatly impacted by the Affordable Care Act as well. The new laws greatly change how providers are reimbursed, the timeline for reimbursement, the amount of reimbursement and more. In addition, some plans are no longer offered that  medical providers relied on and sometimes the providers felt forced to change the plans they accepted. In addition, changes in what the law covered and didn’t cover have been huge. Overall, many medical providers are making less than they were before because they have had staff changes, patient changes, and are no longer able to charge the same as before. Also, they are facing numerous complaints about things they have no control over.

The Affordable Care Act has also changed businesses such as insurance agencies, medical supply stores, home healthcare agencies, nursing homes, and more. It’s been a large change that hasn’t affected everyone positively.

Attorney Christopher D. Smith, Sr. is designated a Board Certified Consumer Bankruptcy Lawyer by the American Board of Certification.  SmithLaw is located in Lakewood Ranch, Florida.  Attorney Smith concentrates on bankruptcy, civil litigation, probate, estate planning, and elder exploitation cases in the Sarasota and Bradenton area.  Call 941-202-2222 to learn more.  SmithLaw offers free consultations in certain areas, including consumer bankruptcy, probate, and personal injury matters.

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