By: Jessica Miraglia
The ACA will allow moderate to low-income families and individuals who select an insurance coverage plan from the heath insurance marketplace to gain from both premium tax credits and cost sharing. By doing this, the ACA is going to make it simple for families and individuals to gain access to health care coverage that they otherwise would not have been able to afford. More specifically, those who are of a minority race or ethnic group will benefit from the ACA because they are more likely to fall under the federal poverty levels and/or have lower paying jobs that do not offer them employer paid health insurance. Allowing more Americans to gain access to health care coverage will raise the need for goods and services within the healthcare field and in turn will create more jobs in the community. Creating more jobs will thus lower unemployment rates throughout America. The ACA is also slowing down the rate increase of health care costs. By slowing down the rate increase of health care costs the ACA is giving employers who pay health care premiums for their employees the ability to hire more employees and/or employ more full time positions that offer health care benefits. This again is creating more job opportunities in America and can also help lower the unemployment rates.
Also, by gaining access to health care coverage these individuals and families will now be able to address their medical needs, which is a very important asset. By addressing the medical needs of Americans there will be a reduction in loss of life and an improvement in mental and physical health. The improvement in mental and physical health among individuals will cause people to live longer and be more healthy which will reduce the chance of them becoming disabled. Many families and individuals will no longer have to live in fear of catching the common cold or even worse being diagnosed with a life altering disease.
Jason Furman, Six Economic Benefits of the Affordable Care Act, Council of Economic Advisers (February 6, 2014), available at http://www.whitehouse.gov/blog/2014/02/06/six-economic-benefits-affordable-care-act
Kaiser Commission on Key Facts, Health Coverage by Race and Ethnicity: The Potential Impact of the Affordable Care Act, The Henry J. Kaiser Family Foundation (March 13, 2013), available at