This article examines the Affordable Care Act's failures to deliver on its promise of affordable healthcare. It highlights the rising healthcare costs, continued lack of coverage for millions, and the unintended consequences of government intervention.
When the Obama Administration first suggested the Affordable Care Act following the Financial Crisis, we argued that the outcome would be substantially higher, not lower, healthcare costs . It is interesting today that economists and the media complain about surging healthcare costs with each inflation report but fail to identify the root cause of that escalation.
The chart below tells you almost everything you need to know, but in this blog, we will revisit why the Affordable Care Act failed to make healthcare affordable and some solutions to fix the problem. When it was conceived, the Affordable Care Act (ACA) was hoped to improve healthcare access. At the time, roughly 20 million Americans were uninsured. The bill hoped to lower the rising cost of healthcare in the economy by providing a Government mandate.steps in, the outcomes are generally worse, not better. Such should not be surprising. At a press conference on August 12th, 1986, US President Ronald Reagan said, “The nine most terrifying words in the English language are ‘I’m from the government and I’m here to help.’” A decade after the launch of the Affordable Care Act, we can not look back at the results. In 2023, roughly 25 million Americans still lack healthcare coverage. The government continues expanding programs, like Medicaid, to insure more individuals at a hefty cost to taxpayers. While the uninsured population has fallen by 3 million since 2014, the question is whether the costs justify the results. Unsurprisingly, as we discussed initially, the Affordable Care Act led to a hefty increase in healthcare costs. Although its goals were noble, several key provisions—including pre-existing conditions, reduced consumer choice, and government subsidies—strained the system financially. These problems, compounded with other structural challenges, are further exacerbated by the COVID-19 pandemic, leaving insurers, taxpayers, and patients grappling with rising premiums and expense
Affordable Care Act Healthcare Costs Insurance Government Mandates COVID-19
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