THE AFFORDABLE HEALTH CARE ACT CRYSTAL DAVIS FRANK GRAESER NABIL HAMAM MARY ANN JORDAN THOMAS KEITH...
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Transcript of THE AFFORDABLE HEALTH CARE ACT CRYSTAL DAVIS FRANK GRAESER NABIL HAMAM MARY ANN JORDAN THOMAS KEITH...
THE A
FFORDABLE
HEALT
H
CARE ACT
CRYSTA
L DAV
IS
FRANK G
RAESER
NABIL HAMAM
MARY ANN JO
RDAN
THOMAS K
EITH
THERESA S
TARUCH
COSTAFFORDABLE CARE ACT
ACA is paid for through collected taxes, penalties, spending cuts and reformations to the health care industry, estimated at a net cost of $1.36 trillion by 2023.
ACA does not sell health insurance, it creates a marketplace for Americans. To purchase regulated, subsidize private insurance.
ACA will provide around one trillion in subsidies to low and middle income Americans over the next decade to help them pay for health insurance.
HOW WILL WE PAY FOR ACA SUBSIDIES
It is designed to offset the cost of these subsidies
Half of the cost is offset by projected savings in Medicare payments to insurers with projected revenues of $416 billion dollars
Another source is a tax on the wealthiest American (families with incomes over $250,000 a year) with projected revenues of $210 billion dollars and other miscellaneous revenues which will produce $149 billion dollars
Projected provisions will make the bill a net positive for the federal budget
ACA will produce a surplus to the budget if it is successful that is projected to lower the deficit by $100 billion
THE PENALTIES PHASE
Projected revenues of $149 billion will be charged to those who choose not to have health care under ACA
The Penalty for 2014 is $95.00 per adult and $37.50 per child for low income insured with a maximum of $285.00 a year per family and 1% of income for families with income over $250,000
The fees on insurance providers and medicine producers will produce a projected revenue of $107 billion
Manufactures of medical devices will pay an excise tax of 2.3% a year
Excise tax on Cadillac health plans for $32 billion
Educational reforms for $52 billion
www.TaxFoundation.org
QUALITY
There are many well-known improvements in the quality of care associated with the reform act. The Affordable Care Act expands the affordability, quality, and availability of private and public health insurance through consumer protections, regulations, subsidies, taxes, insurance exchanges, and other reforms.
AFFORDABLE CARE ACT/ COST
There is no single solution to reducing the rate of growth in health care costs and the Affordable Care Act employs a wide range of strategies that can achieve the goal of greater value, including provisions to:
- Improve the quality of care,
- Reform our health care delivery system,
- Appropriately price services and modernize financing systems, and
- Fight waste, fraud and abuse
ELDERLYElderly people will definitely benefit from the new health care reform in three areas:
1-The Patient Safety / Abuse Prevention Act:
2-The Elder Justice Act:
3-The Nursing Home Transparency and Improvement Act:
MEDICARE/QUALITY
-Medicare is changing the way it pays hospitals for services provided to people with Medicare. Instead of only paying for the number of services a hospital provides, Medicare is also paying hospitals for providing high quality services.
-Medicare now has information about how the quality of a hospital's care affects the payments it gets from Medicare.
PREVENTIVE SERVICES
There are many significant areas of the ACA especially in preventive services:
Preventive Services for Women
Preventative Services for Adults
Preventive Services for Kids
REFERENCESAmerican Psychological Association. The Elder Justice Act (S.1070/H.R.
1783). Retrieved July 22, 2012 from: http://www.apa.org/about/gr/issues/aging/elder-justice-facts.aspx
Administration implements new health reform provision to improve care quality lower costs. (2011). Included in affordable care act.
How the Affordable Care Act pays for Insurance Subsidies. (2013). http://ww.npr.org/blogs/health
- The Patient Protection and Affordable Care Act: An Overview of Its Potential Impact onState Health Programs (2010). http://www.lao.ca.gov/reports Health insurance reform
and Medicare: making Medicare stronger for America’s seniors.
-PPACA will drive quality health care reform, (2010). Legal News: Health Care. Retrieved from http://www.foley.com/ppaca-will-drive-quality-health-care-reform-05-21-2010/
-Take health care into your own hands. (2012, July). Newsroom fact sheets. Retrieved from http://www.healthcare.gov/news/factsheets/2010/07/preventive-services-
-Obama Care Facts. N.d, Web. 2 Feb 2014. http://obamacarefacts.com/obamacare.
http://www.cms.gov/apps/docs/aca-update-