Applying the Principle of Ethics to Business. The Affordable Care Act of 2010

The Affordable Care Act of 2010 also bears the name Obamacare. At first, it received sponsorship from the Representative Charles Rangel of New Jersey. President Barack Obama later signed it into a public law on March 23, 2010, which then came into effect on January 1, 2014. Since then, Americans enjoy access to health care at a reasonable cost or without any fee. The beneficiaries of this Act do not require meeting any specific income requirement. Although there has been some special interest group that fought Obamacare, the bill includes several provisions that are beneficial for the Americans, exerts positive effects on the consumers and the business sector as traced in essays lab

Provisions of the Affordable Care Act

Obamacare consists of various provisions that assist people in recognition of its advantages. These provisions incorporate restricting denial of coverage based on the one's past medical condition, expansion of Medicaid eligibility, subsidization of the insurance premiums, offering incentives for businesses to enable them to enjoy health care benefits, the establishment of health insurance exchange and lastly supporting the medical research.

The bill will allow millions of Americans to access medical services and permit seniors to easily pay for their prescriptions while children can remain the part of their parents’ health plan till they reach the age of 26. In the preventive care provision, more attracting characteristics of this Act are revealed. Chronic diseases such as cancer, diabetes and heart ailment, which are mostly responsible for many deaths annually, will be treated before they enter the critical stages. Therefore, immunization against illnesses and screening will be at a low cost or even free. Caregivers will mostly be involved in less treating and much preventing. Healthcare providing team will bridge the medical professional to another one creating thus leading to improved quality of care as well as greater patient satisfaction.

Conditions for the Affordable Act

Various conditions enhanced the passage of this bill. They include the Clinton’s Health Security Law of 1993, which became the center of intense public debates on the ways of amending the American health care system. Both Democratic and Republican Parties suggested the reform plan, which most of the states in the US aimed to implement. The local healthcare reform effort is another factor.

Out of more than one hundred proposals, none of the latter was introduced by the Congress between 1991 and 1994. The key stakeholders of the American health care system could not agree on what was to be done in the health programs; moreover, there were many limitations to the success of the state. As a result of these conditions, the bill was successfully passed. The listed five conditions enabled the passage of the Act.

Area of Business Affected by the Affordable Care Act

The Affordable Care Act mostly affects healthcare and small business areas. It insists on the inclusion of free services as well as screening in any new healthcare plans, as required by the preventive services task force. The free services encompass control of diabetes of those with high blood pressure even if these people have no other symptoms, counseling services for teenagers and young adults who are sexually active as well as supplementing folic acid for expectant mothers. On the other hand, in the small business that offers insurance for their workers, the latter benefit from that, as they receive a tax credit. Therefore, these effects are advantageous to the concerned groups.

Effects of the Affordable Care Act on Consumers

The consumers of the Affordable Care Act of 2010 are the persons who live in America, and they are differently influenced by the provisions of the bill. The effects include individual coverage where everyone will be able to access and purchase insurance policy directly from the insurance firms without involving agents or brokers. The preexisting conditions ensured by health insurance company does not charge more or deny someone coverage only because of the past health status.

The open enrollment presupposes that one will have to apply for a medical insurance plan during a given period, called the enrollment period, once in a year. Only those with an important life event can be able to buy it when the open enrollment period is over. The major life events incorporate marriage, birth and divorce. The preventive services embrace immunization and screenings. If an individual is insured, he/she is subject to free preventive services depending on age and gender. One also gets free annual checkup and cancer screening.

The availability of the tax penalty contributes to better health outcomes. If a person decides not to have coverage or the coverage does not meet federal coverage standards, a tax penalty is imposed on such an individual. In addition, subsidies may be granted to bear coverage costs. The Act also affects children who are the part of the parents plan. The young ones may use the coverage of their parents until the age of 26 even though they may be married. Nevertheless, this law excludes another spouse and those who depend upon the beneficiary of the health insurance.

The absence of dollar limits is another merit of this Act. Thus, there is no limit on the amount of dollars used by insurance to pay for one’s healthcare. The insurance has some restrictions depending on age, gender and the number of times it reimburses an individual per year. Lastly, there is the advantage with regard to certain prescriptions. Hence, the primary executives of Medicare enjoy some prescription of drugs at a discount due to their work. In general, these effects help in determining whether the bill has more benefits than costs.

Success of the Affordable Care Act

In my opinion, the Affordable Care Act has been successful. It owes its success to the values, which the bill provides to the people. After its passage, more than twenty million Americans acquired health insurance. Most of those who have obtained health insurance were not able to afford insurance before the adoption of the law or else they would have been shut out due to the preexisting health conditions. Additionally, Americans have become more financially secure, as they are not be obliged to spend the money on medical treatment, which is necessary in case of a disease.

Furthermore, this same law has led to a reduction of inequality by bridging the gap between the wealthy and the have-nots. They all get the same health services regardless of one’s financial status. In addition, the efficiency of is predetermined by the fact that health insurance is more comprehensive, since it has enhanced the access of patients to medical services, namely mental health counseling, contraception and cancer screenings.

Finally, this Act has decreased the deficit since it resulted in the adoption of new spending and taxes strategies to the federal Medicare program. As a consequence, the bill can be considered an efficient one.

In summary, the introduction of the Affordable Care Act has proved to be of great importance to the Americans as it can be seen from the effects of the bill on the consumers and the business areas, which has led to its success. The law made it possible for every US citizen to access quality health care and make it affordable. The Act provides for combating discrimination by the health condition of an individual. The law owes its success to the benefits that the Americans enjoy as a result of its passage. Therefore, one may confidently assert that the Affordable Care Act will remain active in the US until the superior alternative is developed.