Health Insurance Articles

How The 2012 Election Could Affect Health Insurance Rates

2011-11-02

The 2012 presidential election could affect health insurance rates in many different ways. The candidates are looking to define the basic health plan and make it more affordable. The way in which each of them are planning to do so, however could dramatically affect the way healthcare is viewed throughout the country.

The Affordable Care Act was put into place by President Obama in 2009. It features a number of different changes throughout the structure of healthcare, pharmaceutical companies, health insurance companies throughout the course of several years, with all final changes being completed by 2014. Many presidential candidates are in support of maintaining this act because they feel it will be the most affordable solution to the general population.

Other candidates feel that a basic health plan needs to be offered to every single person. This would require changing the affordable Care Act or getting rid of it entirely. This could increase or decrease the health insurance rates based upon the way it is set in motion.

The 2012 presidential election platforms are focusing a tremendous amount of energy on healthcare reform. Some candidates feel that healthcare should be handled on a state level while others feel it should be held on a federal level. The only thing that everyone is in agreement with is that healthcare needs to be focused on.

If everyone is given a basic health plan, it could significantly reduce the costs of health coverage because hospitals and other providers will no longer need to provide free coverage. It is the free coverage that is often increasing the costs of the healthcare industry because they must make up their costs by raising prices.

The cost for providing a basic health plan, however, must come from somewhere. This will either come from the state or federal governments, which could mean an increase in taxes or an increase in insurance costs.

There is talk about giving everyone the ability to purchase a health insurance plan. Those that are not insured will be heavily penalized, creating a financial burden. This could force some people to get the health insurance plan, which would make coverage more affordable for the masses. There are problems to this side, too, though, because of drawing requirements of who gets the assistance from the government and who doesn't.

Supporters of the Obama Affordable Care Act will probably keep things the way they are, which will have a positive impact on health insurance rates. The non-supporters could drive the rates up or down depending upon how they set their ideas into motion. No one wants to pay more for their health insurance, so this presidential election proves to be important.