Five year review: Is Obamacare good for America?

Five year review: Is Obamacare good for America?

A comparison of the American healthcare system in 2010 and in 2015

On March 23, 2010, President Obama signed his name 22 times to bring the Affordable Health Care Act (commonly referred to as Obamacare) into law.

“As we mark the turning of spring, we also mark a new season in America,” said Obama. “In a few moments, when I sign this bill, all of the overheated rhetoric over reform will finally confront the reality of reform.”

Alas, that overheated rhetoric has not cooled down, even with the bill operating for half a decade. In June, the Supreme Court will rule on King v. Burwell, a lawsuit that could potentially stop two thirds of the states from providing financial assistance to people trying to buy health insurance. The result could be devastating for over eight million people.

Polls throughout the years have consistently shown the ambiguity of the American populace towards this bill. Surveys have shown that opinions both for and against Obamacare have hovered around 50 percent for the past five years. Indeed, the largest majority, about three fifths of people, say that the law has had no impact on their family at all.

So what has Obamacare done for America? Has it been a train wreck that has derailed the entire economy, as the Republican claimed? Has it saved millions of lives and eradicated the budget deficit, as Democrats claimed? In fact, the results are much less striking.

In 2010, 49.9 million people were uninsured. In 2015, approximately 33.5 million people are uninsured.

In 2010, people with preexisting conditions could be denied coverage or forced to pay higher premiums. In 2015, insurers cannot deny or charge extra for women, sick people, or elderly people. They can however charge more for smokers.

In 2010, buying your own health insurance was largely unaffordable. In 2015, the government offers subsidized coverage.

In 2010, the average annual premium for a single person’s coverage was $5,049, for a family it was $13,770. The average annual deductible cost $917. In 2015, coverage for a single person costs $6,025 and for a family costs $16,834. The average deductible costs $1,217

In 2010, Medicare trustees predicted the fund for the elderly would be exhausted by 2017. In 2015, Medicare is expected to run out by 2030.

Five years on, it may still be too soon to tell if Obamacare saved or ruined the American healthcare system.

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