What the Supreme Court’s decision upholding the Affordable Care Act means to you
June 29.2012
the staff of the Ridgewood blog
Ridgewood NJ, While supporters view the Supreme Court’s decision upholding the Affordable Care Act as a way extend health coverage to nearly half of the state’s more than one million uninsured. Most New Jersey healthcare executives including our own Audrey Meyers of Valley Hospital , and Democratic legislators reacted positively .Assuming that less uninsured will create less liability both financially and healthcare wise. Many emphasised the need to press forward creating a health insurance exchange, which are claimed to allow individuals and small businesses to buy coverage online in a transparent manner.
But business reaction to the Supreme Court’s decision was decidedly mixed, with most in the health care industry immediately supportive of the ruling and small business and others filled with doubts as to the ability of the Act to deliver on its promise of coverage and cost containment .
Perhaps Governor Christie summed it up best , saying he believed the health care law mandating universal coverage ” is the wrong approach for the people of New Jersey who should be able to make their own judgments about health care. Most importantly, the Supreme Court is confirming what we knew all along about this law — it is a tax on middle class Americans.”
Christie also said he did not believe a one-size-fits-all health care program works for the entire country and that each governor “should have the ability to make decisions about what works best for their state.”
According to the Washington Post “Obamacare” costs will run the average family of four making $40k per year no more than $1,600 to $2,520 with maximum out-of-pocket costs for deductibles and co-payments capped at 15 percent of the total cost.Failure to acquire insurance will subject you to penalties of about $2,085.
While Insurers can’t discriminate against you for having a pre-existing condition, and can only vary rates within a narrow range this will mean healthcare costs will have to be controlled through denial of services and limited options.