How the Republican Health Plan Could Affect You [VIDEO]
The House republican Bill may not be getting as many praises as the Affordable Care Act did during its legislation. But for the wealthier, it may fare to offer something better compared to the existing health insurance providers in the United States.
The New York Times enumerates some of the advantages that a high-earning American can benefit from the Affordable Care Act Republican replacement. Earning $75,000 a year out of a profession or a business qualifies you for a $3,500 tax credit under the Republican plan that can be used to pay for your insurance premium. Meanwhile, under the Affordable Care Act or Obamacare, you do not get anything.
The American Health Care Act offers tax credits depending on your age regardless if your income is big or less. The Affordable Care Act cuts off financial assistance for upper-middle-class people. In the Trump-Health Care Act, tax credits go higher as your income scale increase. As for someone who does intermittent construction work in Indiana, you get insured through Medicaid since the state expands eligibility. In the American Health Care Act, that person will lose Medicaid coverage.
A single mother in Utah earning $47,000 year with a 6-year-old son with cerebral palsy has health insurance through the Affordable Care Act. However, her son will risk losing service he needs through Medicaid under the new Affordable Health Care Act.
The NPR reveals that the American Medical Association's opposition to the Republican Health Care plan is already moving in the House of Representatives. The association believes that the new health care program is critically flawed and will result in millions of Americans losing health insurance. The group also believes that the Republican bill will cut insurance for people who badly need it while providing more to those who should not get it or to those who can afford to pay for their medical expenses.
The idea of a 60-year-old making $20,000 a year not having health insurance compared to someone the same age who earns four times more, with the latter getting tax credits that can be used to buy health premiums, is something doctors, hospital organizations and the less fortunate of America is worried of.