about obama care

Government lawmaking has an impact on how businesses function; this impact can be either positive or harmful.
Large portions of business revenue go toward the GDP.
GDP is decreased when laws are passed that have a negative impact on enterprises.
Businesses are a good source of employment, but their ability to hire as many people as possible is limited by restrictions that put them at a competitive disadvantage.
However, if it fosters an environment that is conducive to company operations, owners, society, and the economy all gain significantly. Affordable care act/Obamacare has impacted the business in the United States in both positive and negative ways. Obamacare is a health insurance cover that was enacted in 2010; the law aimed to ensure all Americans have access to affordable health insurance. The enactment of the law has led to increase in the number of people with health insurance coverage.
The law required corporations that have more than hundred full-time employees to offer health assurance to at least seventy percent of these employees by 2014. Mid-sized organizations that have fulltime employees ranging from fifty to ninety-nine were required to offer insurance cover to at least ninety-five percent of the staff by in 2016. The burden for the large corporations was to increase from seventy to ninety-five percent by 2016. However, small businesses that have less than fifty full-time workers were not required to provide the insurance cover to their employees.
The health insurance has been under criticisms in the recent past. Many people are concerned about the huge cost that the government incurs as a result of the cover. Donald Trump has proposed several changes to the affordable care act; the changes are aimed to lower the government spending on health. Some of the target areas for the changes include the payments the government makes to the companies as compensation for deductibles. Such a move will affect the low-income earners and the country's economic productivity. The Obamacare act has affected businesses, individual's life and the United States economic productivity both positively and negatively as explained below.
The enactment of the Obamacare act has impacted the United States economic productivity in various ways. The high penalties and high fees charged the investors who don't comply with the law have led to decreased investments. Reduced investments result in decreased productivity. A small economic pie means that employees earn low salaries and wages. Wages and salaries are the sources of revenues for the government achieved through taxable income. The effect of low taxable income is that the government may be forced to borrow; this puts pressure on the interest rates. Some of the savings that could have been used in productive business investments are used in the payment of the high-interest rates.
The requirement that all organizations that have more than fifty full-time employees must provide them with a health insurance cover has affected the country's economic productivity hugely. As a result of this act, companies have decided to lower the number of employees to less than fifty. Others have slashed the working hours. This move is aimed to lower the operations costs since most of them cannot afford to pay the amount required for the insurance covers. Profit maximization is one of the topmost objectives of any business. Operation costs determine the competitiveness of business in the market. High operation costs lower the business competitiveness. An organization must recover all the costs used in the production of a product or service; it recovers this through the sale of the goods. When the cost of producing a good is high, the price charged for the same good is also high. As a result, it becomes hard for the company to attract large of customers and sell large volumes especially when there is a company offering similar goods at a lower price. In a nutshell, the heavy burden imposed on the organizations to pay health insurance for their employees affects the price of the end product. This puts the companies at a competitive disadvantage. The United States based companies have a hard time competing with other companies producing similar products based in other countries where operation cost is low.
However, despite the various negative effects on the country's economic productivity Affordable Care Act has contributed a lot to the realization of a healthy workforce in the country. A healthy workforce is an invaluable instrument in economic development and growth. Improving the health of the country's citizens is a foundation for economic growth since individuals will be able to go about their duties effectively. There is a direct correlation between health and individual productivity. Obamacare has made it possible the poor in the country to afford health insurance covers. This act has helped ensure the citizen's wellbeing and can tend their duties appropriately. Moreover, the insurance cover offers the citizens security in case of illness. Illness has psychological and financial effects on the family members and friends. With an insurance cover, family and friends can go about their daily duties without much worry about the bill. Such worries may have adverse effects on their productivity resulting to low contribution on the economy. In a nutshell, the Obamacare has ensured healthy citizens; this has contributed to increased individual productivity and the economic productivity.
The Affordable Care Act has also impacted the businesses, both positively and negatively. The requirement that organizations with more than fifty full-time employees take care of their health insurance coverage is an overhead to the businesses. The act has led to increased health insurance costs and organizations are forced to lay off some of their key employees to lower the operational costs. However, the same has helped the organizations realize high performances emanating from high employees productivity. The expanded access to medical care has helped ensure health workforce in the firms. This is invaluable in the performance of the businesses. In sum, the enactment of the law has led to increasing the business spending. However, it has also helped the businesses to realize the value of their money, through high employee productivity.
The act has also affected the citizen's daily life in many ways. First, the act has made it affordable for the less privileged to afford health insurance cover. As a result, these individuals spend less on health; the citizens can use the savings to make development investments. Second, the act has made it compulsory for the United States citizens to acquire the health insurance. Today it is mandatory for everybody to have a health insurance cover. Low-income earners have lost jobs due to the enactment of this law. Organizations have laid off some employees to reduce the cost. Others are now employed under a part-time scheme, though initially were under the fulltime scheme. This has been as a result of the demand to cover the full-time employees.












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