The Affordable care act (ACA) 2010, had authorized reductions in Medicare spending; however, spending has been rising since then. The independent nature of the board allows submission and implementation of prepositions by the congress, or the HHS secretary without unnecessary political interventions. This paper intends to describe the composition of the reform act, and the effects that arise due to the existing components of the reform. The paper will explore the reform act exposing the possible missing elements and their consequences in relation to health care (Ronai 62). The paper will offer recommendations on areas that may require improvements in order to improve Medicare. Components of the reform act In June 2012, the Supreme Court declared that the Patient protection and Affordable Care Act (ACA) are part of the constitution. The purpose of the law is to improve health care for Americans through a variety of expansions relating to health insurance (Ronai 63). The inclusion of IPAB with health care legislation was for the purpose preventing unnecessary political pressures and influences regarding healthcare budgets. The IPAB is to contain 15 appointees of the president expected to remain in service for a period not exceeding six years. The appointees are to work in accordance to the directions of the senate. The president performs consultations with majority leaders in the senate and the speaker of the House of Representatives, before making fundamental decisions regarding the selection of the appointees. The persons appointed in the Board should involve physicians and other professionals in the health care industry. However, the board is not to contain a majority of persons who have direct involvement in the provision of health care service. The board is not to constitute unemployed as part of the sitting members. The president is accountable for the creation of public disclosures by IPAB members for the purpose of preventing any financial conflicts of interests (Auerbach 2). The reform act requires that by the end of April each year, commencing 2013; the Centers for Medicare and Medicaid Services (CMS) should present an estimate termed as the projected Medicare Growth Rate (PMGR) (Auerbach 3). The enrollee calculation presented assumes that Medicare expenditures rise as more individuals join the program. The estimate thus; emphasizes on the rate of growth of the Medicare expenses (Ronai 65). The presentation of the estimates is the responsibility of the chief actuary of the CMS. The chief actuary is to present computations regarding the expected growth rate for the future. This will include years, 2014 up to 2019. The purpose of this venture will be to determine the target growth rate for a period of about 5 years, which will be the center of two extended inflation rates. There will be a consideration of the Consumer Price Index (CPI), plus the Medicare expenses option which involves the adjustments in prices encountered during the provision of health care such as drug supplies and hospital services (Auerbach 4). From the year 2020 and beyond, the goal for Medicare expenditures will have a connection with the entire growth of the economy and not the initial connection with the rise in prices. The target computation will be in relation to the Gross Domestic Product (GDP) of the country. One percent addition to the GDP will be considered, and measurements on expenditures performed against the extended growth rate. As the IPAB has a responsibility of issuing recommendations
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Name Professor Course Date Independent Payment Advisory Board of the Affordable Care Act Introduction The independent Advisory Board (IPAB) is an executive branch established by the Affordable care act for the purpose of cutting down the increasing Medicare expenses…
The author states that the healthcare reform has nationalized its system at the cost of $940 billion. Such amount is exacted from budget cuts, taxation and government funding. On a positive note, it was perceived to have reduced the national fiscal deficiency by $1.2 trillion. This was perceived as the strategic resolution.
The Obama government to achieve multiple objectives of strengthening Medicare, reduction of disparities in low-income people and to give coverage options to uninsured people announced the care act (Healthcare.gov, 2011). More than 32 million Americans are living without health care.
548). As such, the Patient Protection and Affordable Care Act or Obamacare, had gone through the hole of the needle before it had been passed into law on March 23, 2010. But despite its enactment, Obamacare has remained controversial and continued to be criticized and opposed (York, 2011), even challenged in federal court (Dawald, 2011).
President Obama’s healthcare law “Patients Protection and Affordable Care Act” or informally known as Obamacare, is believed to be the “signature achievement of Obama's administration” (Gamage 1). However, American public has been witnessing a never-ending debate over this act pertaining to issues like non-workability, and unfeasibility.
The act is also called Obamacare which is for a period of four years. By the year 2014, every citizen will be mandated to get health insurance otherwise face the consequences of penalty. They can select to find out treatment for their own purpose. If people opt for coverage, they may have a plan to do so or can get it via their employers, Medicare, Medicaid, or also privately hold it.
However, there has been emerging challenges in the quest for reforms that will cut down the Medicare spending to make this service cheaper for all. Achieving this goal will helping out the whole of healthcare system. Cutting down the cost of Medicare would lead to an efficient and effective health care system.
The act, which is also known as, the Obama act was approved by the congress and there after it was signed by the president for it to be included in the law. These proceedings happened on the 23rd day of March in 2010. Later on June 28th in the year 2012 the court passed its final judgement on the act.
The reform’s aim is to regulate public and private insurance companies to meet the demands of the public for efficient medical services. However, before the reform was signed, there were speculations that the reform will do the contrary of
Moreover, it aims to reduce the amount of health care spending. It does this by making health care affordable to the lower-income class, equalizes health care rates for both men and women, and allows health insurance coverage to even those
d by the very low infant mortality rates and the many programs that address the needs of the elderly, the disabled and the low income earners (Gorin 3). The boost in health, lately, has been due to the Affordable Care Act, commonly known as Obamacare. The ACA has been imperative
10 pages (2500 words)Research Paper
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