According to the recent reports revealed, a team of data researchers and reporters have conducted an analysis to rate the success of the Affordable Care Act after being in place for more than a year now. The team found that the act was at least successful in fulfilling the major promises made by U.S. President Barrack Obama. However, it has also been weak in some or the other ways and paved a way for a strong conventional repercussion.
Of late, there were a lot of rumors that the healthcare reform turn out to be a disaster for the taxpayers and consumers. However, nothing of such sort ensued.
Approximately $100 billion dollars will be reduced in the federal budget deficit by the Affordable Care Act, Obamacare, in spite of adding heath coverage for about 10 million people, Congressional Budget Office said. The reform has been able to achieve this act as a result of accomplishment of one of its key goals, which was to bring down the cost of health care.
“The growth of healthcare costs has been at close to historic lows, both in the public programs, that is Medicare and Medicaid, as well as the private sector,” Van de Water said.
Although, there are still some critics opposing health care reform, saying that it would be a disaster despite there being not even a shred of evidence in the data to support their belief. Other critics have decided to keep silent on the issue.
Certainly, a dramatic decline has been observed in the overall federal deficit. As per projections, it equals roughly about $5 trillion less by 2020 than what was predicted just 4 years ago.
Van de Water stated, “Affordable Care Act (ACA) is improving the vital Medicare program, which is facing threats from the influx of millions of baby boomers. There is a need to understand the stark fact that Medicare needs continuous adjustments, but it must be noted that the health care reform has only improved the prospects of Medicare.”