With the passage of the Affordable Care Act / Obamacare, comes with winners and losers. In this article, we will look at the losers of the new health care reform:
Affordable Care Act Losers:
- Seniors are the biggest losers because Affordable Care Act will cut over $500 billion dollars from the Federal Medicare spending over the next 10 years.
- Nurses and other hospital employees are also a big losers: With more people having access to Medicaid, hospitals will face severe financial pressures as the payout for Medicaid health coverage is the lowest in the nation. Medicaid will cut payments to hospitals and doctors, which in turn, increases the workload for nuses.
- High income taxpayers who earn more than $200,000 per year (or more than $250,000 married couple) are accessed with higher Medicare Tax and a new 3.8% tax on unearned income tax (dividends, passive income, capital gain tax, etc)
- High ranking executives and union members with generous health insurance plans will be assessed with 40% excise tax on their Cadillac health insurance plans. Cadillac health plans are defined as any health plans with premiums exceeding $10,200 for individuals or $27,500 for a family.
- Doctors are losers as they will get lower pay and more paperwork.
- Young healthy people who sign up for Affordable Care Act plans will be paying higher insurance premiums to subsidize older people.