Will Healthcare Reform Have a Leading Negative Impact on the U.S. Economy? Preliminary Data Indicate No.

Will Healthcare Reform Have a Leading Negative Impact on the U.S. Economy? Preliminary Data Indicate No.

Webster University

BUSN 5620 - 01

Spring 2013 – Bellomo

March 5, 2013

Healthcare reform has been a divisive topic of debate for several years now with the primary concern being whether or not the consequences of the statute will worsen what is already a rather volatile economy driving the U.S. deeper into the current recession. While arguments on both sides seem rational, preliminary data upon rollout of the initiatives indicate that many of the opposing concerns were unfounded. The data provided from the earlier implemented provisions of the plan have so far proven to void some of the voiced concerns of those opposed to the reform. I believe as the terms and action steps of President Obama’s healthcare reform are ironed out and executed through 2013 and 2014, the best course of action is to sit back and observe rather than taking preemptive measures for the unknown. It is my position that much of the opposition was “crying wolf” in the face of change. As we continue to carry out the terms of the Patient Protection and Affordable Care Act (PPACA) of 2010, I believe the United States will find that the reform may prove to be less detrimental than many fear, even going so far as to have a beneficial effect on the current and future economy.

What is Healthcare Reform?

Healthcare reform, officially titled the Patient Protection and Affordable Care Act of 2010, is more commonly known as Obamacare or the Affordable Care Act. According to The Heritage Foundation, a well-known Conservative public policy research institute: “The Patient Protection and Affordable Care Act (PPACA), the health care bill signed into law by President Obama in March, will overhaul the current health insurance system by enforcing mandates on individuals and businesses, expanding Medicaid, and introducing new taxes and fines to help pay for the increased ‘federal budgetary...