The core motive of Obama healthcare was embedded with goals of increasing quality and affordability of healthcare and also lowering the rate of uninsured citizens by expanding importance of public and private insurance coverage and simultaneously reducing the costs of healthcare for individuals and government. Along with it, It has also introduced a number of important mechanisms which have included business mandates, subsidies, and insurance exchange programs. These in turn have helped to increase health, coverage insurance, reliability and affordability. The law has also required insurance companies to cover all applicants within the latest minimum standards and must also offer the same rules and regulations irrespective of any pre-existing conditions. Additional reforms and regulations have been aimed at to reduce healthcare costs and to also improve and revitalize healthcare outcomes through shifting the process. The process can only be achieved through increased competition, rigidness, and incentives that can be offered to streamline and smooth out the healthcare delivery.
The term "Obamacare" came into existence through rivals of Affordable Care Act (ACA) as an opposite term for the legal rights of human beings. It was first introduced in 2007 when healthcare analyst “Jeanne Schulte Scott” stated in a medical journal that "We will soon see a 'Giuliani-care' and 'Obama-care' to go along with 'McCain-care', 'Edwards-care', and a totally revamped and remodeled 'Hillary-care' from the 1990s". (Wallace, 2012) For many individuals, Obamacare or ACA has been described as an ideal way to reduce some very important health and safety costs, and it has certainly created compliance and accountability burden for employers that have also resulted in new reporting issues that have been noticed by employers and which must be incorporated by employees with the help of indirect tax that has made this indirect regressive tax a government incentive. (Rasmussen, 2010)
The Impact of Obamacare on Trade and Commerce
According to Blendon (2010), from a business and commercial perspective, Obamacare was sold as in a way to give small, as well as large businesses a new and much cheaper source of insurance financing by their own health exchange program. Almost all of these programs may not be able to offer their workers a choice of health plans that do undermine the core purpose of having these plans. It is also much difficult for business owners to follow specific rules and regulations which are meant for bigger businesses, and they don’t possess large human resource departments to help these departments out. The Obamacare program has been advantageous for small and medium businesses because they have been designed in a manner that allows small businesses with 50 or fewer workers a very important advantage: The ability to spread out and cancel their risk of massive medical expenses does play a huge role and proves that they are part of much larger groups and have helped to combine their purchasing power to get much better rates from insurers. A large number of people gave optimistic views regarding this very idea. Although it has been the commercial sector which has been doing its level best for the development of the health care sector, but the government has made a strategy to integrate its plan and take some bold procedures to improve this sector to a huge extent. Though some experts have stated that, in real terms, there is very little support from the government, and many have even claimed that the government has not contributed enough in the development of the healthcare sector. Many respondents have claimed that they have no real evidence of whether the government has given any real support for the development of the healthcare sector. (Rasmussen, 2010)
The economic and monetary prospects of the healthcare plan may not look healthy, and the USA government needs to focus on strengthening the underdeveloped healthcare sector to a very huge extent. Many respondents have been critical regarding the factors that can add to a better performance of the development of the health care sector of USA. However, many researchers do believe that that the economic factors of a country are integrated with its health care program and play a huge role in its development. The instability in the economic and finance sector could affect the development of the health care sector of USA and the core focus of the Obamacare in this regard should be to eradicate the barriers that are affecting the health care of their citizens.
Integration of Business sector and health care
It is obvious that merely economic and financial aspects are not important for the improvement of a specific sector and there are many other factors which can play a crucial in the development and stability of any sector. Due to this reason it should be noted that corporations and industries can play an important role in the development of the Obamacare program. Financial support is important in encouraging the small entrepreneurs to establish their business while it will have a direct impact on the healthcare program. However, a few regulatory affairs will affect the development of the healthcare sector and are also crucial in the development and encouragement of small and medium business entrepreneurs. (Barr, 2011)
It’s a common perception that it is extremely difficult for business owners and entrepreneurs to be disciplined and organized when the business procedures are constantly modified. According to many experts, the benefits of healthcare can easily outweigh the costs. It is just not weighing the cost benefit analysis to the businesses and corporations but the overall benefit of this move.
But, on the other hand, many leading business groups say that Obamacare is just part of a bigger picture of merely rising health care costs. Though many employers, as well as employees, have been trying to find various ways to trim and skim their healthcare benefits so that their spending rises in a smooth manner. But to blame such perspectives on Obamacare does miss the biggest perspective on business and health care costs.
Obamacare does have a very important impact on the commercial side of USA. The government of USA has worked hard to improve the infrastructure of Trade and commerce within framework of the country, and the Obamacare program along with the business sector can play an important role in the development of the country. Because of this reason, this study had focused intensively on the impact that Obamacare sector has been able to create in the commercial sector of USA and how it can bolster the economic and financial prospects of country like USA. Obama policies are designed, in such a way that every pinch of them is as per public need. Obama has gained so much popularity just because of his policies.
Barr, A. (2011). Introduction to U.S. Health Policy: The Organization, Financing, and Delivery of Health Care in America. JHU Press.
Blendon, R (2010). "Public opinion at the time of the vote on health care reform” Volume 3 (P.16): e55
Rasmussen, S (2010). "Why Obama Can't Move the Health-Care Numbers". The Wall Street Journal.
Wallace, G. (2012). "'Obamacare': The word that defined the health care debate". CNN. Retrieved September 4, 2012