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Ways Obama Is Amending Health Insurance For Citizens

By Tracy Goodman

Much fuss has been caused over President Obama’s plan to reform America’s health care system, and now a new law has passed regarding personal insurance. The new law covers over one-thousand pages, addressing every aspect of affected insurance rules, and future plans for the law’s integration. Read on to see the summarized version of how Obama is changing health insurance for Americans.

Small business owners were very concerned when they first heard the new law suggested would force them to offer insurance to their employees. Policies for business are typically expensive, and in hard economic times, small business owners thought that this is the last thing they need. However, the law passed, and small business is protected by a tax deduction, with a varying percentage depending on how many employees there are, and how much the policy to cover them costs.

When it comes to coverage on the level of the individual, each person will be treated differently for their own circumstances. College students will find a major relief in the law that insurance companies must cover children of clients until they achieve their own plan through an employer, or turn age 26. This makes it much easier for youth at this age to focus on their education, rather than worrying about possible medical bills.

An accident that sends you to the hospital is terrifying for many reasons, but those reasons should not be the possibility that a person could lose their home for having to repay the doctors. Because patients cannot go untreated, and hospitals cannot deny emergency service, costs of servicing patients without insurances or any means to make a full payment are passed on to those who can. By requiring everyone to have insurance, medical bills are predicted to lower in price, as the burden of paying for other patients ceases.

Most people are stuck with very few options as provided by their employer, and the independent market is frequently difficult to navigate and fully understand all of the fine print. The plan for the law is to initiate a change in the way insurance plans as products are dealt with, transforming their market into more of an exchange than a contract. The market will be very much like the stock market, allowing customers to move more freely between policies. This will create greater competition between companies, lower prices, and make companies compile offers.

Obama puts an end to some of insurance company’s slier methods of making a profit, such as dropping a client after they are diagnosed with something, and denying people who already have an illness the company doesn’t want to be guaranteed to pay for. These tactics are now punishable by law, and people with preexisting conditions can get the help they need to aid in paying for their unavoidable medical costs.

Seniors are also the victims of unfair insurance practices, as the companies watch the risk of death and illness increase with age, so does the price of their policies. The new law limits this to a 3 to 1 ratio, meaning companies will never be allowed to charge a person more than three times the amount of a younger individual, purely based on their age. Seniors will be able to rely on a lower, more steady cost of insurance when this aspect of the law goes into effect.

This is just a small portion of how Obama is changing health insurance for Americans, and many more benefits are predicted to come out of this change in the long run. It is a historical time for America, and the greatest legal change to medical financing in decades. If everything goes according to plan, prices will drop for patients, and the economy will receive a well-needed boost from people freed from the chains of medical bills.

Locate those individual health insurance plans you need now by looking online. Laws have changed and buying individual health insurance will be something you have to do. Go online today and learn more.

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Article Citation
MLA Style Citation:
Goodman, Tracy "Ways Obama Is Amending Health Insurance For Citizens." Ways Obama Is Amending Health Insurance For Citizens. 2 Jul. 2010. 20 Mar 2015 <>.

APA Style Citation:
Goodman, T (2010, July 2). Ways Obama Is Amending Health Insurance For Citizens. Retrieved March 20, 2015, from

Chicago Style Citation:
Goodman, Tracy "Ways Obama Is Amending Health Insurance For Citizens"

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