Health Care – Prompt Two

To be completely frank, I have never heard of a CBO report. After reading the summary and perusing through the actual report I learned a great deal about our current state of health care insurance and possibly the future of our health care. The CBO report bluntly states that while the new law will decrease federal spending by $321 billion dollars it will also increase the number of uninsured by 22 million. It is important to know that by enacting the Better Care Reconciliation Act of 2017 we would be taking away insurance from many individuals. It would nearly eliminate government spending on healthcare and place control of healthcare insurance in the hands of private sectors or markets. Although it will decrease federal spending it will increase individual private out-of-pocket spending for the consumers. Overall, this new legislation would benefit the more fortunate than the less fortunate. This is the basic gist of the report and I would certainly like to know more about specific terms.

For someone reading it like myself who isn’t completely versed in this language or terminology I would like to understand what it all really and truly means. For example, what does it mean to be or not be enrolled in nongroup coverage? Or what does the appropriation of funds for cost-sharing subsidies mean? And what will define the difference between low and high health expenditures? It also mentions waivers to change the structure of subsidies for nongroup coverage or the specifications for essential health benefits (EHBs), what does this look like and what are considered essential health benefits? I would also like to know what the CBO report looks like under the current law. I currently benefit from our current healthcare law and plan on acquiring more knowledge about how I’ll be affected. I definitely could look at the related publications provided at the end of the summary as well as doing some scholarly searching.

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