So what is Obamacare exactly? I decided to write about what Obamacare actually does, simply because it is a very complicated bill and I think many people don't know whether they support it or not because they don't know what it does, or what it could do for them or their loved ones.
The current system:
Underinsurance is also a serious issue in the US. For example, high-deductable plans and high co-pays encourage many to avoid necessary care; serious illness could mean financial ruin. According to the Kaiser family foundation, 75 million people skipped necessary care in 2010 due to cost, 25% with chronic conditions skipped prescriptions due to cost and 29 million Americans used all their savings to pay medical bills.
It will not fund abortions. (For those of you that think Federal funding supports abortion through Planned Parenthood, it doesn't. In fact, abortions represent only 3% of Planned Parenthood's annual costs.)
It does not allow the government to negotiate the price of drugs with pharmaceutical companies; this is a portion of the legislation that I hope can be changed in the future as it is a huge healthcare expense.
It does not mean "socialized medicine". Healthcare will continue to be provided and delivered privately.
It will not "bankrupt" the country; the Congressional Budget Office estimates it will cost $938 billion over the next ten years, but will pay for itself and reduce the deficit by $124 billion over the same time period.
We have many huge political battles we must face; why not improve the legislation we have in place rather than go backwards.
For more on the economics beyond this issue, you can read my previous post here.
Please do read Dave's piece linked above, just in case you missed that link, I'll post it again right here!