Obama Fiscal Policy

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Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nations economy. In order to find the solution we need to address the core problem which is government spending and where it goes, majority of government spending goes to health and Medicare. The mandatory spending projected in 2015 is 2.45 trillion dollars in the fiscal year 986 billion of that money will go to healthcare alone! In United States fiscal policy, mandatory spending is spending on certain programs that are required by existing law. Meaning that we have no other choice but to cover those who are eligible for Medicare or any healthcare program if qualified. Obama care is a perfect example of a policy …show more content…

A few things Obama care does is it offers Americans new benefits, rights, and protections geared toward their healthcare, it allows Americans the acess to purchase health insurance that is federally regulated. Obama care also includes expansions on Medicaid and Medicare, and introduces new taxes and tax breaks. Americans who make under the 400% of the federal poverty level may qualify to receive cost assistance subsidies, which includes a premium tax credit for a reduction in premium costs, you pay less out of pocket, and can either be eligble to receive Medicaid or CHIP. Before Obama care a person could have been denied coverage or treatment for having a past existing condition or have been sick in the past, if you where woman you were charged more, and if any small mistake was made on your application you could be dropped in the middle of your treatment with Obama care that is no longer …show more content…

New services will be provided to Medicare enrollees that weren’t previously included, such as screening for cancer, blood pressure, and diabetes. Prescription drugs are now cheaper and as of now eight point nine billion dollars where saved because of Obama care. Obama care also helped with fighting healthcare fraud and increased the federal sentencing for any fraud offences. In the year 2013 three hundred and forty five people where charged with health care fraud and where all sentenced to at least a fifty-two months in prison. In the last five years The Health Care and Abuse Control Program retrieved nineteen point two billion dollars in fraud. In the upcoming paragraphs I shall be discussing the theoretical framework of Obama care and why all these rules and regulations where

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