Since the Affordable Care Act became the law of the land, there has been much written concerning its ongoing economic impact on our nation’s economy. There have also been many sound reports that few of the benchmarks set for it have ever been reached. Both good and bad has been reported concerning this massive legislation. Now that we have had a long history with the “ACA” we have started to see its impact first hand. The heated debate regarding what to do next with it has been ongoing and recently overshadowed by the COVID-19 pandemic. Politicians are not economists, and are not always known for making sound financial choices. Some have argued that the government neglected to listen to its own economists, the Congressional Budget Office when it passed this bill into law.
Instructions
Using the economic principles which you have learned throughout the semester, write an amendment to, or a replacement for the Affordable Care Act. The changes you create will need to accomplish the original stated goals of the Affordable Care Act.
For those of you who cannot remember what they were, here is a quick recap:
- Bring down the overall cost of health care as it related to GDP
- Provide health care services for the entire population
- Provide a full prescription drug benefit for the elderly
- Expand the entire scope of health care services
As an economist it is your choice what to do next. You may replace or repair the system at will, but will need to explain why and how. This is not an attack on the President personally, and as such please keep the political rhetoric out of your paper. Also keep faith out of it. The argument that “this will work” if we get everyone to believe in it, is both foolish and dangerous.