Obamacare will have a positive effect on seniors by closing the Medicare prescription drug donut hole, and improve the overall care for seniors. Graph 1 shows the expected rare of uninsured Americans over the next ten years. .
However, Obamacare also have negative effects on the American people. Because the law did not go into effect until this year, the premium rates were rising at a hasty rate in recent years to prepare for the predicted loss caused by Obamacare. The individuals who already had health coverage were being required to pay these high premiums. Every person is required to purchase health insurance of they will have to pay extra taxes. $716 billion dollars will be cut from Medicare. Obamacare is projected to cost $1.1 trillion dollars over the next ten years which will be paid from the taxpayers and the states. There is also expected to be a shortage of health care professionals. By 2025, there is projected to be a shortage of 52,000 primary care physicians resulting in millions of Americans not having access to healthcare. It will cost pharmaceutical companies an extra $84.4 billion in fees over the next ten years to pay to close the donut hole in Medicare. This may result in them raising the drug costs for other people. In graph 2, you will find a demonstration of the tax increases that will affect all Americans. In addition to Obamacare impacting average Americans, it also affects small and large businesses. A positive affect for small businesses is that it provides millions of dollars in tax credits to small businesses with less than 25 employees to offset the cost of buying health insurance for their employees. Businesses with more than 50 full time employees are exempt from the fee on the first 30 employees. Small businesses can offer better quality benefits which could increase the amount of people that want to work for those business. Graph 3 shows that Obamacare is not the highest tax increase in American.