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Home Affordable Care Act Infographic: Before And After The ACA

Infographic: Before And After The ACA

2 minute read
by Robert Sheen
This Infographic Shows The Positive Impact the ACA has had on Americans’ Personal Finances

The Congressional Budget Office previously forewarned that a post-ACA world would lead to some financial troubles, and that those effects could trickle down significantly into the pockets of the American people. From nearly doubling the number of uninsured Americans to racking up additional government debt in the billions, the loss of the Affordable Care Act (ACA) could have been greater than the rewards of repealing it.

Apparently, enough members of Congress agreed because the ACA repeal and replace effort has failed, at least for the foreseeable future.

Prior to the ACA passing in 2010, personal bankruptcies were at an all-time high. Healthcare was a leading contributor to the increase. Healthcare was deemed unaffordable in many instances, and the number of uninsured was staggering; 48.6 million people representing 16 percent of the population. Many people with chronic conditions ended up in the ER, resulting in medical bills they couldn’t afford. As a result, many people fell into bankruptcy as they tried to pay their medical bills.

Since the ACA, those trends have shifted. Former President Obama’s goal of providing not only affordable healthcare, but reducing ER visits through an increase in preventative care has contributed to a significant decrease in the number of people without health insurance and in a drop in personal bankruptcies by 50%, as illustrated in the infographic below.

Infographic- Backruptcies Decline.jpg

Infographic- Uninsured Americans.jpg

Commenting in a recent article written by Consumer Reports, Jim Molleur, a Maine-based bankruptcy attorney with 20 years of experience, called the turnaround in personal bankruptcies “absolutely remarkable.”

“We’re not getting people with big medical bills, chronically sick people who would hit those lifetime caps or be denied because of pre-existing conditions. They seemed to disappear almost overnight once ACA kicked in,” he said.

No matter your view on repeal of the ACA, it’s doubtful that any Americans want to find themselves back in a healthcare system where they have to choose between getting the medical care they need or avoiding such care in order to protect their personal savings. For now, it looks like they will be spared facing that dilemma. The real question is where does healthcare reform go from here? Stay tuned.

Summary
Infographic: Before And After The ACA
Article Name
Infographic: Before And After The ACA
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This infographic highlights some of the many aspects of healthcare and personal finance that Americans have gained since the ACA was passed.
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The ACA Times
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