Pros and Cons of Healthcare Reform Bill - Essay Example

It is not good for the declining American economy to spend more amounts at this juncture in the non-productive healthcare sector. “For the first ten years, the new bill will cost about $100 billion a year. This is about the yearly cost of the Iraq War. The bill might increase the cost of health insurance” (Pros and Cons of the Healthcare Reform Proposal(s), 2010). Moreover, tax hikes as part of the new bill will destroy family budgets. “You will have to either buy health insurance if you don’t have it or have a 2% tax increase” (Pros and Cons of the Healthcare Reform Proposal(s), 2010). The tax increase will affect both rich and poor people.

“There will be a doctor shortage because of the 40 million or so more people with health insurance. There may be a delay in getting medical treatment” (Pros and Cons of Health Insurance Reforms, 2009). The new reforms give more emphasis to the betterment of the patients and it says nothing about the betterment of healthcare professionals. In other words, the benefits enjoyed by the healthcare professionals as part of the old bill are ceased and therefore doctors are not taking their profession seriously now. The delay in getting essential medical services is a big threat to the lives of patients.

"According to experts, more than 87 million Americans could lose access to their current health care plan under the new law” (Are the March 2010 federal health care reform laws good for America? 2010). The current bill is intended not only for uninsured people but also for people who have already insurance coverage. In other words, all the existing insurance coverage may become void and all Americans should seek new coverage irrespective of whether presently they have insurance coverage or not.

“Rep. John Shadegg (R) of Arizona holds a news conference on Jan. 13 on Capitol Hill to make the case that there are hidden costs in the new health care bill” (Trumbull, 2010). In other words, the new bill is somewhat attractive only at the surface level. Hidden costs associated with the new bill would come out only after the grass root level analysis.

The coverage of the new healthcare reform bill is more than before. According to a study, “Coverage will expand to cover nearly 95% of legal U.S. residents”(9 Pros and Cons of the New Health-Care Reform Bill, 2010). It should be noted that no other healthcare bills had such as success rate. Another benefit of the new bill is the increased competition among private insurance companies and the subsequent availability of cheaper services to the public. Moreover, it is difficult for insurance companies to put many conditions in front of the people and they have to accept everyone who approaches them for insurance coverage because of the norms prescribed in the new bill.

The new healthcare reform bill has more disadvantages than advantages. Cuts in Medicare, more taxes, the absence of new incentives to physicians, and increased expenditure to the government are some of the drawbacks of increased coverage and increased competition among insurance companies are some of the advantages of the new bill.