Since this is an article on the subject of insurance I thought it fitting to use the most top of mind topic in the news today. No, the answer has nothing to do with the word Russians! In the marketing world, we call this TOMA are the top of mind awareness at any given time. So take a guess.
The answer is The Patient Protection and Affordable Care Act. It's now commonly referred to as the ACA.
To get many of your questions answered, I will be using another writers article. I prefer to write my analysis myself. However, this writer is Allison Bell and the editor of ThinkAdvisor magazine a well known and respected insurance publication. Here are few of the more salient points from a long paper on what the ACA may look like in the coming months or days.
Congress has run into serious trouble with their efforts to overhaul the Affordable Care Act. Congressional leaders are still talking about the possibility of repealing the whole act or coming up with a way to change or replace it. It is all coming down to a showdown.
Here are some thoughts about how "Trump Showdown Care" world could work.
The title is 5 Guesses about a Trump Showdown on Health Care. By Allison Bell
1. Much will depend on what steps Congress, the courts, federal employees and federal law enforcement agencies are able and willing to take to limit the administration's actions.
2. Issuers might pull individual major medical coverage off the shelves in many markets.
3. Issuers of products that compete with individual major medical coverage, such as short-term health insurance, might rejoice at first, thanks to a decline in competition from individual major medical coverage, but explosive growth might eventually force them to cap sales.
4. Assumptions that a showdown will be brief could interfere with any efforts to develop the kinds of alternatives to individual major medical coverage that could get the market through a prolonged showdown
5. The showdown could increase health plan claim costs even after everything goes back to normal.
I wish I were able to discuss each of these five points because the solution to this coming crisis will take a combination of ways to fill the gap if you are your loved ones will be unable to attain affordable health care. This article is available in its entirety on www.ThinkAdvisor.com or my blog www.TroncalliInsurance.com. Reach my company by email with Info@TronIns.com.
One caveat to the quote from Walter Scott. Most people stop at with the word weave. That’s where the conviction comes in the full quote it continues with “when we practice to deceive.” Think about that.