This will be the last article I will write on the infamous Affordable Care Act before we know just how the American people will vote in November. An interesting testimony to the popularity of this law is that President Obama has hardly mentioned this, his signature piece of legislation, during his campaign for re-election. With a majority of Americans still feeling negative about this law, his campaign managers do not want him to deal with it at this time. The law that was touted as “a law you will like once you learn more about it”; well this was simply not the case. It appears that 13 million folks will still not have coverage under this law and that the cost and tax structure to support this law are much more than was expected, at a time that government spending is so critical. In addition, in recent news it was offered that 6 million Americans will have to pay a penalty (or tax as the Supreme Court considers it) for not having health coverage. This tax will approach $1,200 annually for each person without coverage.
That all being said, no one is even sure that this law will stand. Governor Romney says that in his first day in office he will repeal the law. That of course will depend on the balance in both houses of Congress. At the very least, he would be able to shut down the implementation and timing of the changes to come, and at the same time try and bring the legislature together to revise the overall reform of health care. If President Obama is re-elected, he too will be dependent on the balance of power in Congress. A loss of the Senate and retention of a majority in the House by Republicans will definitely affect the continuation of this law through reductions in funding, and other road blocks that can be used to defeat the implementation.
So, the next time we issue our quarterly newsletter, things might be clearer as to the future of this highly controversial law. For the businesses holding back due to all of the uncertainty in their future, it will be a relief to possibly know one way or another. Here is hoping that is that case.