Obamacare is working fine according to President Obama
But experts warn Obamacare could be a "train wreck."
President Obama announced during his press conference on Tuesday that the health care law, also known as Obamacare, is working fine.
What about concerns of millions of Americans who believe they are likely to lose their insurance coverage offered by their current employer or face even higher insurance premiums? President Obama down played those concerns and continues to argue that his new health insurance plan will eventually lower costs and if you have a plan you will be able to keep it.
Additionally, if you have insurance you will not have to worry about implementation issues at all. He contends that Obamacare should only affect a small group of people, 10 to 15 percent of Americans or the roughly 30 million Americans who dont have health insurance right now or those who are seeking better insurance policies.
Obamacare insurance is largest public policy change since Medicare and Social Security Implementation
The nation has a right to be very concerned. Arguably Obamacare or the more formally titled Patient Protection and Affordable Care Act created a public policy change which could be comparable to Medicare or Social Security, and according to a new Kaiser Family Foundation poll, most Americans continue to be confused about the 2010 law.
According to the report, Twelve percent of Americans said they believed that the law had been repealed by Congress, 7 percent said they thought it had been overturned by the Supreme Court and 23 percent said they did not know enough to say what the status of the law was.
What do employers say?
Although Obama believes that most of the policys plans have been implement and its working fine thats not what consumer advocates, employers and insurers are saying. Consumers are supposed to begin registering for insurance in October with coverage beginning in January 2014, but employers still have questions.
Insurers who were busy creating new health care plans to sell in the marketplace have hit snags filing applications for those plans by the Tuesday deadline. Questions abound and insurers faced issues with filing the applications electronically as required. Employers also have questions about new requirements for employer sponsored coverage especially as they relate to many part-time, temporary and seasonal employees.
Montana Democrat Senator Max Baucus criticizes implementation efforts
In what must have been one of the most significant blows to what was supposed to be a landmark new insurance plan President Obama is even facing criticism from his own party. According to the New York Times, Senator Max Baucus, Democrat of Montana and chairman of the Senate Finance Committee, believes that many of his constituents are still confused about the new law, and that education and outreach efforts by the administration were inadequate. He continued by describing Obamacare as a huge train wreck coming down.
Should we be worried?
So should the average consumer be concerned? Yes, employers are likely to realize the penalties they will pay for not providing insurance to their employees is a fraction of the new costs of providing insurance. We are likely to see companies begin to eliminate healthcare plans altogether.
When that happens you may experience more than just a glitch or a bump as the President Obama suggests. You will find that just like everything else the government sticks their nose into it wont work the way it is supposed to and you will be paying more and waiting longer for sub-par medical care.