Delawari Financial: The ACA Simplified

Friday, April 18, 2014 | 7:38 pm

The Affordable Care Act (ACA) can be incredibly confusing. It doesn’t help that it has many nicknames, but one of the most popular is Obamacare. Here at Delawari Financial, we are here to help clear things up as much as possible, so we are going to get the ACA simplified.

The ACA is having, and will have, a major impact on our economy. In fact, the ACA controls the largest industry in America – healthcare. Healthcare represents $2.8 trillion dollars. That’s 17 percent of our economy. To put this into perspective, our healthcare industry is larger than all of France’s economy!

I visited Blake Longo from A.J. Longo & Associates, which has been insuring Southern California businesses since 1970. He tackles some of the most frequently asked questions for us.

Watch Our Video on the ACA Simplified

Most bills of legislation average about 500 to 600 pages. With the ACA, it originated in 2,700 pages. The total number of pages is predicted to be 300,000 pages by the time legislation is complete. This finalization is expected to take about 10 years for bureaucrats to complete. All in all, keeping the ACA simplified, the legislation will most likely change by as much as 25 percent over the next 10 years as it evolves.

The ACA Simplified through 2 basic questions

What is the most profound change with the ACA?

The new law opens up the individual access to medical care without medical underwriting or exclusions for pre-existing conditions.

Are there any concerns about the ACA?

The biggest concern is how to pay for the new law. The medical field is constantly evolving and coming up with all sorts of different treatment options. Since there is so much that can be done, costs keep rising. The Federal government will have to contribute funds on an ongoing basis to help fund the ACA. Unfortunately, the impact of the new subscribers is really unknown at this point.

Medical plans are put into place to help create a financing system for providing healthcare. People can expect to see continual increases due to the ongoing increases in medical care costs.

Despite a bumpy start, the law seems here to stay. As time goes on and the legislation is written, the kinks will be ironed out of the ACA and it will no longer need to be simplified.

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About Waleed Delawari

Waleed Delawari is one of Pasadena’s leading mortgage professionals. Since opening his own brokerage firm in 2001, Waleed has successfully closed over one billion dollars in mortgage loans and successfully helped thousands of borrowers purchasing Pasadena Real Estate.

To get pre-approved, contact Waleed Delawari at Delawari Financial.

 

 

 

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