1 Truth and 1 Misconception About How the Election Will Change Healthcare
The Affordable Care Act (ACA) was passed in March 2010 with the goals of increasing health coverage, slowing the growth of rising healthcare costs, and improving the quality of care. The law has had profound effects on the healthcare industry in the decade since its inception. The ACA eliminated annual and lifetime limits on coverage, ensured people with "pre-existing conditions" -- such as having survived cancer or even being a woman -- can't be charged more or denied coverage, and spurred consumer-focused information like data-based star ratings for hospitals and calorie counts on restaurant menus. These changes had significant implications for healthcare providers and insurers. While many believe the future of healthcare rests on Tuesday, Nov. 3, some things may change while others are likely to stay the same.
UnitedHealth Group (NYSE: UNH) and HCA Healthcare (NYSE: HCA) are the largest insurer and healthcare system in the U.S., respectively. Changes in the number of patients with insurance, what patients are allowed to be charged, and how many people seek treatment, preventative care, and routine checkups have a tremendous impact on both companies' revenues and profits. Let's take a look at what the impact of the ACA has been on the healthcare industry, and what that may mean for 2021 and beyond.
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Source Fool.com
