What Is the Future of Affordable Healthcare in America?
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A healthcare system stands as one, if not the most integral aspect of a country or a community. A robust system would contribute to the overall health of the population while also contributing to economic growth, improved quality of life, and more importantly, building public trust in government and institutions
In the USA, affordable healthcare has long been a standing issue. Back in 2010, the Affordable Care Act (ACA), was signed into law by former President, Barack Obama. Introducing the most significant changes to the U.S. healthcare system since Medicare and Medicaid in 1965, this law expanded coverage, improving access to insurance, and implementing new regulations. It also made it mandatory that Health insurance marketplaces or Health Exchanges were operating in every state for people to purchase health insurance.
Since the marketplaces were introduced in 2014, more than 49.4 million Americans have enrolled in health insurance, accounting for one in every seven people in the country. Over time, the ACA has gained significantly more popularity than when it was first introduced. Despite most Republicans calling for repeal, it was estimated that over 60% of the public held a favorable view of the legislation.
Various pharmaceutical and health insurance companies, like CVS Health’s (CVS:US) Aetna and UnitedHealth Group (UNH:US), play a significant role in contributing to the Affordable Care Act (ACA) by offering health insurance plans on the ACA marketplaces. These companies offer insurance plans through the federally-run Healthcare.gov and state platforms, providing income-based subsidies to make coverage more affordable.
Rep. Ro Khanna recently bought - under his child’s ownership - just under $50,000 worth of UNH shares. He also reported both his spouse's and his child’s sales of CVS stock on August 2; both transactions valued up to $50,000. Rep. Khanna is one of the most prominent traders in Congress and is presently seated on the Oversight and Accountability Committee, among others.
On September 4, Rep. John James sold up to $15,000 worth of UNH shares, also reporting capital gains greater than $200. Before this, purchased between $1,001 and $15,000 on November 10, 2023, as reported in a delayed filing on September 03, 2024. Another politician who previously purchased UnitedHealth stock but reported his buys late as well was Rep. Jared Moskowitz who bought in July 2023 and February 2024.
As the November elections near, the ACA’s application weighs heavily on voters. During the second Presidential debate on September 11, 2024, Democratic nominee Kamala Harris emphasized the Democratic belief that “healthcare is a right, not a privilege.” Republican nominee Donald Trump on the other hand, stated that he “would only change it if we come up with something that's better and less expensive.”
