How Biden’s healthcare plan fixes the individual health insurance system

Much has been said about the current individual health insurance system that exists in America today. Dr. Matthew Boente MD sees hope in the future in plans being laid out by leaders like Joe Biden. The gaping hole in the health insurance status quo is that individual health insurance premiums and deductibles have been quite unaffordable to many people as have prescription drugs. It is ironic that the legal literature behind it is known as the Affordable Care Act (ACA), created by former President Barrack Obama and Vice President Biden.

Presidential candidate Joe Biden, probably the biggest name associated with Obama, is up against the pressure of political leaders who want to replace the Affordable Care Act for its shortcomings, and it is rather worthy to note that he is up against both rabid Republicans and disheartened Democrats.

However, Biden believes in the progress that the Affordable Care Act has brought. As with any new healthcare program the ACA needed changes and adjustments as time progressed but the Trump administration was not receptive of said changes, the most important of which was to expand coverage for the uninsured and under-insured. Biden’s strategy is to give consumers more helpful options to build further on whatever benefits there are in the current law.

Under his presidency, he intends to give Americans a new public health insurance option like Medicare, which helps them when their chosen insurance company does not serve them properly. This option will reduce costs through negotiation, by the Center for Medicaid and Medicare services (CMS) for lower prices from hospitals, insurers, and pharmaceutical companies.

Biden also aims to increase the value of tax credits to lower premiums and extend coverage to more Americans in the working class. Further, his plan includes lowering the limit on the cost of coverage. This means that no family in the individual insurance market should pay more than 8.5% of their income.

Dr. Matthew Boente MD sees more than a few flashes of brilliance for the healthcare sector in the Biden administration. There is hope for a healthier, more protected America on the horizon. Dr. Matthew Boente MD is a board-certified obstetrician, gynecologist, and gynecologic oncologist. From 2017 to 2018, Dr. Boente worked as Medical Director for US Medical Affairs, Gyn-Oncology in Genentech Inc. in San Francisco, where he led a large global cross-functional team responsible for the FDA approval of bevacizumab with chemotherapy in front line ovarian cancer. To know more about Dr. Boente, visit this website.