The Repeal of Obamacare – What it could Mean for the Self-Employed

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The Repeal of Obamacare – What it could Mean for the Self-Employed

The self-employed face a number of obstacles that people working for large companies do not have to deal with, and health insurance is one of the most important. While employees of big corporations typically get coverage through their employer, self-employed persons and those who work for small businesses usually have to take care of this themselves, and if costs are prohibitive, this can mean going without insurance entirely.

Obamacare and the Self-Employed

The Affordable Care Act, often known as Obamacare, helped to counter this to some extent by making healthcare more affordable and widely available for Americans. A study published by the University of California Berkeley shows a notable increase in the number of insured Californians following the passing of the Affordable Care Act, and the positive impact was felt in countless other areas as well.

For many Americans, especially those who are self-employed or working for local businesses, reduced costs under Obamacare meant that they could get coverage that they otherwise would not be able to afford. Obtaining coverage not only provides peace of mind, but also helps businesses – instead of worrying about how they are going to pay for their insurance premiums, they can can focus on work, growth, and the future of their companies.

The repeal of the Affordable Care Act could affect millions of people across the country, but experts say that it could disproportionately impact those who are self-employed or working for small businesses. A repeal of the ACA would mean the end of coverage for many, and between that and the continually rising cost of healthcare, it could spell the end for thousands of small businesses and halt would-be startups before they even begin.

Downsides of Obamacare

Of course, Obamacare was not perfect. Some people were adversely affected by the act, including the owners of small businesses. Business owners are feeling the negative effects of rising healthcare costs too, and many say that these costs and concerns about the future are interfering with their ability to successfully run their companies. However, while Obamacare may have hurt small businesses in this respect, it remains unclear whether its replacement would do anything to amend the situation.

Going Forward

For now, the future remains largely uncertain. A repeal of the Affordable Care Act could spell major trouble for large numbers of self-employed people, and could have serious repercussions for small businesses across the country. Time will tell how changes to the American healthcare system impact the self-employed and employees of large corporations alike.