Economics by the rule of Obama Essay Example | Topics and Well Written Essays - 750 words

Economics by the rule of Obama - Essay Example In California Insurance Exchange Subsidies and Tax credit, Obama-care subsidized those who ranged from 139% to 400% of federal poverty level; 400% poverty level is considered the yearly income of $45,000 for an individual and $62,000 for a family of two. Obama-care is an idea that has been evolving over many years, the initials of the idea started forming its shape when the economy had to see a downward trend, leaving many people jobless, facing money and related issues. It was becoming hard for the people to survive with little or no income. They had to find other sources and till the time they did they needed to have government support.In order to avail subsidies in California, the customer needs to sign up for an exchange program. The customer has to provide last year tax information, projected income, medical history, social security number, employer and income information, policy number, employer coverage tool, and any other information that could affect the health policy. There are different health insurance coverage programs that are available in the region of California these include bronze plan 60% would be paid by the insurance company and the rest of 40% would be paid by the customer, silver plan had a 70%/30% policy of expenses paid by the company and customer respectively, Gold Plan and Platinum plan which has a ratio of 80%/20% and 90%/10% accordingly. They designed a plan where the health insurance would be deducted from the part of their taxes, and no extra burden would be placed on the citizens.