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The Obamacare, formally referred to as the Patient Protection and Affordable Care Act, was signed into law on March 23, 2010. The statute requires that most American citizens have the basic health insurance. Individuals not covered by employer or government sponsored insurance in hospitalist jobs are required to buy subsidized private insurance.

Those individuals who do not abide to have basic healthcare insurance will be penalized unless they are indemnified from acquiring the insurance due to religious inclinations or financial inability. This provision is known as the individual mandate. By so doing, the law has enabled around 30 million Americans to gain access to basic health care insurance.

Initially, many accused the Obamacare of being unconstitutional as the Federal Government cannot force free citizens to purchase insurance from private companies. However, the Supreme Court has now ruled that the law is not unconstitutional as the Federal Government has the legal right to tax individuals who do not buy health insurance from a private company.

Obamacare has further implications including lowering the forecasted Medicare spending. It also expands insurance policies to cover pre existing conditions or ailments. There are also a number of reforms that the law creates in both the private and public health care sectors especially on issues relating to insurance. Funding for national health care will also considerably increase.

Critics of the law propose that it gives the government too much power over individual health care decisions. With the introduction of Obamacare in hospitalist jobs and its regulations, the Federal government gets to dictate what type of insurance will be sold to individuals and the best medical practices that shall be implemented. Some even go further to suggest that implementation of the law is a form of socialism.

The critics also highlight the other disadvantages of implementing the law. One disadvantage is the new taxes and penalties that will be introduced after implementation of Obamacare. The critics claim that the added taxes will lower economic growth by discouraging growth of businesses disposable vials and creation of new businesses. The economic downturn is projected at $706 billion. In addition, the rate of unemployment will increase as around 800,000 individuals will be rendered jobless.

The rich especially those in real estate and dealers in stocks will bear the brunt of these new taxes. This is due to the additional 3.8% tax on unearned income for families who make more than $250,000 annually.

The critics also do not see the benefit of the program as it does not comprehensively cover all Americans. The Government will force only a small proportion of the population, estimated at 18 million people, to get covered by Medicaid and other government programs. Millions of citizens are still left without health care insurance.
In addition to this, the Federal Government is targeting to spend approximately $125 million annually towards reduction of teen pregnancy without paying any due consideration to the issue of reducing the number of abortions occurring annually.

Individuals who are middle to high income earners are also at a disadvantage once Obamacare is implemented. This is because Medicare will increase its rates to cater for the incoming numbers. This will force most of these individuals who are in Medicare Advantage to drop out of the program as it is too costly.

Critics also cite the plight of doctors and health care practitioners in hospitalist jobs who will be adversely affected by the new regulations. It is believed that about two thirds of medical practitioners will not provide their services to any form of government sponsored health insurance. This is because the government has stipulated regulations are too high while indemnification is too low.

Small businesses will also suffer considerably due to Obamacare. This is as a result of the new penalties and fees payable to the government. Such businesses will have to cut down on their labor force in order to simply remain in business. Also, there is increased number of requirements as far as IRS reporting is concerned. This creates an unfavorable economic climate for such businesses which contribute heavily to the growth of the economy.