Ridin' Biden: What a Joe Biden Victory Could Mean for the Healthcare Industry

Now unless you've just woken up from a year-long coma, (which, if you have, then boy do we have some news for you) then you're probably aware Joe Biden is the projected winner of the 2020 U.S. Presidential election. Given President-elect Biden and President Trump have some *slight* ideological differences, there may be some changes on the horizon for the healthcare industry in the United States.

The Lowdown
Affordable Care Tact: Before Biden even gets to make his inaugural speech on the 20th, the Obama-era Affordable Care Act is already back in the headlines. The main issue: Constitutionality. While it is unlikely the law will be struck down, it is possible some changes will need to be made given the current political makeup of the Supreme Court, but that decision won't come until well into 2021.

Public Protection: Should the Affordable Care Act be upheld, Biden envisions an expanded, Medicare-like "public option" that would be available to Americans of any age. This government-backed public plan would be "substantially cheaper" than a private insurance plan with the government using its leverage to drive down the prices of hospital and doctor visits. Given the Senate is overwhelmingly red, however, there are doubts this will ever come to fruition.

COVID Calamity: Considering our content team are all wearing masks as they write this, it's safe to say the pandemic is still in full swing. While President Trump left COVID decisions largely up to the states, it is expected President-elect Biden will be adopting a "national plan" for COVID prevention and containment "starting on January 20th". What that plan will end up looking like, however, remains to be seen.