The Impact on Medicare & Medicaid

The repeal and replace legislation concerning the Affordable Care Act (ACA), or Obamacare, seems complicated for many consumers. Though it will likely see changes as it is debated in the Senate, the American Healthcare Act (AHCA) currently contains important changes to Medicare and Medicaid. If you are currently using either of these programs, here is how the AHCA could affect you:

Medicare

Under Obamacare, funding for Medicare is protected until 2029, ensuring coverage for those who are eligible for the foreseeable future. Medicare is not part of the online marketplaces, so this coverage is protected more than other plans. Part A of Medicare covers hospital bills, skilled nursing care (excluding custodial care), hospice and home services. The coverage varies based on state and Federal laws, congressional decisions concerning coverage, and local coverage decisions by the companies that process claims. Part A does not require any additional premium. Part B requires a monthly premium and covers medical services such as lab tests or wheelchairs. Part D varies more and covers prescription medications.

Currently, Part A is funded through payroll taxes (2.9% for employers and employees or 1.45% for each). Higher income earners see an additional .9% added. It is Part A that will primarily be affected. The AHCA proposes to eliminate these taxes for higher income earners, reducing the amount of financing available for Part A. The reduced funding will leaver fewer American uninsured, forcing hospitals to provide uncompensated care. The solvency, or ability to pay all what is promised, of Medicare will become greatly reduced, and Medicare will not be able to pay all benefits promised in Part A. Medicare will only remain viable for another eight years. This means that over the next few years, Medicare will be unable to support an increasing elderly population, and many seniors will be required to find insurance in the open market.

Since Medicare covers people over 65, the AHCA will affect those who lose coverage in another way. Under Obamacare, elderly consumers could not be charged more than three times the premiums of younger consumers. The AHCA will allow this factor to be increased to five time the rates of the younger population in states that are awarded waivers to opt out of consumer protections. Under these waivers, pre-existing conditions could cause rates to rise or coverage denied. Since many elderly Americans suffer from pre-existing conditions, these waivers could cause many to lose coverage.

Medicaid

Obamacare permitted the expansion of Medicaid so that states may allow for coverage of single, nondisabled adults slightly above the poverty line. The Federal government pays most of the cost in the expansion. This allowed 10 million additional people to enroll under the new requirements. Single adults with an income below $15,800 are currently eligible for Medicaid benefits. Many people join or leave the program as their income fluctuates.

The AHCA proposes cuts to the program that will equal up to $880 million dollars for the Federal government. States will not receive reimbursement for individuals leaving the program, so as people fluctuate out due to income, the allotted resources will dwindle and less people will be eligible.

Medicaid will change from an entitlement program to a grant program, meaning states will have the option of providing a set amount of money to the individual or receiving a set amount of money for all recipients in the state. As federal reimbursements to the states fade, the available resources for Medicaid will decrease. Fewer people will be eligible and fewer health concerns will be covered. Many who are currently eligible for Medicaid will have to find coverage in the open market.

Millions of Americans rely on Medicare and Medicaid for medical coverage. The AHCA, as it currently stands, will affect many of these people in the coming years. The bill will likely change, hopefully ensuring sustained coverage for Americans on Medicare and Medicaid, but it is still important to understand how the bill could affect your coverage.

Relief Resources and Benefits Gov
 Let's begin with this. No One Is Guaranteed Government Assistance Just For Existing. That being said, Government aid can be very helpful to those enduring a financial struggle or hardship. It can also be beneficial for those looking to attain a higher...
Increasing Literacy in Children
Increasing Literacy in Children Literacy is important. This is a fact that cannot be stressed enough. Often, arts and literature are tossed to the side to make way for additional funding in other areas, but learning to read lays the foundation for further education...
Morning Habits for Success
Are you a morning person? Many people enjoy getting up at the sunrise and having a cup of coffee while they browse the web and others prefer to sleep in as long as possible but the most successful people in the world embrace the mornings and in fact there...
4 Most Challenging Discussions You Can Have With Family (And How To Have Them)
It's not always easy to practice open and honest communication, especially with your family. Unfortunately, that lack of communication can have serious consequences. If you're having a hard time finding the courage to approach your family about an issue you're...
How To Get The Best Insurance Deals
In most cases finding the best insurance deals is difficult. Since having insurance is a requirement rather than being optional it is a good idea to shop around for the best insurance deals. It’s difficult to shell out the cash for insurance premiums and...
The Best Self Help Gurus
In the world today, it is easy to come across scammers looking to take advantage of people in their weakest moments. The realm of self-help is no different. In fact, it can be much worse. Self-help scammers apply abstract concepts so that unsuspecting people will fork...
Ways to Face Fears | Succeed
All of us have a hard time with failure, and it can often lead us to feeling insecure about ourselves. It can even begin to compound our fears and leave us feeling nervous and anxious in unfamiliar situations. We want to be able to predict and control everything that...
Social Security Disability Benefit Application Help
 There are several advantages to applying for Social Security Benefits online. There is no need for an appointment and it will definitely save you time. Visitng your local Social Security Office can be very time consuming and frustrating. Read the...
You Can Save Money on Your Monthly Bills By Reading These Tips
When you add up the total cost of your monthly utility bills, you may be astounded by how expensive utilities can be. This may be particularly true during peak usage months in the height of summer and in the dead of winter. You and your family...
How To Get Involved with Affiliate Marketing or Direct Sales
How To Get Involved with Affiliate Marketing or Direct Sales Life can busy and complicated. With increased costs in childcare, one parent must often stay at home to watch the kids while the other parent works. Or, as someone begins their adulthood, they may need...
Solid Advice for Credit Repair
It may be difficult to find information on the best ways to improve your credit. There is a wealth of different tips in this article to help you rebuild your journey to credit repair. Using these tips can save you from stressing and prevent headaches....
Affordable Health Insurance
Is finding affordable health insurance as improbable as encountering a unicorn walking across your back lawn? It doesn't have to be. Here are seven steps you can take to lower your costs.   1. Understand your options to buying affordable health insurance...
Five Great Resources for Working from Home
 There have been thousands of people watching “Good Morning America” who have sent us messages thanking us for helping them make the money while working from home. For anyone who hasn’t yet taken the leap forward but feel as though you might be ready,...
Disability Lawyers | Filing SSA Claims
According to the Social Security Administration, an average of 52% of applicants is rejected yearly. This only shows that the government is very serious in paying only those who deserve these benefits. So, it is important that social security disability...
Rent Assistance and Low Cost Housing
With todays economy fluctuating , many individuals and families are struggling to pay bills in a timely fashion, including their rent. The good news is that there are a variety of options available to anyone who is facing late fees, court dates or even...
The Most Common Reasons for Debt
 High debt balances can create significant stress, negatively impact not only your future, but it can also impact your health. It can prevent you from enjoying the quality of life that you otherwise may enjoy without the burden of debt payments. While...
Readership Programs for Children
Readership Programs for Children The summer break may not always be beneficial to children. Studies show that children lose an average of one month of learning during the time off between school years. One way to counter this is to engross them in activities that...
Self Help Works Too!
Self-Help Works Too! Government assistance serves as a great safety net for a lot of people. Unemployment, SNAP, Social Security Disability, and other benefits operate as a great way to prevent total financial collapse following negative life events. However, each of...
The Greatness of Good Friday
 What a supreme paradox. We now call the day Jesus was crucified, Good.Many believe this name simply evolved—as language does. They point to the earlier designation, "God's Friday," as its root. (This seems a reasonable conjecture, given that "goodbye"...
Tips for Insurance Discounts
Home insurance and automobile insurance might be must-haves, but it doesn’t have to cost you an arm and a leg to have the appropriate coverages. There are things you can do to get discounts on your homeowners insurance and automobile insurance. Here are...

Subscribe

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Name and Email for Best Results

Due to the overwhelming response, enter your email for best results. Look for your free ebook from New Flex Career about finding unclaimed money!

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Pin It on Pinterest

The More You Share. The More We Can Help!

Share these posts & pages with friends!