In a last ditch effort to repeal the Affordable Care Act (ACA), Senators Lindsey Graham (R-S.C.) and Bill Cassidy (R-L.A.) have put forth a new bill which can be passed by a simple majority of the Senate but only up until September 30th.
What You Need to Know:
♦ Medicaid funding will be capped and each state will receive a block grant to administer how the state sees fit. States such as New York, which had expanded Medicaid under the ACA, will lose a significant amount of money to care for the poor and the elderly. Seniors can expect deep cuts to Medicaid home care and nursing home care services.
♦ States will not be required to mandate that insurance premiums be the same regardless of health status. As such, people with pre-existing conditions can be charged higher premiums. This will include people with diabetes, asthma, heart disease and a host of other conditions for whom health insurance may then be unaffordable or unavailable.
♦ States will not be required to offer subsidies or tax credits to
off-set the higher premiums. Prior health care reform bills this year offered such tax credits and subsidies.
♦ Although the Congressional Budget Office (CBO) has yet to review and score this proposed legislation, the consensus is that premiums for most Americans will go up and coverage will be decreased.
This proposed health care bill significantly limits federal funds available to the states and is potentially very harmful to the entire aging American population.
We will continue to monitor this last ditch effort which hangs in the balance by three Republican votes in the Senate and will keep you updated.
Our Elder Law attorneys are available to answer any questions you may have regarding this latest proposed health care bill and how it may affect you and your loved ones. Call us at 631.390.5000 or click here.