THE DEBATE OVER THE AFFORDABLE CARE ACT

There has been a lot of debate and discussion over the Affordable Care Act, the so-called healthcare reform bill that was recently upheld in the U.S. Supreme Court. Here are a few things you should be aware of about the impact of this bill.

Medicare

  • Your guaranteed Medicare benefits are safe
  • You can keep your own doctor
  • Many preventative screenings, such as for mammograms, are free
  • Prescription drugs will cost less
  • Some Medicare patients may receive more intensive follow-up for future preventative purposes.
  • Higher income beneficiaries will continue to see higher premiums for Medicare Part B and Part D prescription plans

Employer Coverage

  • If you like your employer’s coverage, keep it.
  • Other options: purchase coverage through your state’s insurance exchange.

No coverage

  • If you have no healthcare coverage on Jan. 1, 2014, you may be required to pay a special tax.
  • There are some exemptions based on income.

Future Provisions

  • Treatment for preexisting conditions must be covered by insurance companies.
  • Women can’t be charged higher premiums than men.

For questions, contact us and we can help you with how this information affects your estate plan.