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.