The revised version of the American Health Care Act passed by the House is not sound health reform. The bill continues to decimate New York'sMedicaid program, which covers 6 million people. The per capita Medicaid model proposed will affect everyone not just Medicaid recipients because a finite amount of Medicaid money to the state means cuts in services and eligibility restrictions. Those with commercial insurance will end up paying higher premiums, as providers look to close gaps left by Medicaid shortfalls. About 70 percent of Medicaid spending in our state covers care for the elderly and disabled, including children. These people will still need care. And even more disheartening is the amendment to cut $2.3 billion in Medicaid funding by shifting the cost burden from the counties to the state. This amendment was advanced by New York congressmen Faso and Collins and it leaves a huge hole in New York's budget. The House bill brings us back to pre-ACA days, when insurers could charge those with pre-existing conditions more, and it allows insurers to charge up to five times more for older Americans. Access to insurance is meaningless if premiums are unaffordable and the coverage is not comprehensive.
Developments in the Cryptocurrency Market
Jobs Waiting at halfway point in search of partners
Advisor News
- Can your advisory firm survive without you?
- I started using AI, but what now?
- How to support an entrepreneur client with multiple businesses
- Could a narrower focus help grow your practice?
- U.S. debt hits $40 trillion: how to support concerned clients
More Advisor NewsAnnuity News
- MassMutual Expands Lending Options With New Secured Credit Line
- Corebridge Financial Introduces Progressive Trigger, a First-of-Its-Kind Index Annuity Strategy Designed to Turn Missed Years into Future Opportunity
- Insurer proposes $1.1M deal to resolve CA teachers’ annuity fee lawsuit
- IMOs get frustrated with slow carrier adoption of faster technology
- New class-action lawsuit targets Delaware Life over annuity disclosures
More Annuity NewsHealth/Employee Benefits News
- Transparent Medicare Advantage guidance: Putting consumers first
- Legislators hear report on thin hospital margins, advance prior authorization reform
- Hawthorne School Budget Faces New Pressure As Health Insurance Costs Jump Nearly 34%
- Half the Coverage: What the TLC's Rideshare Insurance Cut Means for Queens Riders
- Answering questions on Medicare open enrollment
Terry Savage: Your questions answered on Medicare open enrollment
More Health/Employee Benefits NewsLife Insurance News