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
- Trump bets his tax cuts will please Las Vegas voters on his swing West
- Lifetime income is the missing link to global retirement security
- Don’t let caregiving derail your clients’ retirement
- The ‘magic number’ for retirement hits $1.45M
- OBBBA can give small-business clients opportunities for saving
More Advisor NewsAnnuity News
- Human connection still key in the new annuity era
- Lifetime income is the missing link to global retirement security
- ‘All-weather’ annuity portfolios aim to sharply limit rainy days
- Annuity income: The new 401(k) standard?
- Smart annuity planning can benefit long-term tax planning
More Annuity NewsHealth/Employee Benefits News
- Trump admin seeks health-care price transparency
- OID approved in effort to make health coverage more affordable
- MEDICAID COST-SHARING COVERAGE VETO SUSTAINED
- MEDICAID COST-SHARING COVERAGE APPROVED
- DeSantis administration gets pushback for its child health policies
More Health/Employee Benefits NewsLife Insurance News
- Best’s Market Segment Report: Australia’s Non-Life Insurance Segment Navigating Growth in a Volatile Landscape
- AI and life insurance: Fast today, unpredictable tomorrow
- Judge allows PHL policyholders to intervene, denies ‘premium holiday’
- eHealth expands into final expense insurance
- CID hosts info session for PHL Variable policyholders
More Life Insurance News