A possible problem repealing Obamacare
With the new Administration in the White House there has been a call by many when it comes to repealing Obamacare. Our nation’s healthcare law that was enacted in 2010 which is better known as the Affordable Care Act (ACA). […]Read more
Medicare Means Testing (IRMAA)
- ACA, Affordable Care Act, Dan McGrath, financial planning, Healthcare Costs, Income, IRMAA, Means Testing, Medicare, Medicare Modernization Act, Part B, Part D
Within Medicare if you are earning too much in retirement will be subject to higher premiums than others through its Income Related Monthly Adjustment Amount or IRMAA. What is it? As defined by Medicare: “If you have higher income, the […]Read more
And the Regulations will be Televised
- 401(k), ACA, Affordable Care Act, Congress, Dan McGrath, Fidelity Health Care, financial planning, Healthcare, Healthcare Costs, Healthview, Medicare, Modern Healthcare, Obamacare, Part B, Part D, Retirement, Social Security, the Budget
Back in 1997, our government began its quest to tackle the unsustainable increase in healthcare spending by enacting legislation which created a formula, aptly titled “the Medicare Sustainable Growth formula”, through the Balanced Budget Act of 1997 (BBA).
This formula was designed to limit the “growth in spending for physicians’ services by linking updates to target rates of spending growth. The law provides for a mechanism for enforcement of the target rate of growth. When spending increases exceed the targeted rate of growth, payments are automatically reduced across the board”. (more…)Read more
Is it misinformation or something more sinister?
- Affordable Care Act, Dan McGrath, EBRI, Fidelity, Fidelity Health Care, Fiduciary Responsibility, Health Care, Healthcare Costs, Healthcare Costs in Retirement, Healthview, Market watch, Medicare, Part B, Part D, Retirement, Taxes
Survey after survey confirms that one of the most major concerns investors have is planning for their health costs in retirement, and rightly so.
With legislative changes coming from both Congress and the President, the course of this expense that everyonemust have has taken some drastic turns in the not so distant past.
Some of the changes have altered not only the overall costs of this expense (such as being penalized for having too much income, or the threat of debts possibly being passed to the next generation if not planned for accordingly), but the biggest change in the last 25 years is that these costs are now mandatory. (more…)Read more
Money for nothing and your healthcare for free…I want my subsidies
- ACA, Affordable Care Act, Dan McGrath, Filial Support Law, financial planning, Health, Health Costs, Health Insurance, Healthcare, Healthcare Costs, Long Term care, Medicaid Recovery Act, Medicare, Obamacare
“Money for nothing and your health care for free…”
Not exactly the line from the 1985 Dire Straits hit, but lately it seems to fit the mantra of many in the country, especially after the Affordable Care Act passed and everyone learned about “subsidies”.
“I want my, I want my, I want my subsidies…”
According to the ACA, and when our government decides to enforce our nation’s laws (keep in mind that the ACA passed in 2011 and was put on hold for a while), everyone must have health insurance or else. But for those who happened to be earning below certain specified amounts, they just may qualify for “money for nothing and health care for close to free”. The qualifications are outlined below: (more…)Read more
Why was the Affordable Care Act created?
As the year known as 2014 comes to a close and the new year of 2015 creeps closer the subject of the Affordable Care Act (ACA) may start to overtake the conversation of Americans as the Individual Mandate may finally be enforced throughout the country.
The question, at times, that has been raised at many conferences and seminars I have spoken at has been “why was the Affordable Care Act even been created” especially as it would seem that it may not be all that affordable and that many people seem to be diametrically opposed to it.
The answer, believe or not, can actually be found in the law itself as it clearly states, with in HR 3590, on pages 124 through 134 of the “Individual Responsibility” section the reason why.Read more
The forgotten 3rd Guarantee in life to death & taxes – health costs
- ACA, Affordable Care Act, Employee health insurance, financial planning, Health, Health Care, Healthcare, Medicare, Retirement, Social Security
Throughout history it is has been said that there are only two axioms permanent in life: death and taxes. But, thanks regulations from the federal government, there is a third, which just happens to be healthcare costs.Read more
Planning for your parents retirement…you should be!
- ACA, Affordable Care Act, Fidelity Health Care, Filial, Filial Support Law, financial planning, financial plans, Health, Health Insurance, Healthcare, Medicaid, No Health Insurance, Obamacare, Pittas, Retirement, Retirement Planning
Ever hear of Filial Support Law?
The little unknown law on the books of 29 states that has the possibility to impact anyone who has a parent residing in them. Under this law each state can go after the families of people who have unpaid health costs which they accrued while being enrolled under Medicaid.Read more