Since the Supreme Court published its decisions regarding the constitutionality of the Affordable Care Act, there’s been far more discussion over the option to reject the Medicare expansion plan than the mandate that all Americans must purchase health insurance.
For Republicans, the option to reject federal aid offers a glimmer of hope that there’s still time to overturn the health care legislation, and many have reiterated this stance.
In Texas, Governor Rick Perry has joined at least 14 other states in saying he will reject federal aid to extend Medicare to non-elderly recipients in his state. Like many other Republican-dominated states, he opposes what he views as the socialization movement of the health care reform law and argues that such reforms are too costly and will devastate the state’s budget.
On the other side of the coin, supporters like Patricia Young Brown, president and CEO of Central Health of the Travis County hospital district in Texas, say expanding Medicaid and implementing other reforms mandated by the new legislation will help save the state money in the long run. “You can pay a dollar now to keep someone as healthy as possible … or you’re going to pay for it later when they’re sick,” observes Brown.
Whether Medicaid is extended in your state or not, the ruling to uphold the individual insurance mandate (subject to a penalty “tax” for non-compliance) means that the Patient Protection and Affordability Care Act will achieve at least part of its funding objectives and will likely move forward. While there’s still the possibility that it could be overturned by Congress should Republicans take over the presidential administration, many health care industry experts observe that the sands of change are already in motion and reforms underway within the industry itself are not likely to reverse.
Regardless of where you stand on the political forum, it’s never a good idea to depend solely on government programs to provide for your wellbeing in the future – particularly with something as important as your personal health care. Please contact us to discuss strategies for positioning your assets for flexible options that can include a plan for your health care needs in retirement.
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