NEW HEALTHCARE BILL AND PAYING FOR LONG-TERM CARE
We're been hearing it since he announced his candidacy for President - Donald Trump will repeal and replace Obamacare. Most Americans were either happy, upset, or did not care because they get health insurance from their employer. But, what about how the new healthcare bill would change the options in paying for long-term care? Most people didn't think about that. When we read the newspaper we hear about cuts to Medicaid, for many Americans cuts to Mediciad means nothing. It means nothing because they're thinking about Mediciad for the underprivileged Americans; not the nearly 50 million Americans age 65 or older, which over half of these Americans will need long-term care at some point in their life. Many of these Americans requiring long-term care do not have the funds to private pay for expensive nursing homes. Do you know how much the average nursing home costs today? Over $50,000 per year. Most senior citizens do not have any extra $50,000 to pay per year to a nursing home, so they look to Medicaid to help.
The newly proposed Senate bill The Better Care Reconciliation Act (BCRA) has proposed to cut Mediciad by $772 Billion over the next 10 years. This is not a political post, but one to help make people aware that there could be significant changes to how our government helps pay for the care of its people. If this budget cut does go through, it will be even more imperative to contact a lawyer that is skilled in Medicaid planning and help you through the process of obtaining Mediciad approval to help cover the extreme costs of nursing home care.