Ask an Elder Care Attorney New Jersey: Medicare for All or Medicare at 50? Proposals to Expand Medicare and Medicaid, Part III
We have
been examining two proposals to expand Medicare and Medicaid by introducing
universal health care coverage or allowing individuals to buy a private plan
using Medicare and Medicaid efficiencies. The idea behind these proposals is to
pass on the cost-savings of managed Medicare and Medicaid plans to all
Americans. There are other proposals that have not received the same level of
attention, however, which are other ways to address the overall problem of
rising health care costs for care, treatment, and prescriptions.
Eliminate Employment-Sponsored Healthcare Plans
The
Medicare for All plan envisions eliminating employment-sponsored healthcare
plans and replacing it with a universal health insurance program. The only
annual out of pocket expense is $200 to assist with prescription drug benefits.
This means that employers would no longer provide health care coverage as an employee
benefit.
Target Early Retirees
Another
Bill would allow anyone over 50 to buy in to Medicare through a private health
insurance plan that would offer plan participants cost-sharing benefits like
tax credits and lower premiums.
Two other
proposals getting attention are trying to add people currently left out of the
Affordable Care Act or shut out of healthcare marketplaces. The main part of
both proposals is to allow people to buy into government insurance or continue
to buy private insurance to cover medical care and treatment not covered by
Medicare. These proposals are as follows:
● Medicaid
Extra for All
is a proposal by the Center for American
Progress offering
a combination of private and public insurance health coverage options. The
program is limited to legal residents and estimates are that it would take
decades to bring all Americans on board.
● Healthy
America,
sponsored by the Urban Institute, is a plan that would provide
health insurance coverage for 16 million people, not currently covered under
the Affordable Healthcare Act. This plan is limited to legal U.S. citizens or
residents.
Individuals
suffering from chronic illnesses stand to benefit from all the proposed
options. Affordable premiums would help pay for most of the medical care and
treatment needed to manage chronic illnesses, like end-stage renal disease and
Parkinson’s Disease. Also, in the Medicare for All or Medicare and Medicaid
buy-in programs, coverage would be expanded to include vision and dental
benefits, benefits currently excluded from Medicare coverage.
Find the best Elder Care Attorney New Jersey Near You
People
face complex legal concerns as they age and enter retirement. An elder care
attorney can assist with disability planning, durable powers of attorney,
living trusts, drafting of wills and other estate plan documents, among many
other legal concerns. Talk to an Elder Care Attorney in New Jersey today about
health care proxies and Medicaid planning for long-term medical care.
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