January 27, 2017: With President Trump in the White House, there have been rumors changes will occur in Medicare and Medicaid. If such changes do happen, they may affect how you pay for your health care and medication. Republicans are expected to make cuts toMedicare benefits, change Medicaid funding, and potentially, shift the Medicare program to commercial insurance companies.
Currently, Medicaid provides health care for seventy-four million people of low to middle-income households, with most of the 530 billion-dollar budget going toward older and disabled Americans, It’s partially funded by the states, and the extent of the funding depends on the state. The Affordable Care Act of 2010 expanded Medicaid availability to nondisabled adults with a modified adjusted gross income below 138% of the federal poverty level. A 2012 decision by the Supreme Court gave states more leeway for eligibility criteria. Keep your eye on Medicaid expansion at the state level.
If Trump’s proposed plan for Medicaid goes through, states will receive what are called block grants, which is a chunk of money that a state would receive from the federal government. That state and its municipalities would have the freedom and responsibility to allocate the funding as they choose
The Affordable Care Act includes several provisions for Medicare, including free preventive-care services such as screenings for heart disease, cancer and diabetes, and vaccinations for flu and pneumonia. An additional provision of the Affordable Care Act included subsidies and discounts for prescription medicines.
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