September 7, 2015

Medicaid and Medicare are both closing in on their 50^th anniversary. As this happens, more private insurers are involved than ever. In the past, no one would have anticipated that 30 percent of people in the Medicare program or 50 percent of the people in Medicaid would participate in these in this manner. 

In 1965, it was felt by the leaders at the time that a social insurance system would better serve America’s populace than a commercial insurance system. The current presidential administration is hopeful that the Affordable Care Act will become the accepted logical outcome of these historical predecessors, but it does not come as a surprise to many that the current structure of our healthcare system is an ongoing challenge.

Now that 99 percent of people in the Medicare program have the opportunity to supplement this coverage with Medicare Advantage, there is concern about funding coming from the state level. Some states have seen enrollment grow much more quickly than anticipated.

Medicare Advantage is not the only program that is raising questions, either. The cost of prescriptions and qualifying for Medicaid to assist with long-term care support are chief concerns for individuals preparing for the future. If you have questions about your finances or your estate planning as it relates to these programs, now is a good time to set up a meeting with your elder law attorney.