Obamacare Exchange Demographics Worse Than Romneycare

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By Attorney Nathan Simpson

A recent article by Forbes compares the demographics of those individuals signing up for health insurance under the Affordable Care Act with the enrollment numbers under RomneyCare in Massachusetts. These numbers are important, as a certain number of younger people are required to buy insurance for the business model to be sustainable. It appears that younger people are passing up insurance under Obamacare, just as they did under RomneyCare. Why? In part, it may be due to the limited availability of subsidies for younger individuals.

It remains unclear whether this trend will increase or decrease as the law is further implemented, but there is cause for concern about the long term viability of the Affordable Care Act if younger people do not enroll in larger numbers.

If you would like to learn more about planning for your health care needs in retirements, please contact an Ohio Elder Law Attorney at Cooper, Adel & Associates.

The Biggest Law Change Since Social Security

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By Thom L. Cooper
Certified Elder Law Attorney*

A friend once told me that dealing with “change in the world” is like trying to figure out how to deal with a stream of water flowing down a hill. You can excavate and build dams to channel and control the water or you can just figure where the water is going to flow and be there when it gets there.

It is the same way in the area if elder law. It’s a lot less work to anticipate and plan ahead of actual law changes rather than to try to deal with legal changes as they continually cascade upon us. Right now with Obamacare, I believe that we have upon us the biggest law change since Social Security. I think that the law will dramatically impact on way every senior in the country receives health care services in two very important ways:

The first is our ability to access care. In our new book Over the Hill and Under Obamacare, we have reviewed universal health care programs in the England, Canada and Massachusetts (where we had RomneyCare for several years). What we found was long waits for the most basic care and even longer waits to see a specialist.

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Simple Facts About Obamacare

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By Attorney Nathan Simpson

Forbes has recently published an article outlining 6 facts about health insurance reform.

Forbes found the following:

  1. That the majority of Americans will pay more in health insurance premiums over their life than they will use in health care services
  2. That under Obamacare, it will be easier for the sick to find health coverage, and the healthy will see higher costs
  3. Younger people will pay higher premiums under Obamacare
  4. Men and women will see similar costs for health insurance
  5. The cost of health care will continue to rise in the short-term
  6. People who previously had minimal health insurance will see their costs increase

As Obamacare is implemented, we expect to learn more and more about its effects on America’s healthcare system. If you would like to discuss a plan to make sure you are protected from a catastrophic health crisis, please contact the Elder Law Attorneys at Cooper, Adel & Associates.

http://www.forbes.com/sites/robertpearl/2013/11/28/6-simple-facts-about-health-insurance-reform/2/

Proposed Obamacare Spending Cuts to Impact Seniors

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By: Attorney Nathan Simpson

Mark Miller of Reuters has written about some of the proposals being discussed for the next round of budget negotiations in Washington relating to Social Security and Healthcare for Seniors now that Obamacare is taking effect. The key numbers: [Read more...]