Massachusetts Estate Planning & Asset Protection Blog

Is your Planning Stuck in Limbo? (part 2)

Posted by Dennis Sullivan & Associates on Tue, Aug 01, 2017

How does the debate over health care reform affect you and your estate plan?

35274856603_c2af85ca10_b.jpg In our last post we discussed the importance of keeping up with the constant changes happening in health care reform. We will continue to examine how the on-going deliberations in Washington may affect you, your future health care and your estate.  We at Dennis Sullivan & Associates are keeping up to date on all the changes, and making sure you stay informed on all the important details.  For more information on the current law of the land, you can download our Report: Senior & Boomers Guide to Health Care Reform.   

The Senate has dealt a devastating setback to Republican efforts to repeal and replace Obamacare, defeating a GOP "skinny repeal" bill early Friday morning. With the "skinny repeal" bill off the table, lawmakers are unsure of where the health care debate is headed. 

Senate Majority Leader McConnell and his staff are trying to find a balance between conservative Republicans, who want a full repeal of ObamaCare and a replacement that has lower health care costs, and more moderate Republicans who want to preserve its more popular benefits.

The deal-making process is in full swing, with the additions of opioid funding and allowing health savings accounts to be used to pay for insurance premiums. Some Senators are for potentially leaving in some taxes to pay for more generous benefits, after weeks of being criticized by Democrats for offering “tax cuts for the rich and Medicaid cuts for the poor.” Conservatives want to cut more from the regulations and many from Medicaid expansion states are uneasy about future cuts to Medicaid.

Senator Ted Cruz of Texas has offered an amendment called the “Consumer Freedom Option” that would allow insurance companies to sell any health coverage plan they wish as long as they provide one plan that satisfies the “essential benefits” mandates of Obamacare. While the Cruz amendment appeals to conservatives who want to provide consumers with lower cost options, moderates are concerned it could negatively impact those with pre-existing conditions. Supporters have suggested that federal subsidies could help ensure that premiums don’t increase for those who are seriously ill. The CBO is currently scoring this amendment.  

President Trump, along with Senator Rand Paul of Kentucky and Senator Ben Sasse of Nebraska, has even offered to repeal ObamaCare for now and replace it later.

Of course, no one is going to get everything they want so there must be compromises. Majority Leader McConnell has said that if the Senate is not able to pass a bill soon, Congress will have to pass a bipartisan measure to shore up the imploding health insurance markets.

And so, the Civics lesson continues. The process is at work.  As we see here the process can be long, unstable and worrisome.  Luckily for you your estate planning doesn’t have be. We at Dennis Sullivan and Associates make your estate planning and asset protection worry and stress free.  Once you have a plan in place you will feel confident knowing it will protect you, your family and your life savings.  You can enjoy life to the fullest knowing you and your family are protected no matter what unknowns lay ahead. 

 

At the Estate Planning & Asset Protection Law Center, we help people and their families protect their home, spouse, life-savings, and legacy for their loved ones.  We provide clients with a unique educational and counseling so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

We encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy.

Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Tags: Affordable Health Care, Affordable Health Care Act, Announcements, Elder Law, Estate Planning, Financial Planning, Health Care, Health Care Ruling, Medicaid, Medicare, Obamacare, Retirement, applying for medicare, Medicaid penalties, care costs, care, coverage, coverages, disenrollment, elder care, enrollment, elder care journey, federal, health, health Care act, life-care plan, long term care, medicaid qualification, medical expenses, proposed changes, senior, unreimbured medical expenses, seniors

Bring in the New Year with Clarity about Obamacare!| Massachusetts Elder Law Attorney

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Tue, Dec 31, 2013

 

Happy New Year, Affordable Health Care, Obamacare 

I know what you're thinking…

 

"Oh, great...more information on the Affordable Care Act? I can't even understand the information I've already read!"

 

Well, folks if you were born between 1946 and 1964, you should read this - because "Obamacare" may be good for Boomers.

 

Boomers were shattered by the recent recession, and many have significantly-shrunken savings. This is happening at the exact time they're starting to fall prey to the infirmities of advancing age. Many, as a result of the recession, have gone without health insurance. And those who've had to purchase their own insurance are paying five to seven times as much as younger people. Talk about a perfect storm!

 

People who retire before 65 are at special risk. They're not eligible for Medicaid, and if they're not on insurance plans from their former employers, they won't get group discounts. In addition, this age group has been hard-hit by denial of coverage for pre-existing conditions - which cannot happen under ACA.

 

Under ACA, there will be no limit on annual or lifetime benefits, and Boomers will pay no more than three times as much as younger people.

 

In addition, many Boomers will be eligible for tax breaks, which will be used toward paying part of their insurance bills...therefore lowering their rates. And Boomers who've kept working just so they could keep employer-sponsored insurance may now have the freedom to retire, because costs for individual coverage will be lower.

 

But it's certainly complicated. And as of this writing, the government has shut down, politicians are screaming, and registration for ACA has started...making everything even more complicated.

 

But we can help.

 

At The Estate Planning and Asset Protection Law Center of Dennis Sullivan and Associates, we're Elder Law and Estate Planning attorneys. We know how this new legislation will affect Boomers. In fact, we've been helping Massachusetts families figure out new legislation - both Federal and state - for the past 25 years. And we've helped them, too, with comprehensive estate planning, wills, trusts, powers of attorney, long-term care planning, asset-protection plans, and assistance with Medicaid and the VA.

 

If you're confused about "Obamacare," give us a call. We'll clear it up for you. And help you bring in the New Year with peace of mind!

 Don't forget, in our New book "Senior and Boomer's Guide to Health Care and Avoiding Nursing Home Poverty", we discuss the many issues that this law has created for Seniors and Boomers. Download your free report by clicking the button below.

 

Seniors and Boomers Guide

 

 If you would like to learn even more about the changes in health care please attend one of our informative, FREE workshops. 

Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Tags: Medicaid, Obama, Affordable Health Care, Obamacare, 2014, Affordable Health Care Act

Confused About the Affordable Health Care Act (Obamacare)? | Massachusetts Elder Law Attorney

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Thu, Nov 14, 2013

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We are here to help!

The Affordable Care Act (Obamacare) provides insurance for those who are uninsured, many of whom have, unfortunately, become overcome with confusion, fear, and misunderstanding, that they are avoiding to process all together. We understand that! We are navigating the options for the people we help, but even we are little unsure of the best options for them.

But there is one thing we are sure of, its the new benefits added to Medicare recipients! These added benefits include yearly Wellness visits (an opportunity to talk about your future), and coverage for numerous procedures that were not covered before.

For more information about this confusing topic, visit our website to receive your free copy of our report, "The Senior's & Boomer's Guide to Health Care Reform and Avoiding Nursing Home Poverty."

At the Estate Planning & Asset Protection Law Center, we help people and their families learn how to protect their home, spouse, life-savings, and legacy for their loved ones.  We provide clients with a unique educational and counseling approach so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

Make sure you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about Obamacare, Medicare cuts, taxes, & how to avoid nursing home poverty!

Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Click the picture below for some more information on the 
"Senior & Boomers' Guide to Health Care Reform & Avoiding Nursing Home Poverty." 

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Tags: Medicare, Medicaid, MassHealth, Wellesley, medical expenses, medicaid qualification, Medicare, Obama, 2013, Massachusettes, Affordable Health Care, Obamacare

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