The Affordable Care Act includes an expansion of Medicaid benefits for low-income Americans and while some states (and Governors) have voiced concern over the potential increase in costs of this expansion, an analysis by the Kaiser Family Foundation determined that Federal funds will actually deliver an advantage to states.
If all 50 states were to participate in the Medicaid expansion, their total projected costs in the 10 years through 2022 would increase by $76 billion, or about 3% nationally compared with current costs, the analysis shows. The states would also benefit from a gain of $952 billion in federal funding to help pay for the coverage of an additional 21.3 million people.
This new healthcare mandate allows states to expand coverage for people whose household income is at or below 138% of the federal poverty level, which in 2012 is $15,415 for an individual and $26,344 for a family of three. The federal government will pay for most of the costs, starting at 100% for the newly eligible in the first three years and phasing down to 90% after that.
Another positive outcome of health insurance for everyone is an expected overhaul of hospital emergency rooms as they no longer will be the pit stop for care for all those who do not have medical insurance and go there for acute care needs.
All seniors receive Medicare health insurance but if they have a very low income and minimum assets, they will qualify for Medicaid health insurance benefits which will pay for long-term care. You can view the Medicaid financial qualifications as you prepare for long-term senior care.
Many senior caregivers have not had access to health insurance previously and under Obama care they will receive access to health care.
