Financial health and physical health can go hand-in-hand. In thesetrying economic times it is important to make sure your finances are secure,not only for the health of your bank account, but for your physical health aswell.
This issue was recently taken up in a CNN article titled, â€œ10 ways falling offthe fiscal cliff could hurt your health.â€
According to the Congressional Budget Office, if the fiscal cliffis not avoided, the scheduled reduction in Medicareâ€™s payment rates forphysicians will lower Medicare spending by $11 billion. This overall spendingreduction results in a 2% cut in existing Medicare budgets. Consequently, thesereductions will mean a decrease of available Medicare funds to help pay foressential healthcare needs.
In many instances, Medicare funds are used to pay for vitalservices like nursing home and hospice care, which are crucial to the wellbeingof our elderly population. Reduced Medicare funds mean reduced payments tohealth care providers which, in turn, may cause hospitals and care providers tostop accepting Medicare patients.
As we prepare for the possible approach of the fiscal cliff, aconsultation with an experienced elder law attorney can ensure that your accessto healthcare is protected. An experienced elder law attorney also may helpfile an appeal in the event your health care provider denies your Medicarepayments.
Trying to keep up to date on Medicaid, Medicare or any other issues faced by America's Elderly can be a daunting task.At Idaho Estate Planning, we understand these challenges. We have theexperience and expertise to help you maintain your options and protect yourselfas well as your loved ones now and into the future. Remember, good planning isno accident.