ESTATE PLANNING INSIGHTS By Ethan R. Okura
There have been many political changes in the federal government over the past year. With a Republican president in office and a Republican majority in the Congress, some people are concerned about possibly losing the expanded health care benefits that were provided for in the Affordable Care Act, also referred to as “Obamacare.” One of our clients’ most frequently asked questions of late is: “Will Medicaid go away?”
They are concerned that with a Republican-controlled federal government, health care benefits may be eliminated in order to help balance the federal budget. As an example, the CHIP — Children’s Health Insurance Program — recently ran out of funding. CHIP pays for health care for children in low- and middle-income families. Both Democrats and Republicans have historically supported the program, which pays for the health care of 9 million American children and pregnant mothers. Like Medicaid, CHIP is funded jointly by the federal and state governments, although the federal government pays the lion’s share of the costs.