There is a common misconception that the federal Medicaid program benefits only low income households. In reality, a large portion of its benefits go to supporting ailing middle class seniors. Our best guess, as CPAs working with our clients, is somewhere between 1/3 and ½ of middle class household have had an elderly parent or grandparent who has been a beneficiary of Medicaid.
Unfortunately, the American Health Care Act will weaken Medicaid by dramatically reducing future funding by 25%, making it a block grant program which will unfairly redistribute money costs away from the Metro NY Area and loosening the safeguards that prevent families from bearing the burden & cost of their infirmed elderly parents.
Most importantly we will have to wait to see if this bill will affect the highly successful and cost effective Community Medicaid Program. Much to the relief of patients and their families this program allows elderly patients to stay in their homes and receive the necessary care while preserving their assets so they can be passed down to the next generation.
It is our view that this bill, as now written, will result in families having to make brutal choices when long term care for disabled loved ones is needed.