The Supreme Court’s decision on Obama’s Health Care Law (actually called the Affordable Care Act) is a win for women and families. So smile a very sweet smile and read what this means for you. This is a quick summary, designed for Hot Flash Financial Mamas (or women “of a certain age and distinction”).
If you have a parent who is elderly, you will be pleased to know that s/he will be able to buy a lot more of her/his prescription drugs at affordable prices. The Affordable Care Act (also called Obamacare) closed the “donut hole” for people with Medicare Part D. That hole was created (during the Bush Administration) once elderly people, like your mother, bought more than $2,930 of medicines prescribed for her. So, after your mother’s retail prescription costs hit $2,931, she “fell into that hole.” Her next prescription refill cost her much more money. She was not shielded by Medicare’s discount or recommended price. That increase in costs was really hard for elderly people whose income is “fixed” and often limited.
Today, Obama’s Affordable Care Act will continue to close that “donut hole” thanks to the Supreme Court decision. Your mother, and father too, will be able to pay less for their prescription drugs, so important as they age.
Wow, that is a great load off your mind.
If you have adult children who are unable to find a job in the Great Recession, the Obama Affordable Care Act allows them stay on your health insurance until their 26th birthday.
What a relief for moms (and dads too) to know your young adult children are covered by medical insurance until they find a job that provides medical benefits, or age 26.
And for you, and anyone you help care for, insurance companies can not kick you or your family member off of their coverage because
- You or a family member has reached a lifetime dollar limit, or
- You or a child or any other family member has a pre-existing condition. (There is some small print in this part of the bill, a function of negotiation with insurance companies, that delays some of this benefit until 2014. But let’s use this summary to make some of the key points.)
- If you pay all your health insurance bills and become sick and disabled, you and your family member can not be denied coverage
More preventive care is covered at no additional costs to women. This includes mammograms.
So let’s celebrate the Supreme Court’s decision to uphold a law that must have been written for mothers and daughters, to ease their minds about the health of their family.
