{"id":278,"date":"2019-10-22T14:35:50","date_gmt":"2019-10-22T14:35:50","guid":{"rendered":"http:\/\/ladintax.com\/blog\/2019\/10\/22\/health-care-a-hot-topic-for-2020\/"},"modified":"2019-10-22T14:35:50","modified_gmt":"2019-10-22T14:35:50","slug":"health-care-a-hot-topic-for-2020","status":"publish","type":"post","link":"http:\/\/ladintax.com\/blog\/2019\/10\/22\/health-care-a-hot-topic-for-2020\/","title":{"rendered":"Health Care a Hot Topic for 2020"},"content":{"rendered":"
\n

One issue sure to ignite the 2020 election year is the
\nfuture of health care in America. As Congress resumes its session this fall,
\nlegislators on both sides of the aisle are anxious to pass health-care-related bills
\nto gain positive campaign traction. Popular proposals include legislation to
\nlower prescription drug prices and ban surprise medical bills.1<\/sup><\/p>\n

So far in 2019, 33 states have passed 51 laws relating to
\ndrug pricing, affordability and access. State legislatures have deployed
\nseveral new measures, such as allowing prescription drugs to be imported from
\nother countries, monitoring excessive price increases by drug manufacturers and
\nestablishing oversight boards to set drug prices paid by state and local
\ngovernment.2<\/sup><\/p>\n

If you\u2019re concerned about the rising cost of health care and
\nhow it could affect your household budget, consider planning for higher
\nincreases in the future. Some Republicans in Congress have indicated that,
\nshould President Trump win a second term, they hope to reduce the nation\u2019s ballooning
\ndeficit (projected to reach $1 trillion in fiscal year 2020) by reducing
\nMedicare and Social Security benefits.3<\/sup> With this in mind, we can
\nhelp you explore tax-efficient ways to address health care expenses in
\nretirement. Feel free to contact us for more information.<\/p>\n

Employer options expanding<\/strong><\/p>\n

The federal government also has introduced a new rule that
\nmay help small businesses provide an additional health insurance option for employees.
\nIt allows employers to make tax-advantaged contributions to \u201chealth
\nreimbursement arrangements\u201d (HRAs). These accounts currently exist, but, until
\nnow, funds could not be used to purchase health insurance on the individual
\nmarket. \u00a0Beginning in January 2020, the
\nnew rule enables employers to offer this option to employees who do not have
\naccess to a company-sponsored plan. Workers will not have to pay income taxes
\non amounts the employer contributes to their HRA.4<\/sup> <\/p>\n

The new rule gives employers the option to cease offering a
\ncompany-sponsored health insurance plan and instead provide contributions to an
\nHRA. Some observers say this change eventually could mirror the way companies
\nused the 401(k) plan to stop offering defined benefit retirement pensions.5<\/sup><\/p>\n

Coupons for medical services<\/strong><\/p>\n

In an effort to reduce health care
\nexpenses, some consumers are turning to Groupon for discounts. Medical
\ncompanies and facilities across the country have negotiated with the coupon website
\nfor procedures including mammograms, MRIs, CT scans and even back surgery. The
\nstrategy helps hospitals and other medical facilities generate a new revenue
\nstream while giving uninsured patients an avenue to afford expensive medical
\ncare.6<\/sup><\/p>\n

Content prepared by Kara Stefan Communications.<\/em><\/strong><\/p>\n

1 <\/sup>Kaiser Health News. Sept. 9, 2019. \u201cBeyond Gun
\nControl: Prescription Drug Prices, Surprise Medical Bills Are At Top Of
\nCongress\u2019 Health Agenda For Fall.\u201d https:\/\/khn.org\/morning-breakout\/beyond-gun-control-prescription-drug-prices-surprise-medical-bills-are-at-top-of-congress-health-agenda-for-fall\/<\/a>. Accessed Sept. 10, 2019.<\/p>\n

2 <\/sup>Steven Findlay. Kaiser Health News. Sept. 9, 2019. \u201cStates
\nPass Record Number Of Laws To Reel In Drug Prices.\u201d https:\/\/khn.org\/news\/states-pass-record-number-of-laws-to-reel-in-drug-prices\/<\/a>. Accessed Sept. 10, 2019.<\/p>\n

3 <\/sup>Teresa Ghilarducci. Forbes. Aug. 23, 2019. \u201cTrump\u2019s
\nSecond-Term Plan For Social Security: Starve The Beast.\u201d<\/p>\n

https:\/\/www.forbes.com\/sites\/teresaghilarducci\/2019\/08\/23\/trumps-second-term-plan-for-social-security-starve-the-beast\/<\/a>. Accessed Sept. 10, 2019.<\/p>\n

4 <\/sup>Michael Kolber. The Hill. Aug. 20, 2019. \u201cCould next
\nyear be the beginning of the end of traditional employer-sponsored health
\ninsurance?\u201d https:\/\/thehill.com\/blogs\/congress-blog\/healthcare\/458032-could-next-year-be-the-beginning-of-the-end-of-traditional<\/a>. Accessed Sept. 10, 2019. <\/p>\n

5 <\/sup>Ibid.<\/p>\n

6 <\/sup>Lauren Weber. Kaiser Health News. Sept. 6, 2019. \u201cGroupons
\nFor Medical Treatment? Welcome To Today\u2019s U.S. Health Care.\u201d https:\/\/khn.org\/news\/groupons-for-medical-treatment-health-care-discounts\/<\/a>. Accessed Sept. 10, 2019. <\/p>\n

We are an independent
\nfirm helping individuals create retirement strategies using a variety of
\ninsurance products to custom suit their needs and objectives. This material is
\nintended to provide general information to help you understand basic retirement
\nincome strategies and should not be construed as financial advice. <\/em><\/p>\n

The information
\ncontained in this material is believed to be reliable, but accuracy and
\ncompleteness cannot be guaranteed; it is not intended to be used as the sole
\nbasis for financial decisions. If you are unable to access any of the news
\narticles and sources through the links provided in this text, please contact us
\nto request a copy of the desired reference.<\/em><\/p>\n

957613B<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

One issue sure to ignite the 2020 election year is the future of health care in America. As Congress resumes its session this fall, legislators on both sides of the aisle are anxious to pass health-care-related bills to gain positive campaign traction. Popular proposals include legislation to lower prescription drug prices and ban surprise medical…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[],"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts\/278"}],"collection":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/comments?post=278"}],"version-history":[{"count":0,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts\/278\/revisions"}],"wp:attachment":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/media?parent=278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/categories?post=278"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/tags?post=278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}