Having health insurance is vital to one’s health and financial well-being in the United States. Out-of-pocket medical expenses are the leading cause of personal bankruptcy. Even with new laws such as the Affordable Care Act (ACA)—aka “Obamacare”—11.7% of Americans remain uninsured. Analysts have only recently been able to examine the data of uninsured rates prior to ACA’s implementation to now. WalletHub released the stats for all 50 states and Washington DC and ranked each by their current uninsured rate; Massachusetts is ranked highest with only 3.28% uninsured, and Texas is ranked last with 19.06%. In numbers, even the last-ranked […]
Tag: Affordable Care Act
Medicare: 50 Years and Counting
Medicare is turning 50 this week. In July 1965, President Johnson led Congress to create a federal health insurance program under the Social Security Act. Medicare covers people over 65 years old and younger people with certain disabilities or diseases. According to recent Yale University study, Americans on Medicare are spending less time in the hospital, living longer, and spending less on hospital visits as compared to 15 years ago. The Yale study focused on Medicare beneficiaries over 65 years of age between the years of 1999 and 2013 and the trends in mortality, hospitalizations, and expenditures in that time. […]
Medication Costs on the Rise
Last month, we posted a blog about how many Americans are spending more than $50,000 or even $100,000 a year on medications—more people than ever before. The information included insured Americans and found that insurance covered an average of 97% of prescription costs for those spending at least $50,000. At NeedyMeds, there are many assistance programs for those who are in need. However, even with new laws and regulations there are those stuck in between. There are patients in America that make too much money to qualify for assistance but still not enough to pay all their medical bills. […]
Affordable Care Act Helps Americans Ages 50-64
In the past five years since the passage of the Affordable Care Act (ACA), there have been strong supporters and fierce opponents. No matter what side of the ACA one falls, it’s hard to deny the positive results it has had in some people’s lives. Since 2013, uninsured rate dropped by 31% among Americans ages 50-64. Elderly Americans are among the most underserved populations in the country, and are at risk of struggling with poverty and disparity in health care. The ACA expanded access to health insurance coverage to 50- to 64-year-olds through several provisions, including expanding eligibility for […]
All About Medicaid
Here at NeedyMeds we regularly refer people to their state’s Medicaid program, and in today’s blog post we are going to explain exactly what Medicaid is and how it functions. Are you currently enrolled in Medicaid? Share your experience with us in the comments section. How is it Financed? Medicaid, sometimes called Medical Assistance, is a joint federal and state entitlement program for people with limited income that helps to pay for medical costs. It receives a combination of funding from both the state and federal government. The amount paid to each state by the federal government, also known as […]