Is a Reverse Mortgage Right for You?

by Kristi Sullivan, CFP

Chances are high that when I mention the idea of a reverse mortgage to clients, I’ll be Reverse Mortgagemet with a very sour expression. I think this is because of the impression that these instruments are expensive and that you give up ownership of your home to use them.

Now I am no expert in these products, but for clients who have most of their net worth tied up in their homes, finding a way to use that equity to pay bills is a must.

Reverse Mortgage Basics

Here are some reverse mortgage basics:

  • Reverse mortgages are also known as home equity conversion mortgages (HECM) and are administered by the FHA.
  • You enter an arrangement with the lender to take money out of your home based on the amount of equity you have and your age.
  • You don’t have to have earned income to qualify.
  • You keep the ownership of your house until the last occupant dies or moves out.
  • You can receive the income from home equity in a variety of ways: For a specific time period, as a credit line to use as needed, or for your lifetime or the time that you or your spouse occupy the home.
  • When you pass away or move from the home, whatever equity is left after the debt and fees are paid will pass back to you (if living) or to your estate. (For related reading, see: How Does a Reverse Mortgage Work?)

An HECM is different than a home equity loan or line of credit. With a traditional home equity loan, you have to pay back the principal and interest over time. With a reverse mortgage, your house actually pays you.

Benefits of a Reverse Mortgage

Brainiacs who are way smarter than me have been modeling the use of a reverse mortgage in retirement planning. The numbers show that using home equity for income, especially when retirement investments are down, can lengthen the time your nest egg will last. Wade Pfau has been doing research on the use of reverse mortgages in retirement income plans and says there are two big benefits:

  1. Using a reverse mortgage early in retirement can reduce the stress of market volatility on the invested portfolio by allowing people to live off of their home equity rather than selling investments when values in their accounts are down.
  2. The second benefit is that opening a reverse mortgage now (especially with current low interest rates) can allow for the principal that you can borrow against to grow for a longer time.

Not everyone can get a reverse mortgage. You must be at least 62 years old, live in a single-family or two-to-four-unit home, and there is a limit to how much mortgage debt can be against the home at the time you apply for the HECM. (For related reading, see: The Reverse Mortgage: A Retirement Tool.)

This is not for everyone. Some downsides are:

  • The closing costs and fees on reverse mortgages are more expensive than conventional loans.
  • You may be tempted to spend your home equity on dumb stuff instead of using it prudently.
  • You still must have enough income or savings to maintain the home and pay property taxes and insurance.
  • There are people out there selling reverse mortgages who may not have your best interest at heart. Investigate and get several quotes before deciding on who to use for a reverse mortgage. (For related reading, see: Beware of These Reverse Mortgage Scams.)

If you are feeling your retirement income is too tight and you meet the eligibility requirements, using your home equity through a home equity conversion mortgage may be worth investigating.

Check out more from Wade Pfau in this Forbes article. For more information, you can also call National Council on Aging at (800) 510-0301.

This post originally appeared at Investopedia on March 3, 2017. 

Senate Delays Health Care Vote, But Our Work Is Not Done

On Friday we shared details about the Senate health care bill, and in the last few days there have been new developments. Senate-Delays-Health-Care-Vote-Post

First, the Congressional Budget Office (CBO) released its report on the Senate health care proposal and unfortunately the news is still alarming.The CBO estimates that under the Senate’s version of the Better Care Reconciliation Act (BCRA) 22 million Americans would be uninsured by 2026.

Second, the Senate changed their proposal and added additional provisions that would make it harder for people to get insurance. For example, the proposal now includes a requirement that if someone has a gap in health insurance coverage of more than 63 days, they would have to wait six months before they could purchase insurance.

Since last Thursday, many Senators and Governors have expressed a concern that the vote on BCRA was being rushed and shared their concerns with Senate Leadership. The proposal is also opposed by health care groups, professional associations, and many in the cancer community. Because of these concerns and opposition, Senate Leadership have postponed the vote, which will no longer happen this week.  However, a vote could be scheduled at any time so our work is not done.

It is vital to continue talking to your elected officials about how BCRA would impact you and your communities.  This week, Senators and Members of Congress will head home to their local districts. You can call their offices and ask to have a meeting (although keep in mind that their schedules may already be full), but if you are out celebrating the 4th of July and you see your elected officials in your community, don’t be afraid to talk to them!

Here are a few easy ways to make your voice heard, even if you aren’t able to see your elected officials in-person:

  1. Contact your U.S. Senators and share your health care concerns, by calling (844) 257-6227. Even if you’ve called before, please call again. Even if you know how your Senators will vote, please call to share your thoughts. To find your elected officials or learn more about becoming an advocate, visit our Advocacy resource page.
  2. Use social media. Our friends at Justice in Aging have created this wonderful social media kit. You can also find the Facebook and Twitter handles for the current members of Congress here.
  3. Contact your state Governors and express your concerns. They have a powerful voice in this process as well.

As always, stay tuned.  Will continue to provide updates as more information becomes available, about this issue that affects all of us.

U.S. Senate Proposes Health Care Changes

Another Step BackwardsYesterday, the U.S. Senate released the “Better Care Reconciliation Act (BCRA) of 2017,” containing their proposed changes to our health care system and the Patient Protection and Affordable Care Act (ACA). The language we have now is still being referred to as a ‘discussion draft,’ which means that it has not been officially introduced in the Senate. This bill would replace the text of the American Health Care Act (H.R. 1628), that was passed by the U.S. House of Representatives last month.  Additionally, this proposal has not been scored by the Congressional Budget Office (CBO), which is expected to release a score on Monday or Tuesday of next week.  That score will provide an estimated analysis of how much the bill will cost and how many people will lose coverage.

Senate Leadership are planning to hold a vote on this bill by the end of next week, leaving only a few days for the members of the Senate to review these proposed health care changes.  At this time, there is no plan to hold any committee hearings about this bill.

What’s Included

The bill is 142 pages long, so we are still working to digest its full ramifications, but we did want to highlight some things we know will have an impact on the cancer community.

              Consumer Protections

Certain consumer protections in the ACA remain unchanged by the BCRA, such as prohibiting health insurers from denying coverage or charging someone more for coverage based on a pre-existing condition, the ability for children under the age 26 to stay on their parent’s plan, and 90-day maximums for waiting periods for employer-sponsored plans.

However, other protections for people who have pre-existing conditions would be weakened. The BCRA sets up a system where states are incentivized with $2 billion to apply for a waiver. These waivers would give states the ability to redefine essential health benefits (EHB) and to change or reduce other coverage standards. This means that plans may no longer be required to cover services like prescription drugs, hospitalization, or mental health care.  Additionally, while current law prohibits insurance companies from placing annual or lifetime dollar limits on EHBs, they are allow to impose these limits on anything else.  So if, for example, a state chooses to not include prescription drugs as an EHB, plans could impose lifetime and annual limits on prescription drugs.

              Financial Assistance

Currently, there are two types of financial assistance options available to help people access plans sold through the ACA’s health insurance marketplaces: 1) premium tax credits, which lower monthly premiums based on income; 2) cost-sharing subsidies, sometimes referred to as cost-sharing reductions, which lower deductibles, co-payments, and co-insurance payments.

The way that cost-sharing subsides work is that the insurance company reduces what they charge individuals and in turn they are reimbursed by the federal government.  The BCRA would only keep the federal governments’ reimbursements back to the insurance companies for 2018 and 2019.  Eliminating these reimbursements for 2020 makes it more likely that insurance companies will pull out of state marketplaces, reducing choice for consumers and likely increasing costs for everyone.

The BCRA would also change the eligibility requirements for premium tax credits.  Currently, these credits are available to anyone purchasing a plan in the marketplaces who have a household income level between 138% and 400% of the federal poverty level (FPL).  In dollar amounts that is equal to an individual whose income is between $16,642 and $47,520. The BCRA is proposing cutting the tax credits so that they are only available to people with incomes up to 350% of the FPL ($42,210) starting in 2020.

In addition to having a low enough household income level, an individual must spend 9.5% of their income on health insurance premiums in order to get a tax credit. The BCRA is proposing that this amount be tiered based on age. For example, a 60-year-old with an income between 300 and 350% of the FPL would have to spend 16.2% of their household income on premiums before becoming eligible for a tax credit, while a 28-year-old would only have to pay 4.3%.

Current law also restricts insurance companies to only being able to charge older Americans up to three times more for their private health insurance. For example, a 64-year-old can only be charged a maximum of three times more than a 21-year-old in the same location. The BCRA is proposing to increase that age ratio to allow insurance companies to charge up to five times more for older Americans.

These changes would make it harder for everyone to purchase insurance in the marketplace, and would certainly impose a greater burden on older Americans.

              Individual and Employer Mandates

The BCRA would effectively eliminate the requirement for Americans to have health insurance by making the penalty $0.  It would also effectively eliminate the requirement for mid-sized and large employers to pay a penalty if they don’t provide health insurance to their employees, by making the penalty $0. The concern with these eliminations is that the money collected through the penalties help pay for some of the financial assistance people receive to purchase plans in the marketplaces.

              Medicaid

Under the ACA, states were given the opportunity to expand their Medicaid programs by adding a new category of eligibility for anyone with a household income under 138% of the FPL.  As part of this expansion the federal government would reimburse states for the costs of adding these newly eligible individuals to their Medicaid programs.  The BCRA would begin to reduce federal reimbursements at the end of 2020, over a three year period (from 2021 to 2023).  However, eight states have a ‘trigger clause,’ which means that if the federal funding falls below the rates promised in the ACA, the expansion in that state is eliminated immediately. The following states have a trigger clause: Arkansas, Illinois, Indiana, Michigan, Montana, New Hampshire, New Mexico, and Washington.

The BCRA is proposing significant cuts to the traditional Medicaid program, as well.  These cuts will unequivocally impact a substantial number of Americans:

  • Medicaid covers nearly 75 million people in the U.S., including children, people with disabilities, pregnant women, and seniors.
  • Approximately 25% of the U.S. population obtains health care coverage through Medicaid.
  • Medicaid covers 49% of all births in the U.S.
  • Medicaid covers 39% of all children and 76% of children in poverty.
  • The number of people on Medicaid in the U.S. is equivalent to the populations of these states combined: AK, HI, OR, NV, ID, UT, MT, WY, CO, NM, ND, SD, NE, KS, OK, MN, IA, AR, LA, MS, AL, KY, WV, SC, DE, CT, RI, NH, VT, and ME.

In addition to funding cuts, it would move the Medicaid program to a block grant system where states would receive a fixed amount of money per enrollee and if that money runs out during the year, states would have to decide whether to cut enrollment, cut coverage, raising taxes, or all three. This prior blog post provides some additional information about how block grants work.

The BCRA also proposes adding work requirements as a condition of receiving Medicaid. While work requirements may seem like a reasonable condition to gaining access to Medicaid, they may negatively impact certain populations. For example, individuals who are in cancer treatment and are unable to work, but don’t meet the very strict eligibility requirements for Social Security Disability benefits. The proposed language in the BCRA, does not provide a definition of disability, which further confuses the issue.

Next Steps

Shortly after release yesterday, four Republican U.S. Senators [Sens. Rand Paul (KY), Ted Cruz (TX), Ron Johnson (WI), and Mike Lee (UT)] announced their opposition to the bill, arguing that it should go further to repeal the ACA and further cut financial support for access to health insurance coverage.

In order for the bill to pass the Senate, the Republican Leadership need 51 votes in support.  There are 52 Republican Senators and 48 Democratic and Independent Senators. If there is a 50-50 tie, the tie can be broken by a vote from the Vice President of the United States, who is a Republican.

This suggests that in order to pass the bill, Senate leadership will need to make further changes.  However, making further cuts to our health care system may cause some moderate Republicans to pull their support for the bill. There are a number of Republican Senators who have expressed concerned over the cuts to Medicaid, such as Senator Shelley Moore Capito, who represents West Virginia, where 42% of all children in the state are covered by Medicaid.

Do You Need Health Insurance Now?

If you do not have health insurance coverage, you can apply for Medicaid at any time or purchase a policy through the State Health Insurance Marketplaces if you qualify for a special enrollment period.

  • For more information about how to choose a health insurance policy (including making choices between employer-sponsored options), watch our recorded webinar.
  • If you aren’t sure what your health insurance options are or want to understand more about health insurance, visit CancerFinances.org.

 What You Can Do

  • Contact your U.S. Senators and share your health care concerns, by calling (844) 257-6227. Even if you’ve called before, please call again. Even if you know how your Senators will vote, please call to share your thoughts.
  • To find your elected officials or learn more about becoming an advocate, visit our Advocacy resource page. You can also find the Facebook and Twitter handles for the current members of Congress here.

Stay tuned to our Blog and sign up for our newsletter, as we will continue to provide updates as more information becomes available, about this issue that affects all of us.

The Numbers Don’t Lie: The AHCA Will Cost Us

The Congressional Budget Office has released its “score” of the American Health Care The AHCA Will CostAct (AHCA) and the bottom line is that the AHCA will cost the cancer community greatly.

The Congressional Budget Office (CBO) is a non-partisan agency that is tasked with analyzing proposed legislation to determine its financial impact.  Most recently the CBO analyzed the House passed bill designed to make major changes to the Affordable Care Act (ACA). The CBO concluded that while the bill would reduce the overall federal deficit by $199 billion over a 10 year period, it would do so at the cost of Americans.

The biggest savings would come from cutting Medicaid, a programs that provides coverage to individuals with low incomes and disabilities.  The second largest cost savings would come from reducing the financial assistance that is currently available to many people who purchase individual health insurance through the ACA Marketplaces.

As a result of these changes, the report estimates that by 2026, 23 million Americans would be without health insurance. The CBO also notes that the AHCA could mean some Americans would buy policies that don’t cover “major medical risks.” The CBO doesn’t consider those individuals to be insured due to the policies’ inadequate coverage.

According to the CBO, under the AHCA “it would become more difficult for less healthy people (including people with preexisting medical conditions) in [some] states to purchase insurance because their premiums would continue to increase rapidly.”  Additionally, the AHCA would result in higher premiums for older, less healthy Americans.

Although none of this information is unexpected, the CBO report confirms our beliefs that the AHCA would undoubtedly harm the cancer community.  But remember the AHCA is not law yet! The Senate has to pass a bill, the two versions have to be reconciled, and then the President has to sign it into law.  So there is still time to act!

Contact your Senators, go to town halls being hosted by your elected officials, and educate yourself on how this law could really impact you.

Stay tuned to this blog as we will provide updates as more information becomes available.  Also, please join us on June 21, 2017 for a free webinar – An Update to Our Health Care System.  It is open to all and we are providing free CEUs for health care professionals. Register today!

Taking Time Off: How laws work together

Often the ways that federal laws, state laws, and employer policies work together are like puzzle pieces fitting together.  Except that everyone’s puzzle is going to look a little different, depending on which laws apply to you, which state you live in, and what benefits are offered by your employer.

When you are thinking about taking time off work, you may have multiple options or puzzle pieces available to you.  In fact, many patients ask us, “Can I use my sick time, then my vacation time, and then my FMLA, and then I also have a short-term disability policy at work. Can I string them all out to cover all the time that I need to be away from work because of my cancer treatment?” And the answer is, it depends.

First, the FMLA can work with paid leave options and disability insurance.

Family and Medical Leave Act (FMLA): the FMLA is a federal law that provides eligible employees with up to 12 weeks of unpaid, but job protected leave, per year. For more information about the FMLA, read Triage Cancer’s Quick Guide to the FMLA.

Paid Time Off (PTO): Your employer may give you vacation days, sick days, or maybe just a general bank of PTO hours for you to use for vacation or sick leave. If you are not familiar with what your employer offers, contact your human resources representative or review your employee manual.

Disability Insurance: If you have to take some time off because of a medical condition, or have determined you are unable to work at all, the next thing you have to understand, is how you might be able to replace your lost wages. That is where disability insurance comes into play. Disability insurance benefits can be purchased directly from a private insurance company, or can be offered by an employer, some state governments, or the federal government. Get more, customized information about disability insurance at http://cancerfinances.org, or check out Triage Cancer’s Quick Guide to Disability Insurance

Finding out if you have any or all these options available to you, is the first step in the process.  Figuring out how they can work together is the next step.

Case Study #1: Jane has 3 weeks of vacation, 3 weeks of sick time, her employer is covered by the FMLA, and her employer offers a short-term disability insurance policy that last up to 12 months.  Jane thinks that she will need to be out of work for 12 weeks. What are Jane’s options?
How laws work togther CS1

As shown in the picture above, Jane can use all of her benefits together, concurrently.  In fact, her employer can require her to substitute the unpaid leave under the FMLA, with any paid leave that she has (e.g., her sick time hours). But, if her employer doesn’t require her to do that, and she still wants to, her employer must allow her to:

  1. Take her 12 weeks off work under the FMLA, which provides her with job protection and maintains her health insurance
  2. For the first 3 weeks that she is off, she is paid by her vacation days
  3. For the next 3 weeks that she is off, she is paid by her sick time
  4. And, for the final 6 weeks, she is paid a portion of her salary by her short-term disability policy.

Using these benefits together allows Jane to maintain her income, while also protecting her job and access to health insurance coverage.

If Jane prefers to string out her sick time, vacation time, then use her FMLA and short-term disability benefits, she may be able to do that, but only if her employer allows her to. However, Jane should know that just taking sick time or vacation time, or receiving short-term disability benefits does not protect her job.  In this situation, it is the FMLA that is providing the job protection.

Second, the FMLA and the ADA can work together to give you access to time off from work because of your medical condition.

Americans with Disabilities (ADA): The ADA is a federal law that provides eligible employees with disabilities protection from discrimination in the workplace, as well as access to reasonable accommodations. Reasonable accommodations can be anything from modifications in schedule, workplace environment, use of technology, telecommuting, and more. Employers are required to accommodate eligible individuals. For more information about the ADA, read Triage Cancer’s Quick Guide to the ADA. For more information about reasonable accommodations, read Triage Cancer’s Quick Guide to Reasonable Accommodations. Note, the ADA only applies to private employers with 15 or more employees, as well as state or local governments. If you work for a smaller employer, you may be covered by your state’s fair employment law.

If you have used up your 12 weeks of FMLA leave during a 12 month period, you may be eligible for additional time off as a reasonable accommodation under the ADA. However, court cases have suggested that additional time off as a reasonable accommodation will only be considered reasonable if the request for additional leave is for a definite period of time. How long is considered reasonable will depend on your job responsibilities and your workplace.

Case Study #2: Mark has 3 weeks of vacation, 3 weeks of sick time, his employer is covered by the FMLA, and his employer offers a short-term disability insurance policy that last up to 12 months.  Mark thinks that he will need to be out of work for 15 weeks. What are Mark’s options?

How laws work togther CS2

As shown in the picture above, Mark can use all of his benefits together, concurrently.  If he wants to, his employer must allow him to:

  1. Take his 12 weeks off work under the FMLA, which provides him with job protection and maintains his health insurance
  2. Take the remaining 3 weeks off work as a reasonable accommodation under the ADA. which provides him with job protection
  3. For the first 3 weeks that he is off, he is paid by his vacation days
  4. For the next 3 weeks that he is off, he is paid by his sick time
  5. And, for the final 9 weeks, he is paid a portion of his salary by his short-term disability policy.

Using these benefits together allows Mark to maintain him income, while also protecting his job and access to health insurance coverage.

As you can see, there are lots of details to using these laws and benefits. It is crucial to learn about all of your options before making decisions about taking time off from work, to ensure that you are making educated decisions, and putting together the best puzzle for you.

Visit http://TriageCancer.org for additional cancer survivorship information and educational events.  

“Going Out on Disability”

When someone is faced with a cancer diagnosis and treatment, they often wonder “do I Going Out on Disabilityneed to go out on disability?”  Unfortunately, they aren’t always sure what that actually means, or that it could mean multiple things.

The main confusion comes from not understanding the difference between disability leave and disability insurance.

Generally, the term “disability leave” is used to refer to time off from work, taken by an employee due to a serious illness or injury. However, it is important for individuals to understand how they are taking that leave.  Employees may be able to take time off from work under the Family and Medical Leave Act (FMLA), which is a federal law that provides eligible employees with up to 12 weeks of unpaid, but job protected leave, per year.  (Triage Cancer’s Quick Guide to the FMLA).  Some employees may also be able to get some time off as a reasonable accommodation under the Americans with Disabilities Act (ADA), which is a federal law that provides protections for individuals with disabilities. (Triage Cancer’s Quick Guide to Reasonable Accommodations). Disability leave may also refer to time off from work because of an employee’s medical condition, which is allowed under a specific employer’s policy rather than required by law.

If an employee has to take some time off, or has determined they are unable to work at all, the next thing they have to understand, is how they might be able to replace their lost wages. That is where disability insurance comes into play. Disability insurance benefits can be purchased directly from a private insurance company, or can be offered by an employer, some state governments, or the federal government.

You may be able to purchase a private disability policy directly from an insurance company. Unfortunately, there are very few regulations around the sale of these policies, so companies are allowed to take into consideration pre-existing conditions and health status when determine whether to sell you a policy and what to charge. So, if you already have a pre-existing condition, it is difficult to get a private disability insurance plan. However, it doesn’t hurt to look into your options in your state.  You can visit http://triagecancer.org/stateresources to find your state’s insurance agency, which should share information about which companies sell policies in your state.

Many employers also offer disability insurance as a benefit of employment.  Employers may pay all or part of the premium. One example of an employer-sponsored disability insurance plan is Aflac, but there are many others. These group plans are guaranteed-issue, meaning that you cannot be denied, but you may face exclusions of coverage for pre-existing conditions. Contact your employer’s human resources representative or your employer’s insurance company for more information about your specific plan.

There are also a handful of states (CA, HI, NJ, NY, RI, and PR) that have state disability insurance programs. The details vary by state, but generally these programs are for short term disabilities (up to one year).

Finally, there are two federal disability insurance programs: Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).  Both programs are run by the Social Security Administration and are based on having a long term disability.

Get more, customized information about disability insurance at http://cancerfinances.org, or check out Triage Cancer’s Quick Guide to Disability Insurance

The bottom line, is instead of simply saying “I’m going out on disability,” it can help to be clear about if you mean disability leave or that you are receiving disability insurance benefits, or both!

Today Congress Voted to Take a Step Backwards

Today, the U.S. House of Representatives voted, by a two-vote margin, to pass the A Step BackwardsAmerican Health Care Act.  As we have talked about in prior posts, if signed, this law is a step backwards and would hurt millions of Americans.

It has the potential to effect people with pre-existing conditions like cancer, individuals who get their health insurance through an employer, people with disabilities or low incomes who receive care through Medicaid, and seniors receiving Medicare.

This bill was hastily thrown together and was passed without a score from the Congressional Budget Office, which means that Members of Congress don’t even know how much it is going to cost us.

For now, nothing has changed. The ACA Marketplaces are still open for business, Medicaid expansion still exists in the states that have expanded, and we still have the consumer rights afforded to us by the ACA.

Although this bill may appear to give people more choice when it comes to purchasing health insurance, it is important to remember that more choice doesn’t always mean better choice or more affordable choice. Lower cost plans that don’t provide adequate coverage for things like cancer treatment and mental health, will end up costing consumers more in the end.

It will likely be weeks before the Senate will consider the bill so now is the time to act. Contact your Senators, go to town halls being hosted by your elected officials, and educate yourself on how this law could really impact you.

Stay tuned to this blog as we will provide updates as more information becomes available.  Also, please join us on June 21, 2017 for a free webinar – An Update to Our Health Care System.  It is open to all and we are providing free CEUs for health care professionals.  Register today!

Latest Update on Changes to Our Health Care System – Our Worst Fears Realized

Our Worst Fears RealizedOnce again we find ourselves in the position of having to share some frightening news when it comes to health care system.  Last week, an amendment (referred to as the MacArthur Amendment) was proposed to the American Health Care Act (AHCA), the legislation designed to ‘repeal and replace’ the Patient Protection and Affordable Care Act (ACA). In the last few days there have been additional negotiations to try to secure enough votes in the House of Representatives to pass this legislation.  According to new reports a vote is expected on this new version any day now. To state it plainly, the MacArthur Amendment is our worst fears realized.

The MacArthur Amendment makes a bad bill worse, and would:

  • Result in more than 24 million people losing their health insurance coverage;
  • Eliminate the Medicaid expansion program and cut more than $800 billion from Medicaid over the next decade;
  • Decrease the solvency of the Medicare Trust Fund by four years;
  • Eliminate the critical premium tax credits which lower the monthly premiums of plans being sold in the Marketplace for people;
  • Eliminate public health funding by repealing the Prevention and Public Health Fund established by the ACA;
  • And possibly most significantly, the new proposal would allow states to opt out of consumer protections, which would allow insurance companies to:
  • Not cover Essential Health Benefits – this means that insurance companies could decide to no longer cover chemotherapy, prescription drugs, prevention services, or hospitalization.
  • Increase costs for older adults – currently older adults can only be charged up to 3 times more for their coverage. This bill wants to increase that ratio to allow insurance companies to charge up to 5 times more for their coverage. Read this fact sheet for more information about how this bill would hurt older adults.
  • Charge people with pre-existing conditions higher premiums – while those states would then have to create a high risk pool, coverage in high risk pools could cost more, be delayed, or even have enrollment limits. High risk pools are not a new idea. In fact, more than 35 states had high risk pools to try to help people with pre-existing conditions access health insurance coverage, before the ACA became law. While those high risk pools offered a lifeline for many people to get access to coverage when they couldn’t get it another way, they were not a solution to the problem. For example, in California, the state’s high risk pool only offered coverage up to $75,000 a year. Cancer care is often much more expensive than that, which left people to pay for their care out-of-pocket. Many of those state high risk pools had 6-month waiting periods for coverage if you had a pre-existing condition, wait lists due to state budget constraints, and very high deductibles and out-of-pocket costs. Kaiser Health News has a video describing why high risk pools may sound like a good idea, but have some challenges in reality.

The Kaiser Family Foundation has an excellent side-by-side comparison of the ACA and the AHCA and the potential changes to our health care system.

It is important to note that the current bill specifically exempts these changes from impacting Members of Congress, so that their coverage is not reduced or their costs are not increased by this legislation.

We hope that our elected officials will keep these issues in mind as they make their decisions over the next few days, weeks, and months on any changes to health care system.

What You Can Do

We will have to continue to wait and see what happens, but in the meantime, there is something that you can do.

  • Share your experience and concerns: Call or email your elected officials and share your health insurance concerns. To reach your U.S. Representative, you can call the US Capitol Switchboard at (202)-224-3121, and an operator will help to connect you. To find your elected officials or learn more about becoming an advocate, visit our Advocacy resources page. You can also find the Facebook and Twitter handles for the current members of Congress here.

Do You Need Health Insurance Now?

We also want to remind you that change is Washington is rarely swift and that we may not see changes for most of 2017.  That means that we have to continue to operate with the system we have for now and ensure that people who need coverage actually get it for 2017. If you do not have health insurance coverage, you can apply for Medicaid at any time or purchase a policy through the State Health Insurance Marketplaces if you qualify for a special enrollment period.

For more information about how to choose a health insurance policy (including making choices between employer-sponsored options), watch our recorded webinar.

If you aren’t sure what your health insurance options are or want to understand more about health insurance, visit CancerFinances.org.

Stay tuned to our Blog and sign up for our newsletter, as we will continue to provide updates as more information becomes available.

The Triage Cancer Conferences Are For You

Who should attend a Triage Cancer Conference?  In short, everyone in the cancer community.  We are coming to 3 different communities with a FREE program that has been designed for patients, survivors, caregivers, health care professionals, and advocates.  Whichever group you are part of, we will provide you with practical relevant information about navigating cancer survivorship, from the point of diagnosis, throughout life.

Where will we be in 2017?

What topics will we cover?

  • Cancer Survivorship: Advocacy & Being Empowered
  • Health Insurance: Understanding Your Options, Navigation, Prescription Drugs, and Appeals
  • Managing Finances & Accessing Financial Assistance Options
  • Taking Time Off Work & Disability Insurance
  • Returning to Work After a Cancer Diagnosis
  • Nutrition
  • Be Prepared: Estate Planning and Other Documents

The cost to register

$0.  Free.  Nothing.  And lunch will be provided free, too!

Are you traveling to the Conferences?

If you are a patient or survivor, we are pleased to offer travel assistance to those who would like to attend one of the 2017 Triage Cancer Conferences, but need help covering the cost of traveling to the Conferences. Travel assistance is limited and applications are reviewed as they are received or until funds run out, so we encourage you to apply as soon as possible.

Free Continuing Education Units

For oncology nurses and social workers, we are pleased to offer up to 6 contact hours absolutely free.  Our conferences have been approved though ONS and NASW, as well as the West Virginia Board of Social Work.  Again, the conferences cost nothing to attend, and offer you up to 6 contact hours free.

Still undecided?

Well, listen to what attendees of the 2016 Triage Cancer Conferences thought.

“I wish all patients could have this training.” – Attendee in Nashville

“Very good seminar! Enjoyed attending and hope that I can share these resources with other cancer patients!” – Attendee in Salt Lake City

“I would like to thank you so much for the very pleasant and informative conference. I am a 6 year cancer free survivor and I so wish that I had this information available to me when I was going through my cancer treatment. I came here today to try to get any resources I could pass on to others in order to help them through their cancer in any way I can. Please don’t stop doing what you are doing. You are so appreciated.” – Attendee in Philadelphia

Triage Cancer Conferences

We hope that we’ve made the case that attending a Triage Cancer Conference will be informative, valuable, and worthwhile.  And, we really hope to see you there!

For more information, please send an email to info@TriageCancer.org or visit the Triage Cancer Conference page on our website