Monday, January 27, 2014

Obamacare Death Debt: States can Seize your Assets to recoup Medicaid Costs

Tom Gialanella, 56, was shocked to find out he qualified for Medicaid under ObamaCare. The Bothell, Wash., resident had been able to retire early years ago, owns his home outright in a pricey Seattle suburb and is living off his investments. 
He wanted no part of the government's so-called free health care. "It's supposed to be a safety net program. It's not supposed to be for someone who has assets who can pay the bill," he said. 
And after reading the fine print, Gialanella had another reason to flee Medicaid -- the potential death debt.
Though many may not realize it, states are allowed to recover the cost of health care after someone's death by seizing their assets. It applies to Medicaid recipients who are between the ages of 55 and 64. The law has been in place since 1993, when Congress realized states were going broke over rising Medicaid expenses. 
But under ObamaCare, Medicaid eligibility has expanded dramatically along with the promise that the federal government will pick up the cost of the higher tab -- at least for the first few years, after which states will be on the hook for a portion of the increase. 
Millions more are entering the system, perhaps without knowing that their assets could be at risk.
Read the rest of the story HERE and view a related video below:



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1 comment:

BOSMAN said...

With Obamacare if they don't get you coming, they'll GET YOU GOING:

"Though many may not realize it, states are allowed to recover the cost of health care after someone's death by seizing their assets. It applies to Medicaid recipients who are between the ages of 55 and 64...."

"Millions more are entering the system, perhaps without knowing that their assets could be at risk."....
BINGO!