23rd, President Barack Obama signed into law the nation's most sweeping social
legislation in decades. After over a year of gruelling debate in Congress,
American consumers can now try and figure out how they will be affected by the
Patient Protection and Affordable Care Act ("the Act"). The uninsured are
clearly the biggest beneficiaries of the legislation, which will extend the
healthcare safety net for the lowest income Americans. For those who are
already covered by a large employer, representing most Americans, the effect
won't be as significant. According to the Congressional Budget Office, the
estimated cost of the overhaul is $938 billion over 10 years. The legislation
is meant to provide coverage for as many as 32 million uninsured Americans.
Major coverage expansion will begin in 2014.
The following is from a timeline of implementation dates produced by the Henry
J. Kaiser Family Foundation for when some of the key provisions of the Act will
take effect. Next week's Oast
& Hook News will cover the timeline for 2014 and 2015:
The attorneys at Oast & Hook,
P.C., are currently studying the Act in order to better incorporate its
provisions into estate and long-term care planning for clients to ensure
clients don't run out of money during retirement.
For more information on the Patient
Protection and Affordable Care Act and the Health Care and Education
Reconciliation Act of 2010, visit the following websites:
Oast & Hook, P.C.: www.oasthook.com
Henry J. Kaiser Family
U.S. Department of Health
and Human Services: www.healthreform.gov
Oast & Hook has been providing
quality legal services in Southeastern Virginia and North Carolina
for more than 80 years. The attorneys at Oast & Hook can assist clients
with their estate, financial, insurance, long-term care, veterans' benefits and
special needs planning issues. Visit their website at www.oasthook.com
for more information.
Sandra L. Smith joined the firm in
2003. She practices primarily in the areas of elder law, estate planning,
estate and trust administration, special needs planning, asset protection
planning, long-term care planning and Veterans' benefits. Ms. Smith is
certified as an Elder Law Attorney (CELA) by The National Elder Law Foundation
In 2008, Ms. Smith was named as a
Rising Star by Virginia Super Lawyers magazine. Rising Stars names the state's
top up-and-coming attorneys.