Q Life Settlements Blog

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November 16, 2020

What Will Happen to Health Care in the Next Four Years?

If you currently use Medicare or Medicaid, there is likely to be no significant change. Both major Parties have focused more on health care for those not in those programs, however, in general, the Republican party favors reducing the costs of Medicare and the Democratic Party favors maintaining or improving the programs. For a detailed article on this topic, see this article.

For those not in either the Medicare or Medicaid programs, if split government prevails, as seems to be the most likely scenario, one can assume that few changes will happen but that the legal challenges to the Affordable Care Act (Obamacare) will cease.  With the Trump Administration never offering a replacement health care act, the protection for those with preexisting conditions will continue to be upheld by the ACA. The one remaining uncertainty is whether the Supreme Court will invalidate the ACA, in a case currently being argued before the Court. If the Court were to strike down the Affordable Care Act, look for Congress to pass some watered-down replacement health plan that would protect pre-existing conditions, but the result is unpredictable. It would also be possible that no replacement plan would be passed.

The Biden plan for health care is here. The major planks are: Give every American access to affordable health insurance, Provide affordable, quality health care, and a less complex health care system, Stand up to abuse of power by prescription drug corporations, and ensure health care is a right for all, not a privilege for just a few.

Those general goals are probably shared by most Americans but the details can become very difficult to implement. However, with a divided government making any changes will be quite difficult. If you are struggling to cover your current healthcare costs, perhaps you can tap into the value in your life insurance policy by selling the policy. If you are 75+ (or 65+ with significant health issues) and have a whole life, term life or universal life policy, and you would like to stop paying for that policy and instead get paid for it, please contact us, and we’ll be in touch with you to answer your questions. Get a free, no obligation policy value estimate with our life settlement calculator.

You can also call Q Life Settlements at 866-679-9410, make an appointment, or email us info@qlifesettlements.com to discuss your situation. Our team is available and ready to explain to you all that you would want to know about life settlements. Q Life Settlements works with licensed life settlement and viatical settlement providers to get you the best offer for your term life insurance policy.

Remember: Never abandon a life insurance policy without looking at the life settlement option first!

Author:

Steven Shapiro is the founder of the Company and also the President and CEO of Q Capital Strategies, LLC and Life Settlement Solutions LLC. Steven has been active in the life settlement industry for the last 18 years. In addition to his life settlement experience, Steven has expertise in strategic consulting, investment banking advisory services, and private equity investing. Steven holds a B.A. degree in economics from the University of Pennsylvania and an M.B.A. in finance and entrepreneurial management from The Wharton School of the University of Pennsylvania. Steven is also the immediate past Chair of LISA (having previously served as Chair), the Life Insurance Settlement Association, the oldest and largest trade organization in the life settlement industry.

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