What ACA Elimination Means for Patients with Pre-Existing Conditions and How Medical Loan Financing Can Help

With the individual mandate penalty was eliminated in 2017, the constitutionality of the entire Affordable Care Act (ACA) is being called into question.

The district court of Texas is under fire for striking down the ACA in its entirety. Texas legislators claim that the ACA is unconstitutional now that the individual mandate is gone.

A win for the state of Texas could mean a total upheaval of the current healthcare economy. At the very least, it will mean that patients with pre-existing conditions will lose their right to insurance currently protected under the ACA.

Want to know how medical loan financing can help your practice prepare for changing healthcare legislation? Keep reading for the answer to that and more.

What a Texas Win Could Mean for Patients with Pre-Existing Conditions

With the individual mandate already eliminated, a win for Texas would mean the complete elimination of the ACA. More importantly, it means payers will no longer be required to sell policies to patients with pre-existing conditions.

A 2018 Commonwealth Fund study found that ACA elimination would require people with pre-existing conditions to pay higher out-of-pocket costs. The study claims that cancer or diabetes costs would triple. Arthritis, asthma, and hypertension out-of-pocket responsibilities would increase by at least 11%.

Worse, these patients’ spending wouldn’t count toward the yearly deductible or the out-of-pocket max. This means the patient would have to spend even more on non-excluded care before payers would chip in.

How Medical Loan Financing Can Help

If the ACA is eliminated, patients with pre-existing conditions will be searching for alternative ways to pay their increased out-of-pocket costs. Make sure to prepare your practice for change with a patient financing program.

Medical loan financing programs assist patients who can’t afford to pay in one lump sum. All patients are approved for a loan and make payments that suit their unique budget. Best of all, the lender pays you upfront and in full for your services.

Want to learn more about how patient lending can help your practice? Learn more about our products or get in touch with us to start using our program today.