Our office continues to operate during our regular business hours, which are 8:30 am - 5:30 pm, Monday through Friday, but you can call the office 24 hours a day. We continue to follow all recommendations and requirements of the State of Emergency Stay at Home Order. Consultations are available via telephone or by video conference. The safety of our clients and employees is of the utmost importance and, therefore, in-person meetings are not available at this time except for emergencies or absolutely essential legal services.
Bankruptcy Lawyer Bryan W. Stone answers the question: “What are my alternatives to bankruptcy?”
Anyone who follows the news even a little bit has likely run across an article discussing either the merits or failings of the Affordable Care Act. Some blame the measure (also referred to as “Obamacare”) for rapidly rising health care costs. Others say the ACA should be heralded for bringing affordable health care coverage to millions of Americans. Though Republicans have now taken a concrete step to move closer to repealing and replacing the ACA, the Senate remains an obstacle and the fate of the Act is uncertain.
Bankruptcy Lawyer Bryan W. Stone answers the question “Do I need an attorney to file bankruptcy?”
One of leading causes of bankruptcy has long been medical debt. The high cost of healthcare in this country is widely understood and, should a medical emergency arise, it can be difficult if not impossible to recover financially. Though experts have long seen the connection between medical bills and bankruptcy, many were under the impression that the Affordable Care Act would lead to big changes, that by providing health insurance coverage to the uninsured, financial stress from medical expenses would be greatly reduced. Unfortunately for millions of Americans, that appears not to be the case.
Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What are my alternatives to bankruptcy ?”
As North Carolina continues to struggle with the issue of whether to opt in or opt out of the Affordable Care Act’s Medicaid expansion, economists at Columbia University are touting what they see as one of the expansion’s indirect benefits: a reduction in bankruptcies.
As is now well known, the Affordable Care Act—known in common parlance as Obamacare—gave states the option of expanding Medicaid coverage to low-income citizens.
As it turned out, the “option” was not really an option at all. It was a requirement. States were required to expand Medicaid eligibility to people whose incomes were less than 138-percent of the Federal Poverty Level. That amounts to an annual income of $19,530 for a family of three, by year-2013 standards.
A number of states took the word “option” seriously and opted out of the Medicaid expansion. They fought the Obama administration all the way to the United States Supreme Court. In 2012, the high court sided with states that viewed the term “option” as just that. States could opt out, the court ruled.
Officials in states that opted out worried that swelling Medicaid rolls would drain state coffers. The federal government has agreed to foot the bill for Medicaid expansion until 2016, with its share of the bill dropping to 90-percent thereafter.