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Did You Hear The One About The Health Care Law And Your Florida Estate Plan? Part 1

By Howard C. Stross
March 30, 2012

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As a Florida estate planning attorney, one of the important elements of an estate plan is the preservation of one’s assets. The first line of defense is insurance. Unless you experienced a news black-out over the last couple of years, you have been bombarded with commentary about the controversial health care law that is now before the U. S. Supreme Court (“the Court”).

No medical insurance or inadequate coverage can financially devastate a person’s estate.

Many people have had to file for bankruptcy protection due to a major medical issue. In Florida business and estate planning, it is important for everyone to understand the significance and correlation between adequate health care insurance coverage and your financial well-being. That’s why as a business attorney and an estate planning attorney this post was written and will be continued next week as Part II.

The health care law before the U. S. Supreme Court now concerns whether the law is constitutional.

This post was written because the economics of health insurance is critical to your business plan and to your estate plan. To have a business or an estate plan, one must have certainty in the major elements of their plans, including health care insurance coverage.

Protection of one’s assets in an estate plan or a business plan is a topic that should always be discussed with your business attorney and your estate plan attorney and certainly your insurance professional.  (NOTE:  Stross Law Firm, P.A. does not sell healthcare insurance.]

If the Court rules in favor of the health care law, the decision will provide the authority for the federal government to redefine how medical care is delivered and paid for regarding virtually everyone in the United States.

If the Court rules against the health care law, the impact the ruling will have will depend on what the Court states is unconstitutional. The Court could overturn one part of the law, rule against more than one part of the law, deny the entire law, rule in its favor or put off ruling at all until the effective date of most of the law.

A ruling by the Court is expected in late June.

[Part II will be posted the first business week of April 2012.]

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