The Affordable Care Act and Medicare is a controversial subject because there are mixed accounts of how it will affect seniors. There are a lot of rumors about how it will actually take away benefits, however a White House press release states that it extends and adds benefits and services. Remember it’s important to speak directly to Medicare or Medicare Insurance agent to learn exactly how the changes impact you. We’ve compiled a list of 5 changes (one isn’t actually a change, but definitely worth noting).
The Affordable Care Act, as of 2011, provides preventive care at $0, without seniors having to meet a deductible, copayment, and cost-sharing. Prior to 2011, seniors were paying 20% of preventive services. Saving seniors, collectively, millions a year. As well as, studies show that preventive care prevents certain emergency and therefore ultimately saves us all money.
The donut hole is the gap in Medicare Part D coverage (AKA Prescription Drug Plans). As of 2011, a 50% discount will be applied to brand name drugs in the donut hole. The hole will finally be closed by 2020.
The Affordable Care Act has established national and state background checks for those who have contact with patients at nursing homes.
What this means is that the ACA has set an individual mandate for all persons under 65 to have insurance and therefore insurance companies must offer coverage regardless of preexisting conditions. However, Medigap is not required to accept anyone outside of the open enrollment period (or special enrollment period) with a previous condition except in a few Medigap guaranteed issuance states. This just means get Medigap when you are first eligible to reap the rewards of foreign health care, covering Medicare’s coinsurance and deductibles, and extras like gym memberships.
By investing in fighting waste, fraud, and abuse the ACA plans to reduce unnecessary hospital admissions and health facility acquired infections. The White House claims these precautions will extend the Medicare trust for 9 years.
For further questions about the ACA and Medicare call 800-930-7956 or contact Senior65.