The Affordable Care Act: Strengthening Medicare
September 16 2010
Since the passage of the Affordable Care Act in March, there has been a lot of speculation about how health care reform will affect seniors and Medicare.
The truth is health care reform will strengthen Medicare by stopping wasteful overpayments, cutting down on fraud and abuse, reducing out-of-pocket costs, and providing seniors with free preventative care visits.
According to a report issued by the Medicare trustees, the Affordable Care Act has extended the financial solvency of Medicare by over a decade.
Responding to the Report, AARP Executive Vice President Nancy LeaMond said the following in a statement:
"The Medicare Trustees' Report issued today contains some important good news. It finds the financial outlook for Medicare has been strengthened significantly as a result of legislative changes, increasing the solvency of the Trust Fund from 2017 until 2029. The report also demonstrates the importance of new tools included in the recent health care law that can increase the quality of care while helping individuals and Medicare save billions of dollars"
The Affordable Care Act further reinforces Medicare by adding significant new benefits for seniors, including subsidies for prescription drugs and free preventive care. In all, the Affordable Care Act will save seniors an estimated 200 dollars per year in premiums and more than 200 dollars each year in out-of-pocket costs.
Read more about how the new health care law strengthens Medicare at Healthcare.gov.
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"Under new plans, no child under age 19 will be denied coverage for a pre-existing conditions, period. Adults who have been without insurance for six months and who have been unable to obtain insurance because of a pre-existing condition, can apply for coverage under the Pre-Existing Condition Insurance Plan (PCIP)."
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Insurers can no longer cut someone after the fact.
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New screening procedures are now in place for health care providers to eliminate fraud and waste in the health care system.
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Medicare Part D enrollees who hit the Medicare prescription drug benefit gap in 2010 will automatically receive a $250 rebate check.
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Effective immediately, qualified small employers get tax credits of up to 35% of premiums for offering coverage.
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America's new health care law makes it easier for you to find the quality, affordable health care that you and your family need.
