The Affordable Care Act has been the topic of much discussion by many groups in the United States, including seniors. It is important to understand the act to know how the new health care system will work. There are many ways in which the Affordable Care Act will benefit the elderly.
Free Visits and Services
Those who are on Medicare will have access to myriad services and products at no cost. Screenings for cancer, diabetes and other chronic diseases, flu shots, and stop-smoking counseling are just a few of the services that require no payment from Medicare recipients.
Lower Premium Costs
The Medicare Part B Premium has reduced in cost as a result of the Affordable Care Act. Premiums have been lower than projected for 2 years already.
Improved Efficiency and Care Through Research
The Center for Medicare and Medicaid Innovation was created by the Affordable Care Act in order to research and assess current delivery of care in order to improve care quality.
Accountable Care Organizations are intended to be created to provide better care to patients.
Affordable Care Act Will Reduce Fraud
Increased penalties and greater law enforcement are in place, as a result of the Affordable Care Act, in order to diminish the amount of loss to Medicare and Medicaid as a result of fraud.
Greater Medicare Benefits
Thanks to the Affordable Care Act, many preventive services will become free to Medicare recipients and many drug costs will drop. The result will be a large amount of savings, approximately $4,200, over the next decade, for each Medicare recipient.
Improved Prescription Drug Coverage
Until the Affordable Care Act, seniors struggled to pay for medications due to a gap in coverage. The Affordable Care Act fixes that gap over a period of time. Additionally, the government is helping those affected by the gap until it is completely fixed by sending rebate checks and providing discounts on some drugs.
Medicare Advantage Plan Improvements
Under the Affordable Care Act, Medicare Advantage may not charge in excess of traditional Medicare costs for nursing home care, chemotherapy and many other necessary services. Additionally, the plan reduces the amount of money spent by Medicare Advantage on anything besides health care (i.e. administrative costs or profits).
Continued Existence of Medicare
Prior to the passage of the Affordable Care Act, the likelihood of Medicare continuing to exist was small. The Medicare Trust Fund was nearing bankruptcy. Now, thanks to provisions in the legislation that commit resources to the reduction of abuse of the system or waste of finances due to billing mistakes, now the Medicare Trust Fund can remain a viable source of funding for Medicare until, as projected by trustees, 2029.
Maintenance of Benefits
Absolutely no changes that would result in a reduction of benefits will take place. Medicare benefits will remain the same, avoiding any confusion or healthcare issues that could result from a change.