Affordable Care Acts Effect on Medicare

With all the conversation regarding the Affordable Care Act and how it will affect health insurance coverage for millions of Americans, it is sometimes difficult to determine what changes (if any) will be seen for those receiving Medicare benefits. In fact, the upcoming changes are expected to save Medicare recipients quite a bit in out-of-pocket expenses.

The savings for Medicare recipients is expected to happen in several ways. First, preventive care services will now be offered to seniors, free of charge, saving potentially thousands of dollars per year and helping to detect any challenges as quickly as possible. Next, the cost of prescription medication will be significantly reduced under the Affordable Care Act. This change alone could save a Medicare recipient thousands of dollars, especially for those seniors who require several different prescriptions monthly or whose treatments are especially costly.

Next, the rates of increase for physician’s premiums (Medicare Part B) and for co-payments and co-insurance payments (Medicare Parts A & B) are expected to be much lower under the Affordable Care Act than it would traditionally be without the new law. Finally, under the new plan, Medicare is expected to operate much more efficiently, reducing waste, fraud and other abuses of this beneficial program. Savings from this type of waste is also expected to be passed on to Medicare beneficiaries as well.

The experienced professionals at Warrior Insurance would be happy to provide you a no-obligation consultation regarding your health insurance needs; contact them today!

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