How Will Health Care Reform Affect Medicare?

Author: teresa willett
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How Will Health Care Reform Affect Medicare?

 

How Will Health Care Reform Affect Medicare?

This is a question that's heavy on the minds of those who rely on Medicare coverage for their medical needs. People often think of prescription drugs when they think of Medicare, but it covers so much more than medicine. Some people don't even opt into the prescription drug plan and instead use the coverage for things like diabetes testing supplies; canes, walkers, wheelchairs and mobility scooters; adjustable beds and lift chairs; doctor expenses and hospitalization costs including testing and diagnosis; and other equipment and supplies such as lift chairs covered by Medicare.

 

Sweeping changes across Medicare will affect how the coverage works and how much it costs over the coming decade. And while many people are aware of this, they're not sure about the specific changes. Because health care reform is in its infancy, there are some future changes that will be required to meet budget cuts that haven't even been conceived yet. But there are some changes that have been confirmed as part of the widespread reform that will affect Medicare.

 

Will My Benefits Be Cut?

The good news is that most of the sweeping cuts-it's estimated that Medicare and other federal programs will have their belts tightened to the tune of about $450 million dollars-won't affect your Medicare plan in any way that you can see. The doctors that treat you might notice the changes because they won't be able to bill for the same amounts, but your general benefits won't change. The only actual benefit cuts within the program aren't in Medicare, but a subset of Medicare known as Medicare Advantage which offers extra insurance and coverage over basic Medicare. People on this plan should actually see a rate freeze but other specific changes haven't been outlined yet. Those on Medicare will even get an extra benefit starting next year. People already get a free check-up when they join, but the plan will begin paying for an annual wellness check-up in the hopes of preventing many illnesses and problems.

 

The Biggest Change

The biggest change the government talks about when discussing Medicare and health care reform is the change to the prescription drug program. While it might not be the biggest change overall, it's the one that the insured, rather than the physicians and hospitals, will be most likely to notice. Right now, those with prescription drug coverage are at risk of falling into Medicare's donut hole. This is a coverage gap that goes into effect once a person's drug costs reach $2,700 in a year. After that amount, the person is responsible for the cost of all their drugs until their annual total hits $6,154. That means that people with high costs for drugs have to pay almost $3,500 out of pocket in addition to their original premiums, deductible and co-pays.

 

Health care reform includes a plan to remove this gap by the year 2020 and provide coverage for 75% of drug costs, with some measures already being taken. Checks for $250 each are going out to people who fall into that gap this year, and next year there will be discounts on drugs for those who hit those numbers. Prescription drugs will be discounted by half, and generic drugs will drop by 7% to help those in the hole.

Understanding how health care reform will affect your Medicare benefits over the coming years can help ease your worries about the plan. Whether you need a lift chair, an operation or ongoing prescription drug coverage, Medicare will still benefit you and hopefully even become more efficient and helpful after the coming changes.

 

 

 

 

Article Source: http://www.articlesbase.com/medicine-articles/how-will-health-care-reform-affect-medicare-2857370.html

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