It was on July 30, 1965 that President Lyndon Johnson signed the Medicare Law, and Medicare has been part of the healthcare insurance system in the United States since then. Today, after the period of almost five decades, Medicare has become the (almost) ideal path for citizens over the age of 65 and younger people who are disabled.
Recently, the Affordable Care Act, commonly known as Obamacare has appeared in the US health insurance system, and because of this change, a number of people are worried about the consequences they will have to face; especially the people who already have Medicare insurance.
Here is a comparison on what Obamacare is and how it will affect Medicare.
Who Should Apply For Obamacare?
The Affordable Care Act or Obamacare is part of the Health Insurance Marketplace, which came into being because of this act. This means that Medicare does not come under this system, which eventually indicates that it is not necessary to replace Medicare coverage with the Health Insurance Marketplace coverage.
It does not matter whether you have Medicare through the Medicare Advantage Plan or Original Medicare, you will be able to make use of all the security and benefits that you had previously. It is not necessary for one to change this type of coverage during Open Enrolment.
Effects of Obamacare on Medicare
The Affordable Care Act actually prolongs the life of coverage by Medicare by about twelve years up to 2029. It basically works based on intricate money saving practices. These practices have a direct impact on the way hospitals are paid and additional security measures, such as stricter penalties against fraud, have also been implemented, which results in further savings.
Coverage of More Preventive Services
The Affordable Care Act makes Medicare beneficiaries applicable to a number of preventive services like a colonoscopy, angiogram, or mammogram without additional charges of Part B deductible. This also makes all beneficiaries applicable for a free of cost Wellness Visit once every year.
Drug Coverage (Part D)
The Obamacare or the Affordable Care Act makes beneficiaries applicable to a 50% over the counter discount on the drugs that come under Part D prescription drugs.
A Smooth System of Healthcare Deliverance
The best form of healthcare is given, if there is a smooth coordination between the healthcare provider, doctor and the hospital, who will work collectively to give patients the best available care. Patients who are chronically ill require proactive attention and care, and these new guidelines promote care coordination. The chances of medical errors and duplication of services is greatly reduced.
The Jordan Insurance Agency is the brainchild of Billy Jordan, who went through a great deal of frustrations when his mother was suffering from Stage 4 cancer. This Agency gradually grew with the passion of giving people access to the best possible health insurance coverage according to the budget. Blue Cross Blue Shield of North Carolina, Assurant Health, United Health One, and Coventry One are a few of the companies TJIA deals their contracts with. Feel free to call us today (704) 926-7565 or (800) 648-3870 and get your free quote from here!