| New year reveals changes in insurance for seniors |
| Tuesday, 04 January 2011 13:44 |
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Formerly, senior citizens encountered this gap in coverage once they and their insurer spent $2,800 on medications. Those who did not spend the $4,550 out-of-pocket maximum on drugs were required to foot the bill themselves. Under the ACA, the doughnut hole will gradually shrink over the next 10 years, as Medicare is expected to pay for 50 percent of the cost of brand-name medications. Seniors who are covered by this insurance plan will also be able to receive preventive services for free, including annual checkups."They will get a 5- to 10-year calendar of covered preventive tests from their physicians," said Medicare Rights Center president Joe Baker, quoted by U.S. News and World Report. "Because these items are 100 percent covered, you should make your doctor's appointment as soon as you can." These expected changes in insurance for seniors may mean less of a headache for many who worry about being able to afford their healthcare. Copyright © 2011 Medicare.org. All rights reserved. |
Many changes are occurring in the healthcare industry as a result of the Affordable Care Act (ACA), which was signed into law by President Barack Obama last March. One of the most prominent changes may result in the shrinking of the Medicare Part D doughnut hole, according to CNN Health.
