weekly blog--one for the ages
We ring in the year 2017 wrought with the threat of sweeping changes that could undermine the very fabric of American society. The hard fought Affordable Care Act will most likely be one of the first targets of the newly led Republican Congress. However, don’t be surprised if its replacement is simply a rebranded version of the one under attack, trading some of the negatives, like the tax penalty for not signing up, to something that sounds more positive, such as the Freedom of Choice Tax Exempt Rider.
Also at play is the well-studied phenomenon known as loss aversion where it feels worse to lose something than never to have had it in the first place. Thus, the more people who are insured (20 million+), the more likely they will object when this benefit stands to be lost. Further, the transformation of American health care that has occurred over the last eight years has a momentum that could prove impossible to stop, especially in its shift from individual fee-based services to one based on care coordination and performance.
4 Things To Know About Medicare and the Affordable Care Act (www.medicare.gov)
Medicare now covers certain preventive services, like mammograms or colonoscopies, without charging you for the Part B coinsurance or deductible. Also, you can get a free yearly wellness visit.
If you’re in the donut hole, you'll receive a 60% discount when buying Part D-covered brand-name prescription drugs. The discount is applied automatically at your pharmacy. The donut hole will be closed completely by 2020.
With new initiatives to support care coordination, your doctor may get additional resources to make sure that your treatments are consistent.
The life of the Medicare Trust fund will be extended to at least 2029—a 12-year extension due to reductions in waste, fraud and abuse, and Medicare costs, which will provide you with future savings on your premiums and coinsurance.