Demystifying "ObamaCare"

With uncertainties surrounding the health care reform bill and with the Medicare Annual Enrollment date approaching November 15th, you might feel like you have more questions than answers. Until a health care reform bill is passed, it is uncertain how the final product will affect Medicare, but here’s what we do know:

• The Future of Medicare Advantage
  
  Don’t be overwhelmed by some of the proposals to reduce Medicare Advantage reimbursements. While there may be changes to MA plans down the road, the 1997 Balanced Budget Act includes a provision assuring Medicare beneficiaries a smooth and uninterrupted transition in their healthcare coverage should Congress mandate any program changes in the future.
  
  
  
• Separate Fact from Rumor
  
  Many senior citizens have been deeply upset set regarding the end-of-life counseling proposed as part of the Obama health care reform. This voluntary counseling has proved extremely controversial and may not be part of a final reform package. Currently there is no legislation to make the end-of-life counseling mandatory and seniors are increasingly making their opinions on the subject known to their elected representatives.
  
  
  
• Decreasing the “Doughnut Hole”
  
  The “Doughnut Hole” is reached when the full retail cost of covered medication purchased for a Medicare beneficiary exceeds $2,700 during one year. At this point, beneficiaries are forced to pay 100% of drug costs during this calendar year until they have surpassed $4,350 in covered out-of-pocket drug expenses or a new calendar year begins. Some health care reform proposals would gradually close the gap of this “doughnut hole” with a 50 percent price cut for brand-name drugs if a Medicare patient reaches the donut hole in coverage.
  
  
  
• A Focus on Preventative Care
  
  The proposals by Senator Max Baucus and others call for expanded preventative care benefits, including a free annual wellness visit for Medicare recipients. As stated in The Wall Street Journal article “Q&A: How Baucus’s Health Bill Would Impact Consumers”, Medicare beneficiaries also would not pay out-of-pocket fees for recommended services. Some proponents of health care reform have suggested instating a new Medicare commission that would control costs, but rest assured – they would not be allowed to change eligibility or benefits.
  
  
  

It is hard to say what will be in the final bill, but for now the best thing you can do is stay informed and let your representative know what your opinions are.

This article, was written by Jenny Rose of PlanPrescriber at 800-819-6906