Health care costs are a big concern for nearly everyone, including seniors and their families. The Affordable Care Act goes into effect in 2014, and may ease some of this pressure. It has many health care changes that will ultimately affect everyone. Some of the changes are positive, while others will present new challenges.
The following are some senior health care changes to note:
Medicare Eligibility and Coverage
Medicare is an important way of funding health care for seniors. It provides an essential form of security at the time of life when health care is most needed. Many seniors rely on Medicare to cover the costs of assisted living, and that is not expected to change in 2014. However, like everyone covered by any health plan, Medicare recipients are eligible for free preventive care, including an annual wellness visit.
Disappearing "Donut Hole"
Seniors covered by Medicare previously faced a common problem, in which they reached a point where their coverage for prescription drugs left them responsible for paying for part of the drugs out of pocket. Part of the Affordable Care Act that will affect seniors in 2014 is that the coverage gap, also called the "donut hole," is continuing to shrink. Seniors will receive a substantial discount on both brand name and generic drugs, which should make medication more affordable for most. However, higher-income Medicare recipients - those who earn over $85,000 a year, or $170,000 for couples - could pay more for prescriptions.
Protection for Pre-Existing Conditions
Pre-existing health conditions used to cause big problems for some of the people who needed health care the most, and insurers would routinely deny coverage for those dealing with long-term or chronic illness due to no fault of their own. One of the health care changes in the Affordable Care Act that goes into effect in 2014 is that insurance companies can no longer limit coverage to people with pre-existing conditions. So if your loved one is dealing with a long term illness such as Alzheimer's or diabetes, you no longer have to worry that their insurance provider can refuse coverage based on those grounds. That should provide a great deal of peace of mind.
No Coverage Limits
People who needed expensive care used to worry about how much their care cost because most health coverage plans had annual and lifetime maximum coverage limits. Thanks to a provision in the Affordable Care Act, as of January 1, 2014 there is no coverage limit. This is especially helpful in long term care situations.
When you're looking for health care for your senior loved ones, it can be challenging to navigate health insurance and Medicare issues. Contact us with any questions you have and we'll be happy to help you. Although some health care changes go into effect in 2014, you can rest assured about the fact that most seniors will see improvements in access and coverage. What concerns do you have about health care costs?
