There remains great concern among seniors about how the new Health Reform Law will affect them, and it will be years before the true effect of the law among this group of citizens is known. However, some aspects of the law are clear, and the hope is that the overall positives will outweigh the negatives when all is said and done.
Among the negatives are broad cuts in projected Medicare payments to insurance plans, hospitals, nursing homes, and other service providers. Although many projections have been made, this is one area in which it is too early to evaluate the size of reductions or its effect. Another negative is that those seniors enrolled in private insurance plans under Medicare Advantage will likely face higher premiums and reduced benefits. Prior to passage of the new law, private insurers were subsidized by the government to manage Medicare programs on the government’s behalf. The government will begin lowering the subsidies to these private plans likely resulting in higher premiums to the insured. Also, although basic Medicare benefits will not be reduced, extras such as eyeglasses may be reduced or eliminated.
There are also significant benefits for seniors in the new health reform law. … Read More... “How the New Health Care Reform Will Affect Seniors”