Medicare and the ACA

Since 1965 when Medicare was first instituted to provide health coverage for people over the age of 65, it has become one of the most beloved programs in the United States. The basic plan has two parts, Part A, which covers hospitalization and Part B, which covers doctor’s services, therapists, home care and other care. Many seniors are wondering how the Affordable Care Act affects their Medicare coverage.

Medicare Supplement Plans

In addition to basic Medicare, a number of “Medigap” policies are available at additional cost to take care of expenses not covered. These offer a variety of different plans and must be chosen by you when you first sign up for Medicare. It is important that you take your own particular circumstances into account when choosing these policies. The first year of Medicare can be important for determining what additional coverage you will need throughout the year. Medicare supplement policies are standardized differently in different states.

  • Part C helps to pay deductibles not covered under the A      and B basic Medicare.
  • Part D Plan covers Part B deductibles and skilled      nursing care.
  • Part F Plan pays deductibles of both A and B and      foreign travel medical costs.
  • Part G Plan pays deductibles of Part A, excess charges      in Part B and skilled care.
  • Part K Plan pays for 50 percent of many uncovered      expenses of basic Medicare.
  • Part L Plan pays for 75 percent of many uncovered      expenses.
  • Part M Plan pays for 50 percent of Part A deductible.
  • Part N Plan pays for deductible expenses of Part A but  not Part B.

Medicare and the Affordable Care Act

Many seniors who are on Medicare are concerned about how the Affordable Care Act will affect their medical coverage. In fact, the ACA will help to strengthen Medicare for years to come. The Affordable Care Act helps to close the “donut hole” that previously existed for prescription drugs. This gap in Medicare coverage for certain seniors caused additional amounts in out-of-pocket expenses. The ACA allows senior with Medicare Part D prescription drug coverage to get a 50 percent discount when buying covered brand-name medications. The ACA allows additional preventative services like colonoscopies and mammograms without a deductible or coinsurance payment. The Affordable Care Act also provides more support for physicians to coordinate care services for patients. Seniors do not need to apply for ACA to get these additional benefits.

Hank Pomeranz

Hank Pomeranz is the co-owner of Medicarebenefits.com and has been writing about Medicare since 1998. Follow us on Twitter @medicareblog

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