Rewards of Caring for the Elderly According to the Low-Cost Healthcare Act: Ripping Common Myths

Rewards of Caring for the Elderly According to the Low-Cost Healthcare Act: Ripping Common Myths

If there is an almost universal truth about Obamacare, the Low Price Healthcare Act (ACA) is that there is a lot of wrong information about it, and most people really don’t understand what it is doing for them. Today we will take the time to specifically dispel some stubborn myths about how ACA will affect elderly Medicare beneficiaries.

Myth: Medicare beneficiaries should now buy additional insurance

There is a lot of language at ACA and there is talk of how many people will need to buy new health insurance, but if you are already receiving Medicare, it will be insured. Medicare (and Medicare Advantage plans) already qualify for all new ACA rules; therefore, you do not have to do anything other than reap the rewards of the new law.

Myth: Medicare Beneficiaries Must Change Doctors

This is best described as “possibly partially true in a way” in reality. The contract is as follows: Medicare payments to insurance companies with Medicare Part C customers are declining. Therefore, insurance companies are trying to find a way to absorb this decrease in revenue. One of the ways you can choose to do this is to reduce your networks, which may mean that some recipients will find that their doctor has recently been removed from their insurance firm’s network. This means they need to change doctors. This is not due to something that ACA does legally, but it is a possible indirect result of changes that ACA is making to the payment structure.

Myth: Medicare premiums are rising due to ACA

Make no mistake: Medicare premiums are rising. But it’s not because of ACA. They go up every year according to the same algorithm. The net effect of ACA on these awards is that they increase more slowly than they would otherwise have done; so ACA is really a direct reward for those who need to pay Medicare premiums.

Myth: Quality of care will be reduced according to ACA law

In fact, the exact opposite is happening. Remember when we said now that Medicare payments to insurance companies are decreasing? Well, they are not falling far for insurance companies that offer superior insurance. In other words, insurance companies do have a financial incentive to provide better care than basic Medicare standards (for the first time). Therefore, the quality of care is oriented upwards, not downwards.

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