You may be wondering how ObamaCare affected Medicare. There is plenty of misinformation out there and many seniors are misinformed. I hope to set the record straight here and clarify any confusion you may have.
In short, ObamaCare does not affect Medicare directly at all. If you have Medicare or are new to Medicare you do not have to worry about ObamaCare. You do not need to buy an ObamaCare plan if you have Medicare nor is it legal to do so. You can completely ignore any concerns you have about how ObamaCare affects people on Medicare.
Clearing Up The Myths
ObamaCare replaces Medicare: Myth. ObamaCare does not replace Medicare or Medicare Advantage. It did reform wasteful spending and other issues that were affecting seniors.
Medicare Premiums Will Raise: This is a myth. Medicare premiums are set to rise over time. Obamacare did not have anything to do with this.
ObamaCare Changes Medicare Benefits: True. ObamaCare added more preventative services to Medicare. Services like mammograms and colonoscopies can now be done without being subject to the Part B deductible.
To Comply Everyone Must Buy A ObamaCare Plan: Myth. Seniors with Medicare do not have to purchase any other type of health insurance. Medicare is recognized as having a plan that is in compliance, so you do not need to worry about paying a fine for not having an ACA plan.
Part D Drug Plans And ObamaCare
ObamaCare closes the gap on the Part D donut hole. The gap isn’t completely closed until 2020, but each year the percentage you page for brand name and generic drugs decreases until the percentage seniors pay are 25% for brand name and generic drugs in 2020.
Medicare Supplement Plans And ObamaCare
“Didn’t ObamaCare get rid of all of those pre-existing conditions?” Yes and No.
ObamaCare eliminated the ability for anyone to get declined for health insurance who is UNDER 65 or not eligible for Medicare. If you currently already have a Medicare supplement plan and want to change to a different plan like Plan G you can but you still have to answer the health questions to get approved with the new carrier. If you are new to Medicare, whether coming from a group plan or turning 65 you DO NOT have to answer any health questions. You are in open enrollment or a guarantee issue scenario.
Alex Wender is the founder and CEO of Bluewave Insurance. He has been blogging about Medicare-related topics since 2010. Since then, he and his agency have helped thousands of people across the country choose the right Medicare to fit their needs.