The Affordable Care Act that was signed into law in March did more than keep Medicare alive for more baby boomers. It also made an historic investment to stop fraud from killing Medicare. Along with the Children’s Health Insurance Program and Medicaid, Medicare is being bolstered by a $350 million investment over 10 years to find and eliminate abuse, fraud and waste that threaten to derail these programs.
Seniors who were caught in the no-benefits “doughnut hole,” just one of Medicare’s disturbing coverage gaps, are getting money to help with prescription costs in 2010. By next year, those stuck in the doughnut hole will get a 50 percent discount on brand-name medicines. Medicare coverage for prescriptions will continue until 2020 when the doughnut hole will be eliminated all together.
In 2010, Medicare Supplement insurance was also bolstered with the new Medigap Plan M and Plan N. Both plans exchange specific amounts of co-insurance for lower premiums than certain previously-available Medigap plans.
To stay on top of all the changes in Medicare and Medicare Supplement insurance, watch the news on our MediGap Advisors site. As a national leader in providing Medicare supplemental plans, MediGap Advisors has years of experience with fixing the holes in your Medicare coverage. Just give them a call at 866-323-1441 to ask quick questions or even schedule a no-obligation consultation for professional help in analyzing where Medicare puts you at risk for high out-of-pocket costs. Their services are always free and confidential.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.