ObamaCare, Medicare, and You

There is a lot of information out there about the changes that ObamaCare is going to make to the Medicare program. The problem I've found, though, is that there is too much opinion and there aren't enough facts. This person thinks it's a horrible plan, that person says Medicare will be useless, another says that ObamaCare will save us millions. It's all hard to follow. I took it upon myself to take a look at the situation and figure out what you really need to know about these issues because soon, they're going to be a part of your life.

According to an article I read on ThinkProgress, the ObamaCare plan has already saved seniors more than $5 billion on prescription medications. This is largely because the President's plan for healthcare coverage closed the infamous 'donut hole' that was a big issue with Medicare prescription drug coverage. We can get cheaper medications. That's definitely a good thing. What about the rest of the changes, though? Since this is all an ongoing project and it's not going to be fully implemented for another 10 years or so, it's hard to keep up. Here are some notable points to keep in mind:

-It appears that this plan can help hold premiums for Medicare enrollees, and may potentially lower them in some cases.

-Medicare taxes are increasing, which means there is more money for the reform of the program so that improvements can be made.

-The coverage that we get with Medicare expands, allowing seniors to get things like wellness care, preventive screenings, and more.

-The program reigns in the Medicare Advantage industry, stopping private insurers from gouging us for the high prices of their coverage.

As far as I can tell, it seems like it's all going to work in our favor. Of course, there are a lot of opinions out there and you really need to take the time to get the facts and see what you can learn. I've been in the health industry for years and I've been waiting to see a lot of these improvements to the Medicare program and public health system, so I'm glad to see that so far, they're going well.

If you're struggling to understand how this affects you or what you can gain from the changes, you should talk to your financial advisor, insurance agent, or Medicare representative so that you can get the facts.