Medicare And The Affordable Care Act - What You Need To Know

​Health insurance is one of the best insurance types that an individual can get. Many insurance policies are offered to help you if you need medical assistance. That is why the Medicare and Affordable Care Act is making and helping people with their medical needs.

What is Medicare?
The federal government offers this for older adults ages 56 and above. This may pay for your hospital needs, medical assistance, and medications. Depending on the level or part of our Medicare, it covers different medical services. 

What is the ACA or Affordable Care Act?
This is also known as Obamacare. Private health insurance companies usually offer insurance to supplement other services that Medicare needs. It improves and strengthens medicare services to enhance the quality of care for people. 

Many Americans are having difficulty during retirement or suffering from chronic diseases. The Affordable Care Act allows people to get insurance that meets the minimum standards. It helps widen the coverage that Medicare provides. The act also helps decrease prescription drug costs for Medicare beneficiaries.

Improvements to Medicare Through the Affordable Care Act
The Affordable Care Act mainly focuses on eliminating fraud, inefficiency, payment errors, and waste. Such as:

1. Eliminates Gap - 
   This is called a “doughnut hole” or gap in the coverage. Prescription drugs and medications are important for older adults who need help. It offers discounts on name-brand prescription drugs. 
   
   
2. Electronic Health Records - 
   Reduce errors and duplicates and provide access for beneficiaries. 
   
   
3. Reducing Annual Payments for Institutions -
   This helps reduce annual payments to hospitals, nursing homes, and insurance companies.
   
   
4. Eliminate Coinsurance - 
   It gives discounts on prevention services for cancer, diabetes, and cardiovascular diseases. You are eligible for the benefits if you have medicare and medicare advantage and your doctor agrees with it.
   
   
5. Bundling Payment - 
   Cuts costs and improves services that avoid separate bills from each provider and attempt to streamline the billing process. 

Conclusion
Medicare and Affordable Care Act or ACA helps you get better medical care without sacrificing your finances. As a beneficiary of this insurance, you can focus your finances on other important aspects of your life. Please take advantage of it and add more protection for you and your family.

At Lapeira & Associates LLC, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get insurance that fits your needs. You can get more information about our products and services by calling our agency at (855) 963-6900. Get your free quote today by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!