Obama Health Care: Good News for Medicare According to President

Now that Obama health care is law, many individuals have been concerned about the affects on Medicare, particularly those who are approaching or who are already of the age where they will receive benefits.  Recently, the President claimed that seniors are already benefiting and that Medicare is on stronger financial footing due to the implementation of the Obama health care law.

According to the President, “Reform has actually added at least a dozen years to the solvency of Medicare, the single longest extension in history.”  Costs to seniors for health care have been cut, and  efforts by the administration to halt fraud, abuse and waste in Medicare have made the program stronger and more stable.  Obama health care, according to some, will help Medicare stay afloat for many years longer than previously expected; this data was reported recently in the annual report of the trustees who oversee Medicare.  Previously it was believed that Medicare would run short on money in 2017, but now it is believed that the program will be financially sound until around 2029.

As Obama health care ramps up the efforts in the years to come, the President says that seniors will save about $200 annually in premiums and about the same amount of money in out-of-pocket expenses.  While the future of Medicare is uncertain, seniors will be provided financial aid for prescription drugs and free preventative care according to the President, who also says that Obama health care will provide new authority that allows the government to review rate increases in insurance companies, and reject those they feel are unreasonable.

The extended life of Medicare hospital insurance was credited to the fact that with the passage of Obama health care, there will be a dramatic gain due to significant health care savings in the years to come.  While this all sounds like very positive news for seniors, officials caution that time will tell if significant savings are realized in the health care industry.

Mark South
Obama Health Care

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