Though many will claim Obamacare, which is designed to cover non-Medicare beneficaries, does not have any effect on Medicare, such a statement would be false. There are many provisions in the Affordable Care Act that call for funding reductions in the Medicare payment system, including a provision, including the following:
* Medicare Funding Cuts of $457 Billion by 2020. Approximately 50% of cuts are proposed to come from Medicare providers in the form of reduced reimbursement rates. These cuts are expected to offset 30% of the cost of reform for those under 65. * Fewer Providers expected to be available
96% of Providers in US Accept Medicare
80% Accept New Medicare Patients (60% in Texas)
Medicare Enrollment Growing by 10,000 people per day
28% of New Medicare Recipients Has Trouble Finding A New Primary Care Doctor in 2012
30% Proposed Reimbursements Reductions will lead to even fewer doctors accepting Medicare
More Providers Opting-out of Medicare System (including the Mayo Clinic)
Fewer Doctors + More Patients = Longer Wait Times
* Medicare Advantage Funding Cuts
$135 Billion through 2019, including $7 Billion this year 2014,. This has already lead to tewer Plan Choices, Reduction in Benefits and Higher Premiums for many.
* Tax Increases
3.8% Additional Medicare Tax on High Earners
3.8% Tax Increase on Investment Income
2.3% New Tax on Medical Devices
$72 Billion in New Taxes to Insurance Companies These taxes that will eventually by passed on to consumers in form of higher prices! * Closing the Donut Hole
* 50% discount on brand name drugs
* 7% discount on generics
* Consumer Rebates for Reaching Gap
* By 2020, the Donut Hole will be replaced with 25% cost sharing on all medications
* 3.4 million Americans Will No Longer Fall in to the Donut Hole Each Year
* 27.5 million Americans that Never Reach the Donut Hole Will Pay More for Their Drugs
* More Free Preventative Care Services are now availablerventions for tobacco users
* Creation of Accountable Care Organizations and Independent Advisory Board
Accountable Care Organizations - places a degree of financial responsibility on the providers in hopes of improving care management and limiting unnecessary expenditures. ACOs that lower the cost of care for their members will by paid 50% of the cost savings generated by the Center for Medicare and Medicaid Services.
Independent Advisory Board – Goal of reducing the per capita rate when growth in Medicare spending exceeds targeted rate. Board will recommend changes that become a bill and sent to the President and Congress to pass. If not passed, Congress must provide a budget with equivalent funding cuts.
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* Medicare Funding Cuts of $457 Billion by 2020. Approximately 50% of cuts are proposed to come from Medicare providers in the form of reduced reimbursement rates. These cuts are expected to offset 30% of the cost of reform for those under 65.
* Fewer Providers expected to be available
96% of Providers in US Accept Medicare
80% Accept New Medicare Patients (60% in Texas)
Medicare Enrollment Growing by 10,000 people per day
28% of New Medicare Recipients Has Trouble Finding A New Primary Care Doctor in 2012
30% Proposed Reimbursements Reductions will lead to even fewer doctors accepting Medicare
More Providers Opting-out of Medicare System (including the Mayo Clinic)
Fewer Doctors + More Patients = Longer Wait Times
* Medicare Advantage Funding Cuts
$135 Billion through 2019, including $7 Billion this year 2014,. This has already lead to tewer Plan Choices, Reduction in Benefits and Higher Premiums for many.
* Tax Increases
3.8% Additional Medicare Tax on High Earners
3.8% Tax Increase on Investment Income
2.3% New Tax on Medical Devices
$72 Billion in New Taxes to Insurance Companies
These taxes that will eventually by passed on to consumers in form of higher prices!
* Closing the Donut Hole
* 50% discount on brand name drugs
* 7% discount on generics
* Consumer Rebates for Reaching Gap
* By 2020, the Donut Hole will be replaced with 25% cost sharing on all medications
* 3.4 million Americans Will No Longer Fall in to the Donut Hole Each Year
* 27.5 million Americans that Never Reach the Donut Hole Will Pay More for Their Drugs
* More Free Preventative Care Services are now availablerventions for tobacco users
* Creation of Accountable Care Organizations and Independent Advisory Board
Accountable Care Organizations - places a degree of financial responsibility on the providers in hopes of improving care management and limiting unnecessary expenditures. ACOs that lower the cost of care for their members will by paid 50% of the cost savings generated by the Center for Medicare and Medicaid Services.
Independent Advisory Board – Goal of reducing the per capita rate when growth in Medicare spending exceeds targeted rate. Board will recommend changes that become a bill and sent to the President and Congress to pass. If not passed, Congress must provide a budget with equivalent funding cuts.