Much like our "Quick Note" on SCOTUS And The Health Care Law, there's a lot more to what what the Affordable Care Act already does - and what it will do, once it's fully implemented - than what we can we can fit into a simple article. That said, we do have a simple summary of the benefits of the ACA - both present and future - below.
Closing the Medicare 'Donut hole' - meaning that seniors who are in the prescription drug coverage gap now get a 50% discount when buying Medicare Part D covered brand-name prescription drugs. By 2021, the donut hole will be closed completely.
Free Preventive Care for Seniors, including annual wellness visits (checkups) and preventative services for seniors who have Medicare.
Creation of an independent, private group, created to develop procedures that: extend the life of and viability of the Medicare system; target waste, fraud, and abuse; expand access to health care; and make it easier and less expensive for doctors to choose successful treatments for their patients.
Addressing Overpayments to Big Insurance Companies and Strengthening Medicare Advantage.
In 2012, more benefits and cost reduction efforts will be added:
Encouraging a move from 'Fee for service' - where doctors and insurance companies are paid more for more procedures - towards a 'Fee for outcome' based model, where doctors and insurance companies are paid more for higher quality, lower cost care.
Encouraging doctors, nurses, clinics, insurance companies, and drug companies to work together by forming “Accountable Care Organizations.”