Introduction
Medicare is a nationwide social insurance program that is administered by United States federal government ever since 1966. This social insurance program guarantees the access to health insurance for the American citizens above 65 years and younger individuals with disabilities. It also guarantees the access to the health care to individuals with end stage renal disease and Amyotrophic lateral sclerosis. It spreads financial risk associated with the illnesses across the society to protect everybody (Kronenfeld 2011). In fact, it has seen suggested changes with Affordable Healthcare Act.
The Affordable Care Act creates health insurance exchanges or market places where individuals and families can buy private health insurance. With the Medicare new attempts to decrease the costs, many Americans now without insurance will be qualified for the assistance with the health insurance premiums they have, capping their expenses at 2to 10% of their domestic income. American citizens will not be required to take part in exchanges. In addition, Americans who are in donut hole will get a 50 percent when purchasing part D-covered brand-name prescription drugs. Moreover, Americans will receive additional preventive services for less. It now covers particular preventive services like colonoscopies or mammograms, without charging for Part B deductible or coinsurance. What’s more, people will get free annually “wellness visit (Miller 2013).”
The above-described changes will come with some effects. The Americans will save money on the medicine. Donut hole is actually shrinking. In every year until 2020, the percentage Americans pay the donut hole in coverage will decrease. It is anticipated that by 2020, this hole will be gone. At that point, people will pay 25 percent for all the prescriptions and this will not matter whether someone is purchasing generic drugs or brand name. In addition, many Americans will acquire extra preventive services without spending more.
References
Miller, D. A. (2013). Medicare. Detroit: Greenhaven Press.
Kronenfeld, J. J. (2011). Medicare. Santa Barbara, Calif: Greenwood.
