More than two years after the Affordable Care Act (ACA) was signed into law, the conservative crusade against the bill continues. Perhaps the most common attack against the law is that it hurts America’s seniors, specifically by “cutting” or “slashing” $500 billion from Medicare. In reality, ACA’s savings do not have a negative impact on current benefits – and the controversial GOP plan authored by Rep. Paul Ryan (R-WI) actually retained almost all of the spending reductions in the law. ACA also reduces overpayments to Medicare Advantage, a private alternative to the federally run plan, and creates a Senate-confirmed board of experts to find future savings. Meanwhile, conservative critics fail to mention that ACA closes the prescription drug “donut hole,” provides free preventive services to millions of seniors, and extends the program’s solvency.
Affordable Care Act Closes The Prescription Drug “Donut Hole”
“Donut Hole” Is Gap In Drug Coverage For Annual Costs From $2,830-6,440. From CNNMoney: “What’s the donut hole? In addition to a $310 deductible, Medicare beneficiaries pay 25% of their drug costs until the total reaches $2,830 for the year. Then, they fall into a coverage gap. At that point, enrollees must pay all costs out of pocket until their annual expenses exceed $6,440. After that, seniors pay 5% of drug costs for the rest of the year.“ [CNNMoney, 6/7/10]Read more after the jump.