Affordable Care Act for Seniors Over 70

Although it has been in place since the end of 2010, the Affordable Care Act is still evolving and seniors have many questions about how it affects their lives.

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What is the Affordable Care Act?

Also known as “Obamacare”, the Affordable Care Act (ACA) is an overhaul of the health care insurance system in the United States designed to bring affordable coverage to the 45 million people who currently do not have insurance. In addition to revamping the insurance system, the ACA also included an increase in coverage for Medicaid which is designed to offer insurance to the working poor in the country.

How does the Affordable Care Act Work for Seniors over 70?

The Affordable Care Act for seniors over 70 years old affects them in an indirect way. Specifically, Medicare is the primary insurance for seniors who have reached the age of 65 and Medicaid is designed to help cover those whose income is below a pre-determined amount.

This means that you will not see any direct results of the Affordable Care Act elderly patients who need medical, prescription medication, or other health insurance coverage. However, there are some benefits that the ACA provides for seniors.

  • Strengthens Fraud Protection for Medicare
  • Safeguards the Medicare Trust Fund
  • Stronger Preventative Care for Seniors without Co-Pay
  • Medicare Benefits Remain Untouched
  • Closes the “Doughnut Hole”

The doughnut hole was a gap in Medicare prescription medication coverage that was closed by the ACA. This means that seniors will get the financial support needed to cover their prescription medication expenses no matter their income levels.

Overall, while the effect of the Affordable Care Act seniors may not see directly, there are some powerful, indirect benefits that are working today to protect the elderly thanks to the passing of the ACA.

Affordable Care Act Myths and Facts:

There are a few myths and facts about the Affordable Care Act that seniors should be aware of when considering the totality of this legislation.

Myth:

The ACA Robs the Medicare Trust Fund: That is simply not true as the money is still available in Medicare just as it was before the passing of the ACA.

Fact:

The ACA Benefits Seniors: While the benefits are mostly of an indirect nature that you may not see on a day to day basis, the truth is that the ACA is helping out seniors with affordable preventative care with no co-pay and closes up the area of non-coverage for prescription medication.

Myth:

The ACA Hurts Seniors: The truth is that the Affordable Care Act provides the type of security needed to support programs such as Medicare and Medicaid which work to cover seniors on a daily basis.

Fact:

While the ACA does not provide life insurance to seniors over 70, it does provide a solid foundation that seniors can rely upon for their medical needs. This is why it is important for seniors to fully understand what the ACA is and how it affects them when it comes to getting the right prescription medications and paying less for preventative care that leads to longer, healthier lives.