government
HHS projects ACA will save seniors $5,000 by 2022
NEWS IN BRIEF — Posted Oct. 8, 2012
More than 19 million seniors have received preventive services with no out-of-pocket costs this year under one of several Accountable Care Act provisions expected to save seniors thousands of dollars, according to figures from the Dept. of Health and Human Services.
The health system reform law required Medicare to waive cost-sharing requirements for approved preventive services. For instance, the deductible and co-payment for a colorectal cancer screening would be waived — saving a patient around $160.
HHS estimates that the provision, along with the gradual closing of a coverage gap in the Part D prescription drug benefit, will pay off for seniors during the next decade. The average Medicare recipient could save about $5,000 by 2022. Beneficiaries who take high-cost medicines stand to benefit more from the coverage gap closing and will save an estimated $18,000. More than 5.5 million seniors have received rebates or discounts on drugs in 2012 after falling in the gap known as the Part D doughnut hole.
At the same time, utilization of a new free Medicare checkup visit continues to be low. Just 6% of Medicare beneficiaries, or 1.9 million seniors, had an annual wellness visit through August. But more patients are seeking out the service compared with 2011, HHS said. Utilization of annual wellness visits is up by 600,000.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2012/10/08/gvbf1008.htm.
