The Affordable Care Act In Action, Securing Medicare Benefits

From the Introduction:

The Patient Protection and Affordable Care Act (PPACA) includes a series of Medicare reforms that will generate billions of dollars in savings for Medicare and strengthen the care Medicare beneficiaries receive. The new law protects guaranteed benefits for all Medicare beneficiaries, and provides new benefits and services to seniors on Medicare that will help keep seniors healthy. The law also includes provisions that will improve the quality of care, develop and promote new models of care delivery, appropriately price services, modernize our health system, and fight waste, fraud, and abuse. Implementing these changes extends the life of the Medicare Hospital Insurance Trust Fund by 12 years from 2017 to 2029, more than doubling the time before the exhaustion of the Trust Fund.

Since the law was passed more than four months ago, the Centers for Medicare & Medicaid Services (CMS) has begun work to implement many of the key cost saving provisions that will add more than $575 billion over the next 10 years to the Medicare Hospital Insurance Trust Fund. The highlighted Affordable Care Act provisions for which implementation has already advanced—along with the Administration’s ongoing efforts—will save nearly $8 billion within the next two years and approximately $418 billion by 2019. Taken together, the Medicare savings will lower beneficiaries’ Part B premiums by nearly $200 annually by 2018.

Download Links:

CMS Study: The Actuarial Studies Report on Estimated Financial Effects of PPACA, as Amended

Report by the CBO: The Long-Term Outlook for Medicare, Medicaid, and Total Health Care Spending

Social Security Online Actuarial Publication: A Summary of the Latest Annual Reports

For more information on how the Affordable Care Act will help fight fraud, visit here.

 

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