The National Council on Aging (NCOA) has identified the top twelve facts that seniors should be aware of concerning the health reform law. A Harris poll entitled "Straight Talk" reveals that only 17% of seniors knew the correct answers to more than half the factual questions posed about these key aspects of new law and only 9% knew the correct answers to at least two-thirds of the questions. None of the 636 older adults interviewed for the poll knew the correct answers to all twelve of the factual questions.
Here are some examples of issues that were not clearly understood:
1. Only 14% of seniors knew that the law does not cut Medicare payments to doctors; 45% answered incorrectly and 41% said they did not know.
2. Only 24% of seniors knew that it is projected to extend the solvency of the Medicare Trust Fund.
3. Only 28% knew that the law improves the availability of long-term care at home for seniors with disabilities.4. Only 22% knew about improvements in chronic care.
5. Only 33% knew about the new, free yearly wellness visit Medicare will now provide.
6. Two out of three seniors either did not know (43%) or gave the wrong answer about the future growth of Medicare spending. Only 34% knew that it will continue to grow under the new law, just more slowly.
What follows are the NCOA faqs (frequently asked questions) about health care reform issues:
Will the new law cut Medicare spending?
Medicare spending is growing rapidly and will continue to grow. But over the next 10 years, the new law will slow the rate of growth — from 6.8% per year to 5.5%. These figures come from the independent, non-partisan Congressional Budget Office (CBO), which is the group responsible to Congress for health reform cost estimates. Average yearly spending increases per person will be reduced from about 4% to 2%, adjusted for inflation.How will the new law affect Medicare solvency?
CBO projects that the new law will save Medicare about $400 billion over 10 years and extend the solvency of the Medicare Trust Fund for an additional nine years — from 2017 to 2026.How will the new law affect the federal budget deficit?
Under the new law, Medicare spending increases will slow down and new revenues will be raised, primarily from taxes paid by people with incomes over $200,000. Together, the savings and dollars coming in are expected to be greater than the money going out to pay for new benefits. Therefore, the CBO has estimated that the new law will reduce the budget deficit by $124 billion over 10 years.Will the new law make it easier to receive and pay for long-term care at home?
Yes, the law provides new incentives for states to make it easier for lower income people who are on Medicaid to get long-term care at home instead of in a nursing home by providing extra federal funds to provide in-home services. Also, the law creates the CLASS Act (Community Living Assistance Services and Supports), which allows full and part-time workers with incomes of at least $1,200 per year to enroll in a program that provides a cash benefit averaging $75 per day to help them stay at home when they become unable to care for themselves. Workers can choose to participate and have premiums deducted from their paychecks. [Section 8002]Pages: 1 · 2
