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THE AFFORDABLE CARE ACT'S SENIOR CARE BENEFITS: PRESCRIPTION DRUG COSTS
According to the ACA or Obamacare, many companies have to offer specific health care or senior care at home benefits to the employees, to qualify for their Healthcare Exchange Marketplaces. Many rules, in this matter, have a direct effect on the in-home elder care services and prescription drug costs.
The ‘donut hole’ rose while availing senior care at home because it had a significant impact on the prescription drug costs and the total coverage cost for availing senior care at home or in hospitals. The donut hole became a hardship for many seniors who wanted to avail the in-home elder care services but had to pay the prescription drug costs.
The rules in the ACA imply to cover partial costs of prescription drugs within the donut hole so that elders can hire a professional caregiver to stay at home for the care. The donut hole reduces the total cost of the medical and the prescription drugs, availed by the seniors. By 2020, it is predicted to have the donut hole vanished. Once it vanishes, the universal standard would be 0 deductible and a 25% co-pay for getting the prescribed medicines. That is why it might be better to stay home for your care.
To add more, Obamacare rules state that if a senior earns more than ,000 per year and 0,000 per year for the married couples, they are entitled to pay slightly more. They will charge an additional .30 per month. The additional charges are entitled to increase if they earn more than 4,000 and 4418,000 (in case of married couples), annually.
But, according to the Health Department’s survey, less than 5% of the elder people in the United States fall into this category. The additional money which is charged from the wealthy seniors is utilized in the in-home elder care services and senior healthcare of less wealthy seniors.
