Monday, January 3, 2011

Medical coverage

The new year will change the way many of us get our health care under the reform law President Obama signed back in March. The administration knows there are plenty of skeptics and is still trying to sell health care reform as a good deal for tax payers. One new provision should help anyone with a job and insurance: employer plans have to spend 80-85% of your premium dollars on services related to medical care. And for those on Medicare, the so called donut hole is getting smaller. The donut hole is a gap in coverage that exists for seniors who've spent a certain amount for drugs and is in whats called the 'part D' drug plan. Starting this year seniors who fall into that gap will get 50% discount on brand name drugs and a much smaller discount on generic drugs. Seniors will get free preventive benefits. Many of the biggest changes in health care reform, including a mandate that everyone buy health insurance, wont kick in until 2014.

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