New provisions of the Affordable Care Act will be implemented in 2011, which may have an effect on health insurance premiums for some Medicare recipients, according to a report by MSNBC.
The new law freezes the threshold for individuals who pay more than the standard premium for Medicare Part B, at $85,000 or above for a single person and $170,000 or above for couples. That step will increase monthly premiums to between $161.50 to 369.10, compared to a standard rate of $115.40, which could lead some to consider options from alternate insurers. The law will also make premiums for Medicare Part D, which covers prescription drugs, vary by income for the first time.
A slew of other provisions are also being enacted, such as requiring chain restaurants to display nutritional information on their menus, restricting flexible spending accounts, and providing access to preventative health services and free annual wellness exams for Medicare beneficiaries. Seniors will benefit from lower prescription drug costs and programs to increase their access to primary care physicians, the article said.
The new laws are being enforced despite opposition to the health care reform law by congressional Republicans. The incoming chairman of the House Energy and Commerce Committee, Representative Fred Upton, said he believes Republicans will come together and vote to repeal the law before the end of month, according to CBS News.
