Health Care Reform:Â What It Means for Retirees
Changes to Medicare and to the individual insurance market will affect retirees. Here are key details that you need to know.
President Obama has signed the landmark health-care overhaul legislation into law, and the Senate is taking up a bill with proposed changes. Here are key provisions that could affect you.
Medicare. The Part D prescription-drug doughnut hole will be gradually reduced by 2020. Seniors who reach the doughnut hole in 2010 will receive a $250 rebate. Starting in 2011, drug companies will be required to provide a 50% discount on brand-name drugs bought in the coverage gap. The federal subsidy for Part D premiums will be reduced for higher-income beneficiaries. Cost sharing for preventive-care services is eliminated.