Yesterday, the Centers for Medicare & Medicaid Services (CMS) announced new and exciting data about the impressive savings for Americans because of the Affordable Care Act. According to CMS’ Office of the Actuary, through 2016, the ACA will help the Medicare program save more than $200 billion by implementing anti-fraud measures, changing providers policies to improve productivity and ending excessive payment to insurers who offer Medicare Advantage plans. For seniors and those with disabilities in the traditional Medicare program, the ACA will help them realize a savings of $59.4 billion through 2016 and $208 billion through 2021 by lower cost-sharing and premiums.
This latest data further proves the that the ACA is good for America and good for Virginians. Since the law was enacted in 2012, Virginians have saved millions and gotten the health care that they need to live healthier lives.
Check below for an important list of the facts:
- Virginia’s seniors on Medicare have saved nearly $80 million on brand-name prescription drugs because of the ACA and more than 800,000 have received free preventative care services
- More than 1.5 million Virginians, including 410,000 children, can now get preventative care services without a co-pay
- Nearly 3,000,000 Virginians are now free of fear from lifetime caps on insurance coverage
- More than 60,000 of Virginia’s young adults now have health care coverage though their parents’ employer-provided health insurance
- More than 2,000,000 Virginians are better informed about the percentage of their premium dollars insurance companies actually spend on health care costs
- Virginians most in need have received critical health care through public health services and community-based clinics supported by more than $64.5 million in federal funding.