Report: Obama’s Affordable Care Act Will Save Medicare $200 Billion |
The Affordable Care Act, President Obama’s health care reform law, will reportedly save Medicare more than $2 billion by 2016, while saving seniors nearly $60 billion in out-of-pocket costs, according to a new report released by the Centers for Medicare and Medicaid Services (CMS). According to the report, Medicare’s largest savings come from “cuts to doctors, hospitals and other healthcare providers, as well as private insurance companies,” which amounts to more than $150 billion. The ACA will also save seniors roughly $59.4 billion by 2016, and $208 billion though 2021.
– Fatima Najiy