Good news for Seniors- $250 would not have to be repaid if healthcare appeal passes.

Good news for the 2.8 million Medicare seniors who received $250 checks to cover prescription drug costs under the healthcare reform law in 2010.

You will not have to repay the money to the government if the measure is repealed, House Majority Leader Eric Cantor said Tuesday.

“These checks were received under existing law now,” Cantor told reporters.

The rebates were aimed at closing the coverage gap, widely know as the “doughnut hole,” that was created by the 2004 expansion of Medicare. It refers to the thousands of dollars in out-of-pocket expenses that some recipients have to pay if their prescription drug costs exceed what Medicare covers but fall below the level at which “catastrophic” coverage kicks in.

Put another way, “Approximately 3.4 million seniors nationwide with the heaviest reliance on prescription drugs faced the prospect of paying up to $4,000 out of pocket before they qualified for further assistance from Medicare.” stated Senator Dick Durbin

While I am against the Unconstitutionality, reckless spending and burden that the healthcare law will place on our children and grandchildren, this is one aspect that I do support.

I am glad to hear that if a repeal is put into effect- which I render unlikely- the seniors would not have to pay back the rebate.

Seniors need this money to offset living expenses, especially since the cost of living adjustments (COLA) for Social Security was denied for the fiscal year 2011, leaving some Social Security recipients wondering how they are going to make ends meet.

Copyright (c) January 19, 2011. All rights reserved.