Contents of Obamacare - Part 11- Elders

The Elder Justice Act.This law, among other things, establishes forensic centers to determine elder abuse, neglect and exploitation. “Elder” is defined “an individual who is 60 years old or older!”. The law offers grants to the states to promote “adult protective services.” There will be a study on the usefulness of a “nurses aide registry”. (Each year, 5000,000 to 5,000,000 elders are abused, neglgected, or explited. Last year, financial exploitation robbed seniors of $2.9 billion dollars, per a MetLife Mature Market Institute study. 77 million baby boomers are now approaching retirment and old age. In Illinois, Financial exploitation is the most common type of elder abuse in Illinois. Improving Access to Innovative Medical Therapies. The law allows for FDA approval of “biosimilar” biologics, which are analogous to generic drugs, which are less expensive than proprietary drugs. The US Food and Drug Administration (FDA) is charged with implementing an abbreviated pathway to the market for biosimilars. A “biologic” is a “virus, therapeutic serum, toxin, antitoxin, vaccine, blood, blood component or derivative, allergenic product or analogous product, or arsphenamine or derivative of arsphenamine (or any other trivalent organic arsenic compound), applicable to the prevention, treatment, or cure of a disease or condition of human beings.” NEXT: FUNDING FOR OBAMACARE