A study released Thursday, by Gerald Riley, a researcher at the Centers for Medicare & Medicaid Services (CMS), adds to those concerns. The study looked at more than 240,000 people who dropped out of Medicare Advantage plans in 2007, and compared them with beneficiaries who remained in traditional Medicare the entire time. In the six months after leaving the private plans, the former Medicare Advantage patients used an average of $1,021 in medical services each month, while the patients in the control group cost Medicare $710 a month, the study found.
Video: How to Understand Medicare Plans
Understanding Paul Ryan’s Medicare reform plan in three minutes
The federal government will determine the minimum level of benefits that all plans must offer. The premium-support payment is capped at the growth of GDP, plus 0.5 percent. The subsidy will be adjusted based on the income level of the consumer.
Duluth billboard hits Cravaack on GOP Medicare plan
“Congressman [Chip] Cravaack owes Minnesota’s seniors a straight [answer] on where he stands on this misguided privatization scheme for Medicare that will leave them paying more and more out of pocket for their care. If he does support it, he must explain why he is seeking to dismantle Medicare as we know it and slash benefits for seniors at the same time he is protecting billions of dollars in needless subsidies for the oil industry. If he doesn’t support privatizing Medicare, is he doing everything in his power to discourage his Republican Party bosses from pursuing it?”
Administration Cuts Medicare Plans; Stock Prices Plunge
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Daily Kos: A Medicare voucher by any other name, still a bad deal for seniors
Proposals floating around Congress these days call for privatizing Medicare via vouchers, but they don’t use the term. In general, the proposals would encourage insurance companies to bid against each other, to produce the lowest-cost policies in the private market. Customers would receive a sum of money—aka a voucher— to help defray the cost. Tennessee Sen. Bob Corker introduced his “Dollar for Dollar Act,” and a good chunk of it deals with what he calls structurally transforming Medicare by “keeping fee-for-service Medicare in place, competing side-by-side with private options that seniors can choose instead. Utah Sen. Orin Hatch used the term “competitive bidding” and said allowing health plans “to compete with traditional fee-for-service Medicare” would reduce costs and preserve the quality of care. The plans would allow people to choose between these voucherized plans and traditional Medicare, preserving the notion of choice. Foes of our social insurance programs have gotten savvy enough to realize that they can’t privatize Medicare in one fell swoop, as Ryan’s original budget (back before “vouchers” were a dirty word) envisioned. So in the next iteration, they employed the idea of “choice,” of competition with traditional Medicare. That allows them to chip away at it, pulling away younger, healthier patients who might be able to get good private insurance deals and leaving the older, sicker, more expensive patients in traditional Medicare to sap the program more quickly and make killing it off entirely that much easier.
Uwe E. Reinhardt: The Complexities of Comparing Medicare Choices
Each private plan would have had to offer a benefit package that covered at least the actuarial equivalent of the benefit package provided by the traditional fee-for-service Medicare. Medicare’s contribution (or “premium support”) to the full premium for any of these choices, including traditional Medicare, would have been equal to the “second-least-expensive approved plan or fee-for-service Medicare” in the beneficiary’s county, whichever was least expensive. That premium support payment would have been adjusted upward for the poor and the sick and downward for the wealthy.
Local Teacher Confused about Changes to TRS Medicare Plans » Toni Says
On page 31 of the 2013 Medicare & You handbook it states that an inpatient hospital stay begins the day you’re formally admitted with a doctor’s order. You must have 3 full days past midnight stay “formally admitted” and doesn’t include the day you are discharged. So that makes 4 days. I would determine the stay begins when the doctor has “formally” written the order not when you are in the ER waiting for a room. Don’t confuse signing papers when you arrive at the hospital with being formally admitted. Your doctor has to do sign that order.
Medicare Plan Finder for Health, Prescription Drug and Medigap plans
CMS Releases Proposed 2014 Payment Plan for Medicare Part D, Advantage
For the first time in Medicare Part D’s history, CMS would lower beneficiary’s deductibles and copays for covered prescription drugs as part of the agency’s proposed payment plan for 2014. Among other features of the proposed rule (pdf) are details regarding the health law’s 85 percent medical loss ratio requirement for Medicare Advantage and prescription drug plans. The proposed rule would also forbid plans from raising costs to members more than $30 per member per month, which is even more stringent than the previous cap of $36 per member per month. Another key element of the rule would be a new requirement on Part D pharmacies to require a beneficiary’s consent for each prescription drug delivery unless he or she personally requested the refill. That’s a move to help eliminate unwanted shipments to covered Medicare beneficiaries who could be billed for drug shipments they no longer required.
There Is A Plan to “Save” Medicare…But It’s Complicated
In the end, it isn’t just liberals and frightened senior citizens who oppose the across-the-board Medicare cuts that Rubio and his fellow austerity-obsessed friends are recommending. Health care stakeholders and policy experts in the public and private sectors know that it will require a lot of experimentation and patience to bring about systematic change. Prices for services need to come down and be more transparent to consumers. Better care coordination is necessary to prevent so many costly hospital readmissions. End-of-life planning needs to be a part of every Medicare patient’s treatment plan. We need more comparative effectiveness research and outcomes data to identify the most valuable care.
Medicare Open Enrollment: last chance to review and compare plans
With the holiday season upon us, it’s easy to get busy this time of year. Some pretty important tasks can get left to the last minute. One of those important tasks is ensuring you are in the right health insurance plan in Medicare. Selecting the right plan is a personal choice, and a lot of thoughtful consideration goes into finding the right match. But just like the holidays, those key dates come whether or not you are ready.