Section 101 of the Tax Relief and Health Care Act of 2006 (MIEA-TRHCA) provided a 1-year update of 0% for the conversion factor for CY 2007 and specified that the conversion factor for CY 2008 must be computed as if the 1-year update had never applied. Section 101 of the Medicare, Medicaid, and SCHIP Extension Act of 2007 (MMSEA) provided a 6-month increase of 0.5% in the CY 2008 conversion factor, from January 1, 2008, through June 30, 2008, and specified that the conversion factor for the remaining portion of 2008 and the conversion factors for CY 2009 and subsequent years must be computed as if the 6-month increase had never applied. Section 131 of the Medicare Improvements for Patients and Providers Act of 2008 (MIPPA) extended the increase in the CY 2008 conversion factor that was applicable for the first half of the year to the entire year, provided for a 1.1% increase to the CY 2009 conversion factor, and specified that the conversion factors for CY 2010 and subsequent years must be computed as if the increases had never applied.
Fact Check: Obamacare’s Medicare Cuts
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Does Obamacare really cut Medicare Benefits to Senior Citizens?
“Write your future plans in pencil…” No truer words were spoken. Never did I think as I stood on the stage of my graduation with a Master degree and high honors that my bright future would be abruptly ended by chronic illness and disability. Yet, here I am. You stated in your article “give them the facts. I think we owe them that much”. We do owe “everyone” that much, and here are the facts. As stated by the site created by Medicare itself “It is important to remember that you may need long-term care at any age…people who have a chronic illness or disability”. It is also likely that these people, a great number who will never recover but whom will live a long life, will require the use of a type of Medicare and Medicare Advantage Plan for much longer than a senior citizen. Therefore, to represent this population, I say, yes, Obamacare frightens us. My most recent stint in the hospital, an unplanned and unexpected illness which resulted in temporary kidney damage, could have resulted in death if not for my Medicare and Medicare Advantage Plan. Even though my husband and I teeter on the brink of bankruptcy, like so many of my middle aged peers whom are suddenly unable to work due to disability, more than “sixty-three million people”, we are still able to AFFORD a medicare advantage plan. Unlike many of my peers who not only cannot afford one, but also cannot even get Medicare due to stringent rules and a long waiting line for court dates. My week long hospital stay, plus home care and rehab resulted in full recovery of my kidney function, and also a bill for nearly $50,000 which was covered primarily by Medicare and then my Medicare Advantage Plan. If not for these programs, I would have died as my husband and I are broke as a result of medical bills not covered by these two entities. This is what terrifies many Americans, disabled and elderly, who live with chronic and disabling illness. We must remember Obamacare may decide not only the future of the elderly who would like to join a gym, but the future of people of ALL ages and their families whom even under the current guidelines are struggling to SURVIVE. Yes, I am here in the trenches with so many struggling to survive with chronic illness in a country that may decided I am not worthy to do so. I think I am owed more at this juncture in my life, after all of the good I contributed to this society, than to die unnecessarily due to the financial inconvenience it may cause. We must REMEMBER them, and I, for one, think we “owe them that much”. “Lest we forget…” http://www.medicare.gov/longtermcare/static/home.asp http://content.healthaffairs.org/content/28/1/64.full
Medicare Budget 2015: Payment Cuts and Increased Premiums Expected
Currently, beneficiaries with incomes above a certain level are required to pay a higher monthly premium for Medicare Part B and Part D coverage. This proposal would restructure these income-related premiums by increasing the lowest income-related premiums by five percentage points to 40% and creating new tiers for every 12.5 percentage points until the highest tier is capped at 90%. While current estimates claim that less than 5% of all Medicare beneficiaries are affected by this higher premium, the new proposal aims to maintain these thresholds until 25% of all beneficiaries enrolled in Part B and Part D are subject to these premiums.
More Cuts In Store For Medicare Plans
I am an Insurance Agent that works with the Senior market. I sell the Medicare Advantage plans and Medicare supplement plans. Whichever one the client wants that is what I put them on. I hate that the government again is going to try to squeeze the medicare advantage plans out of the picture. It is plain that they are not thinking about the Senior but the money that they can save. Everybody today is feeling the pinch of not having enough money let alone any extra money. There are many many Seniors out there that cannot afford a medicare supplement and then adding on the Part D RX plan. Let us remember these medicare supps only pick up the deductible and the 20% not paid by Medicare. Many times the supps are not paying that much out a year and yet these supps raise every year. I have some clients that are just retiring and they have income that can afford these but many of them elect to have a HSA and put money aside that will pay the 20% not covered by Medicare and then some choose the Supplement, (the ones who can afford it). However there are many of my clients who cannot afford a supp and separate RX plan and they make a little to much money to be eligible for a Medicaid card that will pick out the 20%. I have ran into more Seniors that are in this boat. Medicare Advantage plans have been a lifesaver for them. There is some plans that are on average around $30 to 40 a month and some in my area that is a $0 premium. People are paying around $5 to $15 for a doctor visit that covers all their lab and they pay around $35 to $45 for a specialist. The RX is included. They end up paying between $200 to around $1200 for each admission. A small co pay for Outpatient surgery around $200 to $300. Many benefits of a having a Medicare Advantage. Some plans even will provide eye exams and glasses and even dental benefits. I AM FOR THE SENIOR. I make a commission no matter if they pick a Supplement or a Medicare Advantage plan so I am happy either way. But if the government takes away these Medicare Advantage plans many senior will have to do without something to pay the 20% medicare does not pay. I believe if these plans are cut than the Senior RX Part D plan will be next. The Medicare Supplement will eventually be the next target. My clients are so happy to have these plan available to them. I have seen people cutting back on food and other things they needed because of not enough money and it scares me now that Obama wants to cut these plans until they just drop which in turn will make Senior pay out more for medical care. If he wants to do this then give all Seniors a Medicaid card in addition to their Medicare card and this will allow them not to have to pay anything for their medical care or leave the Medicare advantage plans alone.