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Politicians are saying "we will not cut your Medicare benefits". Yet, proposed funding is being slashed.
READ THIS:
Will Medicare Funding Cuts = Benefit Cuts
- Thread starter MedSuppPro
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- medicare
As I understand it, MA will be affected directly by the cuts, but not original Medicare. This is how they can lie and tell the truth at the same time. By cutting the subsidies to MA companies, they in turn have to cut the additional coverage beneficiaries have come accustomed to, raise their premiums, raise their deductibles or a combination of all three. This, of course is all speculation given the fact that there are currently at least five bills being constructed and no one really knows what is in each of them.
What they don't say is how much this will cost those on original Medicare. They can cut their costs, keep the same coverage (80/20 etc.) but that doesn't mean they won't increase the deductibles and premiums. Political double talk is all it is.
What they don't say is how much this will cost those on original Medicare. They can cut their costs, keep the same coverage (80/20 etc.) but that doesn't mean they won't increase the deductibles and premiums. Political double talk is all it is.
- 15,319
The last I heard was that the 21% cut in provider payments has not been rescinded by Congress. This is to take effect on January 1.
Remember the 11% cut that was postponed last year? It was to be added to the additional 10% for Jan. 2010.
Did something happen to eliminate this?
Rick
Remember the 11% cut that was postponed last year? It was to be added to the additional 10% for Jan. 2010.
Did something happen to eliminate this?
Rick
I haven't seen the actual data, but the word around the campfire is that aside from AARP, in my market, most if not all the other carriers in the MA world are either bailing, or making some very drastic changes that are not going to be well accepted by seniors. This might be a sign that the 21% is still a go, but with Congress, who the hell knows!
The 11% was removed from the table with HR6331 to the best of my knowledge. Instead they focused on cuts to funding the MA plans for 2010. That was passed 7/2008 so it's been a while since I read it.
- 15,319
I thought that the 11% was just postponed and added to the automatic 10% cut coming in January.
If I was better on searching on the net I could probably find the answer. Maybe someone more intelligent can do it and give us a definitive answer.
Rick
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On January 1, 2010, physicians face a minimum across-the-board cut of 21% in Medicare payments. This 21% cut will grow to about 40% in cumulative cuts by 2016 unless Congress acts soon to replace the outdated payment update formula and permanently reform Medicare’s physician payment system.
Persistent, looming cuts and low payments reduce access to care and keep physicians from participating in quality initiatives and purchasing health information technology. Medicare payments should cover the increasing cost of providing care so that seniors can be assured of continued access to physician care.
--AMA 2009
Persistent, looming cuts and low payments reduce access to care and keep physicians from participating in quality initiatives and purchasing health information technology. Medicare payments should cover the increasing cost of providing care so that seniors can be assured of continued access to physician care.
--AMA 2009
This is a good reason to OFFER policies with excess charge coverage:
D-390.986 Medicare Balance Billing:
Our American Medical Association: (1) advocate that physicians be allowed to balance bill Medicare recipients to the full amount of their normal charge with the patient responsible for the difference between the Medicare payment and the physician charges; (2) seek introduction of national legislation to bring about implementation of balance billing of Medicare recipients; and (3) further advocate that such federal laws and regulations pre-empt state laws that prohibit balance billing. (Res. 713, I-02; Reaffirmation A-04; Reaffirmation A-06; Reaffirmed per BOT Action in response to referred for decision Res. 236, A-06)
Our American Medical Association: (1) advocate that physicians be allowed to balance bill Medicare recipients to the full amount of their normal charge with the patient responsible for the difference between the Medicare payment and the physician charges; (2) seek introduction of national legislation to bring about implementation of balance billing of Medicare recipients; and (3) further advocate that such federal laws and regulations pre-empt state laws that prohibit balance billing. (Res. 713, I-02; Reaffirmation A-04; Reaffirmation A-06; Reaffirmed per BOT Action in response to referred for decision Res. 236, A-06)
- 11,995
Aside from the funding cuts, the cost of healthcare usually goes up at least 5% each year. So if reimbursements to the MA carriers even stay the same, it's like getting a 5%+ cut every year. So even a 4% cut in reimbursements could easily make it a total loss of 10%+. Add into that carriers are now paying $200/year renewals and we might not be seeing $0/month MAPD plans with dental and vision included. I think we're still going to have some good products around, but there is no denying that cutting reimbursements to carriers will result in benefit cuts.
In other news, the Medicare Hospital Fund will be insolvent by 2017 unless they do something. Medicare Hospital Fund Will Be Insolvent By 2017, Two Years Earlier Than Expected, Trustees Say
In other news, the Medicare Hospital Fund will be insolvent by 2017 unless they do something. Medicare Hospital Fund Will Be Insolvent By 2017, Two Years Earlier Than Expected, Trustees Say
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"That's what we're talking about: Security and stability for folks who have health insurance. Help for those who don't, the coverage they need at a price they can afford."
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