Medigap, or the Medicare Supplemental plan, is extra health insurance that you can buy from a private company to pay health care costs that are not covered by Original Medicare (Parts A & B), such as co-payments, deductibles, and health insurance if you travel outside the U.S. Medigap policies do not cover long-term care such as stays in a nursing facility,
You may think that after you sign up and choose your coverage for Medicare that you’re done, but there are still a few things that you should do within your first year of having Medicare. Here’s a list to help you get started.
Fill Out An Authorization Form
If you ever want your friends and family to call Medicare on your behalf then you’ll have to fill out an authorization form.
There are four different parts of Medicare. You can choose the basic ones or the ones that allow more coverage.
Medicare Part A, B, C, & D
When you apply to Medicare, Part A is what you’ll be automatically enrolled in. Plan A is your hospital insurance plan.
Medicare is a federal health insurance program that provides health coverage for millions of retired or disabled Americans. While the government has tried to make it easy to sign up for, there are some obstacles that you should be aware of.
Who is eligible for Medicare?
Medicare coverage starts for people at age 65 as long as they are a U.S.
Medicare.gov has recently launched a new tool that will make it easier for Medicare beneficiaries to choose the best hospital for their care. With this new tool, users can browse and compare hospitals in their area, seeing information such as patient ratings, response statistics for certain medical concerns, readmission rates, and more.
Medicare’s Hospital Compare
If you are having a medical emergency,
Starting Feb. 28, Medicare will require pre-approval for some of the most commonly used home medical supplies, including oxygen, sleep apnea gear, and related equipment. The change comes as a response to a large amount of system abuse, and hopes to scale back inflated claims.
Savings for Medicare; Concerns for Beneficiaries and Providers
Medicare anticipates that savings from this initiative will save upwards of $10 million over the course of 2016.
It’s a common scenario: You’ve retired and have gone on Medicare, but you still have leftover funds in your HSA. Now that you’re not on a high-deductible plan, what should you do with the remaining balance?
Even though you have left your old health plan, you are not required to spend the remaining balance right away.
If you’ve been holding off on enrolling in a new Medicare plan, you may not want to put things off much longer- the Open Enrollment period is ending in just two weeks, on December 7th.
Medicare Advantage and Part D Open Enrollment
Unlike Original Medicare, which is administered by the federal government,
Medicare’s spending on breakthrough medications for hepatitis C is expected to double this year, passing $9 billion, according to new government figures. The drastic increase in spending is expected to raise insurance costs for all beneficiaries, whether or not they have the liver-wasting viral disease.
Medications for Hepatitis C to Account for Nearly 7% of Part D Spending in 2015
New cost estimates indicate that Medicare Part D,
Millions of Medicare recipients who were dreading a 52% premium increase may not have to worry much longer thanks to a bipartisan budget deal the House passed on Wednesday, October 28th. The Senate is due to vote soon.
Lower Increases in Part B Premiums
The budget deal, if it passes through Congress,