Medicare Part D Premiums Will Jump In 2011
For Medicare enrollees who are hoping to catch a break on their prescription drug costs, 2011 doesn't hold out much promise. Industry analysts say that most major Part D prescription drug plans will increase their premiums for coverage in the 2011 year. Right now, Medicare Part D enrollees pay about $32 on average per month for prescription drug benefits, but a study conducted by Avalere Health says Part D subscribers should plan to pay about 10% more for prescription coverage in 2011. Part D premiums aren't limited, so some prescription drug plan costs could rise much more ...
One-Third Of Medicare Hospital Stays Involve Dual-Enrollment Patients
A new report authored by the Agency for Healthcare Research and Quality (AHRQ) says that one-third of Medicare hospital stays in 2008 involved patients who were dually eligible for Medicare and Medicaid. According to the report, Medicaid pays the Medicare insurance premiums for about 8 million beneficiaries each year, about 18% of all Medicare beneficiaries. Dual-eligible patients account for about half of all Medicaid spending and about one-quarter of all Medicare spending in any given year. Healthcare expenditures for dual enrollees are likely to be higher because dual enrollees typically have a number of chronic health conditions (some of which ...
Medicare Advantage Premiums To Decrease For 2011
In something of a surprise announcement, Donald Berwick, Director of the Centers for Medicare and Medicaid Services, says that premiums for Medicare Advantage plans will decrease slightly in 2011. Berwick says that the monthly costs for MA plans for more than 11 million enrollees will drop by about 1%. In addition, enrollees should see some relief from the cost of prescription drugs and the continuation of certain no-cost preventative health care services. In 2009, premiums for Medicare Advantage plans increased by an average of 15%. Berwick and other Medicare officials say that the health care reform act has ...
3.75M Medicare Recipients Will Get Donut Hole Check In 2010
According to figures released by the administration, more than 750,000 checks for $250 have already been mailed this summer to Medicare recipients who have exceeded their basic Medicare Part D benefits. The so-called "donut hole" is a gap in prescription drug coverage that will cause beneficiaries to pay the entire cost of their prescription drugs once their basic benefits are exhausted but before catastrophic drug coverage kicks in. Basic Medicare Part D coverage is exhausted when the beneficiary and his or her insurance company have spent a combined total of $2,830 on prescription medications in a single coverage ...
Medicare Solvency Projected Until 2029
According to an annual analysis conducted for the trustees of the Social Security Trust Fund, changes to the delivery of health care in the United States are expected to extend the solvency of the Medicare program until at least 2029, an eleven-year extension from 2009's prediction of insolvency in 2017. The future of Social Security is somewhat less clear, however. While Medicare – which had largely been considered the more vulnerable of the two entitlement programs – is seemingly on a more stable path, the outlook for Social Security has not brightened much, if at all. The trustees for the ...
Medicare Part D Plans See Modest Premium Increase For 2011
Medicare says that its Medicare Part D recipients can expect to see an average premium increase of $1 per month for 2011. Despite the premium increase, changes to the Medicare Part D program will mean that many seniors will pay less overall for prescription drug coverage in 2011. The premium increase is comparable to those seen in previous years. The Medicare Part D program was introduced in 2006. Private insurers have supplied Medicare with their bid prices for 2011 prescription drug coverage, and the agency expects to make these costs available to consumers prior to the open enrollment ...
Concierge Medicine To Challenge Medicare?
As Congress mulls a 30% cut to Medicare reimbursement fees to providers beginning January 1, 2011, more physicians are considering dropping out of Medicare altogether. A recent survey conducted by the American Medical Association shows that 17% of its members are mulling saying goodbye to Medicare in favor of other forms of treating patients. One emerging alternative is being called "concierge medicine" and it offers a different approach to providing health care. For an annual fee (usually $1,000 or more) physicians will provide routine care and examinations for patients who have enrolled in the private practice as part of ...
Who’s Eligible For Medicare Coverage?
Medicare eligibility is a big question, especially among those newly eligible for Medicare. Generally speaking, a person is eligible for Medicare when s/he turns 65 years of age after having worked at least ten years, and is a citizen or a permanent resident of the United States. There are exceptions for persons who are completely disabled and unable to work, and for persons who have been diagnosed with End Stage Renal Disease. Medicare is not like a private insurance plan, where a policyholder can add dependents. When a sole provider becomes eligible for Medicare at age 65, his or ...
The Price Of Not Enrolling In Medicare
Nearly half of all workers polled in a recent survey conducted by Robert Half say that they will delay retirement beyond the "traditional retirement age." Survey respondents also identified health care insurance as one of their most valuable benefits. A recent Pew Research Center survey found that more than one-third of workers age 62 or older had already delayed their retirement plans due to the recession. What does the plan to keep working do to Medicare eligibility? Even if you plan to continue working, the choice to enroll in or decline Medicare insurance shouldn't be taken lightly. ...
KFF Poll Shows Seniors More Negative About Health Care Reform
A poll conducted July 8-13 by the Kaiser Family Foundation and released last month shows that more American senior citizens view health care reform negatively than younger adults do, and that more seniors believe that national healthcare reform will hurt Medicare. Overall, about half of all Americans view healthcare reform positively, an improvement over their initial reaction when the legislation was first passed in May, Forty-six percent of seniors view the reforms in a negative way, compared to 38% of seniors, who view the reforms favorably. Seventeen percent of respondents say they do not know enough about the ...
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