The insurance industry has launched a second television ad against proposed cuts to private Medicare Advantage plans. The latest ad features seniors talking into the camera about the "drastic" consequences of losing access to their Medicare Advantage plans. "If Medicare Advantage has some cuts to it, I'm going to be in bad shape financially," one man says in the new ad, which began airing in Washington, D.C. on Monday and will air in Louisiana on Tuesday. It's the second television ad America's Health Insurance Plans (AHIP) has launched in a far-reaching lobbying campaign to block the proposed cuts. More than…
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The Medicare Advantage Disenrollment Period (MADP) lasts from January 1 through February 14 of each year. During the MADP, a beneficiary can switch from an MA plan to traditional Medicare. The new MADP also provides an opportunity to enroll in a Part D drug plan for those who have not already done so. When disenrolling from an MA plan during the MADP, the effective date of disenrollment is the first day of the month following the date the disenrollment request is received. Thus, disenrollment requests received by MA organizations in January are effective February 1; those received February 1 through…
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To receive up to 100 days of rehabilitative treatment either in a rehab facility, nursing home, or at home, generally, you need at least 3 days inpatient hospitalization. Consequently, if you are in the hospital for two days or less, you may not qualify for this Medicare benefit and will pay privately. When calculating three days of inpatient care, consider three “midnights” and make certain the time was spent as an inpatient and not in the emergency room or “under observation.” Although, in the hospital, sleeping over, and if you’re not “admitted” you are not considered eligible. If “under observation”…
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The Centers for Medicare and Medicaid Services recently announced they are preliminarily raising the reimbursement rate for Medicare Advantage plans by 1.6 percent in 2012. This could make the popular plans more profitable for the companies offering them, and perhaps help hold the line on premium increases. Medicare Advantage plans are privately run versions of Medicare. Subsidized by the government, the plans offer basic Medicare coverage, but with extras like vision or dental coverage – and usually at premiums lower than standard Medicare rates. According to Forbes, the 1.6% increase is about what investors and provider companies had expected. The…
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