Medicare Part D prescription drug plan premiums are generally expected to remain steady in 2013, and AARP Public Policy Institute analysis finds that premiums for many popular plans will actually be considerably higher than they were in 2012. Many plans are also increasing cost-sharing and their reliance on utilization management tools for covered prescription drugs. Medicare beneficiaries should closely examine their 2013 prescription drug plan choices during open enrollment for Part D. Source/more: AARP Public Policy Institute
CBO has issued a reminder of the need to cut Medicare spending. Health care programs are quickly outgrowing their historical share of the federal budget, CBO said, and the cost of those programs will only grow faster as more baby boomers reach retirement and underlying health care costs continue to soar. CBO's latest figures confirm what Republicans and Democrats acknowledge only selectively —that health care is a huge part of what's driving federal spending and debt. Health care programs are eating up an ever-increasing share of the economy, while tax revenues and other domestic spending are holding relatively steady, CBO…
While President Obama's re-election means Medicare and Medicaid as we know them will likely be preserved at least for the next four years, many challenges are still ahead. One of the biggest outcomes of the election is that the Affordable Care Act (ACA – a.k.a. "Obamacare"), which candidate Mitt Romney had promised to repeal, will almost certainly remain as law and be fully implemented. The law is already beginning to close the gap in Medicare’s prescription drug coverage known as the "doughnut hole," as well as providing free preventative care for Medicare recipients. The ACA also included a number…
In a major change in Medicare policy, the Obama administration has provisionally agreed to end Medicare’s longstanding practice of requiring that beneficiaries with chronic conditions and disabilities show a likelihood of improvement in order to receive coverage of skilled care and therapy services. The policy shift will affect beneficiaries with conditions like multiple sclerosis, Alzheimer’s disease, Parkinson’s disease, ALS (Lou Gehrig’s disease), diabetes, hypertension, arthritis, heart disease, and stroke. For decades, home health agencies and nursing homes that contract with Medicare have routinely terminated the Medicare coverage of a beneficiary who has stopped improving, even though nothing in the Medicare…
In the past, as many as one in four seniors went without a prescription every year because they couldn’t afford it. To help these seniors, the law provides relief for people in the donut hole – the ones with the highest prescription drug costs. In 2010 and 2011, over 5.1 million seniors and people with disabilities on Medicare saved over $3.1 billion on prescription drugs thanks to the Affordable Care Act. These savings include a one-time $250 rebate check to seniors who fell into the prescription drug coverage gap known as the “donut hole” in 2010, and a 50 percent…
Does the normally tidy house now seem neglected? Is there hoarding? Do you notice memory problems, confusion or physical unsteadiness? Discovering that a parent's physical or mental health is declining can be heavy on the heart. It also can be hard on your finances, states the Wall Street Journal. "The first thing is don't panic. "Come up with a plan." Feeling overwhelmed may prompt you to spend money on the wrong things, such as full-time care, when your parent just needs delivered meals or someone to run errands a few times a week. Here are some tips: 1. Assess needs…
Protecting Medicare BenefitsUnder the new health reform law, your existing Medicare-covered benefits can’t be reduced or taken away. As always, you will be able to choose your own doctors. Fighting FraudThe health care law helps stop fraud with tougher screening procedures, stronger penalties, and new technology. Thanks in part to these efforts, we recovered $4.1 billion in taxpayer dollars in 2011, the second year recoveries hit this record-breaking level. Total recoveries over the lastthree years were $10.7 billion. Prosecutions are way up, too: the number of individuals charged with fraud increased from 821 in fiscal year 2008 to 1,430 in…
President Obama believes affordable health care you can rely on is part of the middle class bargain whether you’re working or retired. The Affordable Care Act strengthens and protects Medicare for seniors who have earned and paid for the guaranteed coverage it provides. Nearly 50 million older Americans and Americans with disabilities rely on Medicare each year, and the new health care law makes Medicare stronger by adding new benefits, fighting fraud, and improving care for patients. The life of the Medicare Trust Fund will be extended to at least 2024 as a result of reducing waste, fraud, and abuse,…
People with special needs may qualify for a variety of government benefits, including Medicaid and Medicare. It can be difficult to tell the two programs apart, especially because their names are so similar. However, Medicaid and Medicare, which account for the lion's share of federal spending on health care, are dramatically different programs with different eligibility requirements and benefits. Here's how the two programs differ. Means-Tested Means Medicaid Medicaid is a state and federal partnership program that gives medical coverage to selected groups with low-incomes — children, pregnant women, parents of eligible children, people with disabilities, and elderly in need…
1. Figure out what type of place your parents need and what your family can afford. 2. Involve your parents in the decision, if they’re up to it. 3. Before hiring an eldercare consultant, ask how he or she gets paid. 4. Make sure a facility is a good fit for your parents socially. 5. Conduct your own onsite inspection of any facility before signing up your parents. 6. Research the Medicare and state evaluations for the facilities you’re considering. 7. Read the facility’s contract carefully. 8. Above all, plan ahead.
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