Medigap, or Medicare Supplement Insurance, is a type of private health insurance designed to supplement Original Medicare (Part A and Part B). It helps cover out-of-pocket costs that Medicare does not fully pay for, such as deductibles, coinsurance, and copayments.
Boca Raton, Florida – A widespread fraud scheme targeting Medicare recipients is being uncovered by investigators, revealing a multi-billion-dollar operation preying on vulnerable seniors. The scheme involves telemarketers persuading individuals to undergo unnecessary genetic testing for heart conditions and cancer, ultimately defrauding Medicare. Federal investigators released a recorded phone call as evidence in a criminal case, showcasing how scammers from call centers in South Florida target unsuspecting Medicare enrollees. In the call, an 84-year-old man …
Rep. Larry Bucshon, MD (R-Indiana) acknowledges the widespread problem of prior authorizations in the medical community and the need for reform. The U.S. Department of Health and Human Services’ Office of Inspector General also recognizes this issue. This acknowledgment comes as Medicare Advantage reforms are being considered. The burdensome process of prior authorizations has been a long-standing issue for healthcare providers, patients, and insurers. It often leads to delays in patient care, administrative burdens for …
Tallahassee, Florida – Florida Democratic Party Chair Nikki Fried recently criticized Senator Rick Scott’s longstanding plan to cut Social Security and Medicare benefits, calling it a “bad idea two years ago and even worse today.” Fried highlighted the detrimental impact Scott’s proposal would have on millions of Floridians, emphasizing the critical role of Social Security and Medicare in supporting the state’s seniors. Two years ago, Scott unveiled his plan to sunset Social Security and Medicare, …
The plan calls for higher taxes on high-income earners and increased prescription drug negotiations. The federal budget proposal of President Joe Biden will include an increase in Medicare taxes for individuals earning more than $400,000 per year and an expansion and acceleration of prescription drug price negotiations. According to the White House, these changes will ensure that the health insurance program for older Americans remains solvent for at least 25 years.
Discover the reasons behind the increasing cost of healthcare after retirement and learn how to prepare for this financial challenge.
Many policymakers and experts have proposed raising retirement age to address the financial challenges an aging population poses. While there are potential benefits to raising the retirement age, such as increased economic productivity and reduced strain on government resources, there are also several drawbacks to consider.
Many Medicare recipients are astonished to hear they may be responsible for thousands of dollars in additional healthcare expenses yearly. There are premiums, deductibles, copayments, and coinsurance, which vary according to whether you choose traditional Medicare or a Medicare Advantage plan, where you reside, your health, and how much medication you use.
It is crucial to understand how this Medicare operates. Many employees rely on their employers for health insurance coverage. When you leave employment permanently, you must often get coverage for yourself.
Late Wednesday night, the Centers for Medicare and Medicaid Services (CMS) issued new guidance clarifying the requirements for its recently given authority to negotiate medication pricing for Part D participants.