Navigation Links
Medicare Agency Announces Decreased Payments to Medicare Advantage Insurers in 2010, Says

The Centers for Medicare and Medicaid Services announced cuts in payments to Medicare Advantage insurers of as much as 4.5 percent by the year 2010. The additional costs could be passed along to seniors, says

Los Angeles, CA (Vocus) July 22, 2009 -- In a move that will likely increase costs to seniors for their Medicare Advantage health insurance plans, in April the federal government announced a decrease in the rates it will use to figure Medicare Advantage reimbursements to insurers. The Centers for Medicare and Medicaid Services (CMS), the federal agency that administers Medicare and Medicaid, expects those payments to fall by 4 to 4.5 percent next year.

This raises concerns for seniors regarding how the lower rate will affect their private health insurance plans, since lower reimbursements could impact earnings for private insurers and cause them to pass along costs to those they insure. The overall impact could be higher premiums with fewer benefits for those enrolled in a Medicare Advantage plan.

Alan Weinstock, an insurance broker at, recognizes the need for seniors to find the best health care coverage available: "Understanding the differences between Medicare Advantage and Medicare supplement plans, also known as Medigap insurance, is important. It's important to help seniors evaluate their needs by comparing the rates and plans of several well-known insurance companies."

That's exactly what Ira Polak, 70, of Chatsworth, Calif., discovered when he contacted Weinstock. "I especially appreciated his showing my wife and me the plan he felt was best, and not the most expensive."

With Medicare supplement insurance seniors choose their own doctors and hospitals with no referrals for specialists. While there is a monthly premium for Medigap policies, Medicare covers as much as 80 percent of a senior's health care costs and the Medigap plan covers (or supplements) the rest.

With a Medicare Advantage plan seniors typically pay no (or a very low) premium, but the plan becomes the primary insurance. These plans have traditionally required members to see only doctors within a specific network.

Weinstock believes it's important that those 65 and older educate themselves about the various plans available before making a decision and that contacting the brokers at will provide seniors with the insurance information they need.

# # #

Read the full story at

Source: PRWeb
Copyright©2009 Vocus, Inc.
All rights reserved

Related medicine news :

1. GAO Report Confirms: Medicare Underpays for Anesthesia Services; Nurse Anesthetists Assure Seniors Access to Safe Anesthesia Care
2. Texas Supreme Court Rules Against Medicare HMOs in Hospital Reimbursement Fight
3. Owner and Operator of Florida Durable Medical Equipment Company Convicted of Medicare Fraud
4. Just Completed Studies Reveal Impact of New Medicare Reimbursement Regulations
5. AHCA: Rescinding $2.7 Billion Medicare Cuts Top Issue for Fall Legislative Agenda
6. University of Texas Study Details Lengthy Payment Delays for Medicare Part D Prescription Drug Claims, Confirming Need for Legislative Fix
7. Medicare Spending Caps Cause Seniors to Stop Meds
8. Medicare Prescription Drug Benefit, Nonprofit Hospitals, Ambulatory Surgery Centers, Statistical Methods, and Pay-For-Performance Highlighted In the Latest INQUIRY Journal
9. Medicare Every Diabetic Counts Project Gears Up for Kick-Off
10. Medicare Cuts to Physicians Will Harm Washington Seniors
11. More than 10,000 Medicare Patients in Montana Could Be Hit by Proposed Cuts to Home Oxygen Therapy; Access to Power Wheelchairs Would Also Decrease
Post Your Comments:
(Date:10/13/2017)... LEXINGTON, Ky. (PRWEB) , ... October 13, 2017 , ... ... MD, MPH to become its next President and Chief Executive Officer, succeeding Dr. James ... and CEO Elect beginning July 1, 2018 until Dr. Puffer’s retirement at the end ...
(Date:10/13/2017)... ... October 13, 2017 , ... PurhealthRX , a leading Health ... technology. Applying the Purzorb™process to full spectrum CBD oil will revolutionize the rapidly growing ... form that can be easily incorporated into liquid products, while reducing costs to end ...
(Date:10/13/2017)... , ... October 13, 2017 , ... Lori R. Somekh, ... member of ElderCounsel, a national organization of elder law and special needs planning attorneys. ... and rules. It also provides a forum to network with elder law attorneys nationwide,” ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Many families ... However, many long-term care insurance companies have a waiver for care if the client ... elimination period, when the family pays for care, is often waived, so the benefits ...
(Date:10/13/2017)... NY (PRWEB) , ... October 13, 2017 , ... Ellevate ... people in business to advocate for action towards gender equality at their inaugural Summit ... from around the globe, and reached a social audience of over 3 million. To ...
Breaking Medicine News(10 mins):
(Date:10/4/2017)... OBP Medical , a leading ... today announced regulatory approval from Brazil,s ... Nacional de Vigilância Sanitária (ANVISA)) to market ... with integrated LED light source and smoke evacuation ... of a tissue pocket or cavity during surgical ...
(Date:10/2/2017)... -- AllianceRx Walgreens Prime, the combined central specialty pharmacy and ... manager Prime Therapeutics LLC (Prime), today officially began the ... of new signage at its headquarters in ... few other company-owned facilities across the country. This also ... whom will begin to see the AllianceRx Walgreens Prime ...
(Date:9/28/2017)... 28, 2017 Hill-Rom Holdings, Inc. (NYSE: HRC), ... call and webcast on Friday, November 3, 2017, beginning ... ending at approximately 8:30 a.m. (CDT) / 9:30 a.m. ... 2017 financial performance and guidance for 2018, Hill-Rom executives ... enhance operational performance, and long-range financial outlook through 2020. ...
Breaking Medicine Technology: