Health Insurance Archives - Page 51 of 52

$25 Billion Medicare Cuts Possible Due To Republican Tax Bill

The GOP tax bill that the Republicans have been working on, can lead to major cuts in Medicare funding and spending in 2018. The bill is estimated to cut $25 billion from Medicare starting 2018, and resulting in $400 billion over the next ten years.

The Congressional Office has estimated a $1.5 trillion deficit to over the next 10 years due to the tax bill.

In 2010, Washington passed a “pay as you go” rule which requires any new laws to be deficit neutral. Basically if there is not enough economic growth to balance the money lost, then the Office of Management and Budget has to cut spending. Unfortunately, it is likely that one of the spending cuts will be to Medicare.

The tax bill does not exactly say that it will cut spending on Medicare, it will be an unintended result. Some Republicans stated that the cuts would affect doctors, health providers, and hospitals, not Medicare beneficiaries. They have also had talks to try and change the Medicare eligibility age from 65 to 67.

House Speaker Paul Ryan seems to threaten cuts to Medicare saying “we’re going to have to get back next year at entitlement reform, which is how you tackle the debt and the deficit. I think the President is understanding choice and competition works everywhere, especially in Medicare.”

A major issue with the possible cuts is that Medicare beneficiaries could end up being kicked off of their current Medicare plan, or receive fewer benefits.

Juliette Cubanski, associate director of the Program on Medicare Policy at the Kaiser Family Foundation says, “these cuts could be one bad side effect of this tax legislation. Many providers may be able to absorb the payment reductions if they have a very diverse patient base. But others who rely primarily on Medicare may find this cut really difficult to deal with.”

While many are uneasy with the possible cuts, House Majority Leader Kevin McCarthy says that it is all a scare tactic by the Democrats, and that Medicare cuts will not occur. He states “the Republicans have been wanting to have this fixed for quite some time. When Obamacare went in, it cut Medicare. We have been trying to make our entitlement sustainable into the future.”

Roughly 54 million Americans currently receive Medicare benefits. Many fear the cuts will leave many Americans without coverage or unattainable expense to have coverage. However, McCarthy claims lawmakers will find a way to avoid the Medicare tax cuts.

Uber Launching ‘Uber Health’

Uber has announced a new business line called Uber Health that will provide a ride-hailing platform for healthcare providers. Uber is offering to take patients to their medical appointments, as long as they are operating in the area. The health care providers that will use this business will be the ones billed for the services, not the patients.

Health care providers can set up car ride appointments within a few hours or up to thirty days in advance for patients. In order to ensure anyone can use this service, Uber has stated that the patient will not be required to have the Uber app or a smartphone. The company will use text messages to coordinate the rides, and they will have the ability to utilize both mobile and landline features to communicate with patients.

A centralized dashboard will let providers in the healthcare industry be able to assist their patients with transportation that is in compliance with HIPAA, Health Insurance Portability and Accountability. The health provider will put in the client’s name, number, pick up and drop off locations, and then choose one of Uber’s ride-hailing vehicle type. The client will receive a text message or voice call notifying them of the booking. The system has a management system that will keep track of all of the billing and reporting.

Uber began testing the platform last summer with over 100 healthcare providers signing up including clinics, hospitals, rehabs and physical therapy centers. The reason for starting the service is due to statistics claiming that 3.6 million Americans miss medical appointments because they lack reliable transportation.

“There are a lot of people out there who are not going to the doctor simply because they can’t physically make it there,” said Uber Health executive Jay Holley.

“If there are people who are missing their appointments because they’re using an unreliable bus service to get to and from their healthcare provider, this is a great solution for them,” Chris Weber, general manager of Uber Health, told in an interview. “The types of individuals this is valuable for really is limitless.”

“Uber’s endeavors into health care trace back to 2014, when Uber first offered on-demand flu shots in large markets across the U.S.,” he said, regarding the genesis of the focus on health within Uber. “Since then there have been similar efforts throughout the world, from diabetes and thyroid testing in India to subsidized rides for breast cancer screening in the U.S., to many more. That said, all of these efforts have been pop-ups.” This all led them to figure out a way to make a more permanent solution to reducing missed appointments.

In order to comply with HIPAA, Uber drivers will not be told or aware that they are driving someone that is using Uber Health. The drivers will have a limited amount of information such as the passengers’ name, and their pickup and drop off points.

Uber wanted to make it clear that they are not a replacement for an ambulance or for emergency situations. They will not be sent to transport people who need immediate attention. Uber hopes to help lessen the gap of Americans missing their doctor appointments, and focus on wheelchair accessibility for those who need it. Weber said, “It’s definitely something we’re focused on making a better, more reliable experience, but as of now this is really focused on reaching out to the existing driver network.” Uber is hoping to expand in more than 250 cities in the U.S. and make this new line of business successful.

Healthcare Rates to Rise in 2019

In 2017 when President Trump did away with cost-sharing subsidies, it forced insurers to raise premiums. The cost-sharing subsidies helped pay back insurers for giving customers lower premiums due to their income status. Due to the halt in the subsidies, health-insurance premiums have been rising for those who have to buy their own insurance, approximately 34% in 2018 for silver plans. Insurers are now brainstorming what they will charge and if they want to participate in the ACA exchanges for 2019.

Insurers have been participating less and less in the market exchange, leaving customers with fewer choices. If more insurance companies decide to pull out of the exchanges, it will mean that customers will have even fewer choices available to them, at higher costs.

Premiums will continue to keep growing without the cost-sharing subsidies to help with the costs impacted on insurers. The hike in premiums could be as much as 30% for 2019. It is projected that those that will be impacted the most are those who make too much money to qualify for premium support subsidies.

Eyles and Ceci Connolly, president and CEO of Alliance of Community Health Plans both voiced their disappointment of Congress failing to take action to fund cost-sharing subsidies.

“What’s happened is that several pieces of the puzzle have been pulled away. It is hard for me to isolate CSRs, what we are looking at now is a puzzle that is falling apart piece by piece,” Connolly said. “Losing the individual mandate, losing the cost sharing reduction subsidies and losing any hint of reinsurance, not to mention the risk corridors that were already gone, you’re just running out of options to manage the cost of this program.”

Midterm elections are approaching which brings up the issue of health care. While both political parties will be criticized, the polls have shown that voters hold Republicans more responsible for the high costs. Both parties have come to an agreement to include health insurance funding in the spending law, but could not agree on the details of what to fund exactly. Republicans are pushing for abortion restrictions stating insurers can cover abortions but cannot use federal funding for them, while Democrats do not agree.

Lawmakers are hoping the stabilization effort of adding funding to the bill to offset the costs of insurance, but health-policy experts disagree on how much it will help. Health experts state that the higher premiums will be offset for people by other subsidies they will be qualified for.

Republicans are not thrilled to stand behind the idea of the stabilization funding because they view it as saving the insurers of a health law, ACA, which they promised voters they would repeal. They blame the ACA’s regulations which stopped competition and drove up premium costs. Congress is leaning towards unlikely passing the stabilization bill.

Insurers are expected to announce the premium price hike sometime in the fall.

There Is NO Open Enrollment For Medicare Supplement Plans

Medicare Supplement Insurance Does Not Have a Deadline

Many senior citizens think that the Medicare Open Enrollment period is the only time they can purchase a Medicare Supplement plan. But, there is no deadline to purchase Medicare Supplemental Insurance. During the Medicare Open Enrollment Period, everyone is busy picking a plan that is best for them. Some retirees rush into a new plan without focusing on the coverage, and some may miss the period. Missing the period does not mean you miss the opportunity to change or purchase a plan. You can change or buy it year round.

In order to actually sign up for a Medicare Supplement Insurance Plan, you must be 65 and have Original Medicare. You are most eligible to be guaranteed issue rights when purchasing a plan six months from when you turn 65. Guaranteed issue is the protected right that an insurer cannot deny you or raise rates due to pre-existing conditions.

While there is no deadline to buy or change a Medicare Supplement Plan and anyone eligible is able to buy a plan any time of the year, it comes with a catch. Medicare Supplement Insurers do have the right to ask you questions regarding your health. They can then determine if they want to insure you, deny you, or raise your rates due to pre-existing conditions. This is possible because you will not have guaranteed issue rights.

Picking a Medicare Supplement Plan can be a long and tough process. There can be questions you have about the coverage, costs, and the different types of plans. EZ.Insure offers you a trained one on one agent to assist in figuring out the process, coverage, and sign you up. We compare all plans for you, and find the best prices. Enter your zip code in the bar above to receive quotes, or contact your own advisor by calling 855-220-1144, or e-mailing [email protected]. We promise to provide the best service with no obligations, it’s that easy!

Changes To Medicare Advantage in 2018

Medicare Advantage Plans have become very popular over the years, and like other insurance plans, changes occur every year. The most common changes are the list of drugs that are covered, how much your insurance company charges for them, premiums, and the percentage the plan pays towards your medical expenses. Changes can leave customers confused and with fewer options so it is important to look out for changes in the year ahead in order to get the proper care you need.

Changes in existing plan

Insurance companies will notify customers of changes in their existing Medicare Advantage plan occurring the following year. It is important to look over the changes of your current plan, and determine if these changes will cover your needs next year.

Loss of State Health Insurance Assistance Programs

State Health Insurance Assistance Programs, also known as SHIPS, aim to assist people with their Medicare options and compare Medicare Advantage plans. They provide counseling in every state, which is useful when trying to pick a Medicare plan for the year. These programs are funded by the federal government, but due to the Trump Administration’s budget cuts, it can be discontinued. The budget will eliminate funding of these state assistance programs by 94%, possibly eliminating them. However, EZ.Insure will continue to assist people with their Medicare and Medicare Advantage options even after these programs are gone. EZ.Insure always provides constant counseling, and help seeking the most ideal plan.

Network coverage

Insurance companies are constantly looking for doctors, hospitals, and other healthcare providers with cheaper rates to save money. The insurers negotiate with these providers to find the lowest cost each year, which is why plans change their network coverage every year. In the past couple of years, the network of providers has gotten smaller, with fewer specialists. It is important to make sure that your physician or specialists are included in your network year to year.

Loss of insurers

Reports from the Kaiser Family Foundation found that as of 2017, 147 counties across 14 states do not have Medicare Advantage plans. Some rural counties have been left with either only one or no insurers to choose from. If a Medicare Advantage plan is not an option, some people should consider a Medicare Supplement plan.

With all the changes occurring in the upcoming year, and loss of network coverage, it can be difficult to find a plan. At EZ Insure, we are dedicated to helping you compare and find a plan in your region. Contact us through email, [email protected], or enter your zip code in the link above to receive a quote. We make it that easy.

Medicare Part B Rates Fluctuating In 2018

The fourth quarter is when senior citizens learn about their social security benefits and Medicare. They find out if they will receive higher social security, and how much, also how much monthly premiums will be for Medicare. Most people with Medicare will face higher premiums in 2018.

Medicare Part B insurance covers outpatient care, preventative services, ambulance services, laboratory tests, and durable medical equipment.

The Part B premium increases will not only will this affect older adults who were stable due to their social security benefits, but it will affect a large number of low-income seniors who struggle on a fixed income.

“Hold Harmless”

In order to protect senior citizens living on fixed incomes, a federal law provision, “hold harmless,” prevents Medicare from raising Part B premiums more than their annual cost-of-living adjustment (COLA) from Social Security. The premiums are being automatically deducted from their Social Security checks. About 70 percent of Medicare enrollees are protected by the “hold harmless” rule.

In 2016, there was no Social Security COLA, so those under “hold harmless,” did not have their Part B premiums rise that year. Last year, Social Security gave enrollees .03 percent COLA, raising premiums from 104.90 to $109 for the hold harmless group. But, Medicare enrollees not in the group (30%) had to pay the full raise in premium, $134.

The Changes

In 2018, the cost-of-living adjustment will go up 2%, which is the highest raise in six years that senior citizens have received. This year, the Medicare Part B premium has remained unchanged from last year’s $134 a month. Because of the premium remaining unchanged, majority of seniors that were protected by the hold harmless provision will be get hit with a major increase in their premium. They will be expected to go from paying $109 a month, to $134 a month, a $25 a month increase. The $25 these senior citizens will be paying leaves them will little to no money for expenses.

Enrollees who are not part of the group, about 30 percent, will not see any additional costs because they already took the hit the previous year.

For high-income enrollees, the more you have the more you pay. Their Part B premiums will increase depending on their income, rising anywhere from $187.50 to $428.60.

Income (adjusted gross income plus tax-exempt interest income):
Single tax return	Married filing jointly	Monthly Part B premium (per person)
$85,000 or less	$170,000 or less	$134 (may be less if covered by the hold-harmless provision)
$85,001 to $107,000	$170,001 to $214,000	$187.50
$107,001 to $133,500	$214,001 to $267,000	$267.90
$133,501 to $160,000	$267,001 to $320,000	$348.30
More than $160,000	More than $320,000	$428.60

Other Alternatives

Head of the Centers for Medicare and Medicaid Services, Seema Verma said in a news release, “We encourage Medicare beneficiaries to explore their options to make an informed choice between original Medicare and Medicare Advantage before open enrollment ends on Dec. 7.”

It is a good time to begin exploring other options, to avoid the large financial hit from the increase of Part B premiums. Medicare Advantage plans, Part C, have become popular, offering all that Medicare offers, sometimes cheaper. Instead of having to enroll in Part A, and Part B, and buying a separate Part D (prescription drug plan), Medicare Advantage has all of these under one plan. Medicare Advantage also offers an annual out-of-pocket limit, meaning once you have reached this limit, you will have no more out of pocket expenses.

Another option to consider helping pay for Part B premiums is a Medicare Supplement plan. These plans help pay the 20% that Medicare leaves up to the individual to pay.

It may be confusing comparing plans and figuring out which will tailor your needs, on a budget. EZ.Insure ensures finding you the best Medicare Advantage or Medicare Supplement plan in your region, within your financial plan. Get a quote by entering your zip code in the bar above. You can also call 888-753-7207, or email [email protected].You will be assigned your own highly trained agent to fulfill your needs.

Tag: Health Insurance