Medicare Supplement Plans Archives - Page 4 of 17

What is The 8-Minute Medicare Rule?

If you are new to Medicare, then you probably have not heard of the 8 Minute Medicare rule. It is a phrase that many Medicare beneficiaries come across, but do not know exactly what it means or pertains to. If you are a seasoned Medicare beneficiary, then you might be familiar with Medicare’s 8-minute rule. It is important to understand what the 8-Minute Rule is because the term can be misleading and confusing.

What Is The 8-Minute Rule?

stopwatch — *The 8-Minute Rule applies for outpatient services that are provided between 8 and 22 minutes.*

The 8-Minute-Rule was introduced in December 1999 and became effective on April 1st, 2000. It is a stipulation that applies to time-based CPT codes (Current Procedural Terminology codes) for outpatient services that are provided between 8 and 22 minutes. A typical outpatient service in which the CPT code applies is physical therapy. It allows practitioners to bill Medicare for one unit of service if its length is at least 8 minutes but fewer than 22 minutes. A billable “unit” is the time interval for the service, and under the 8-Minute-Rule, you need the service to consist of 15 minutes each.

How Does the 8-Minute Rule Work?

The rule applies only to services when the practitioner has direct contact with the patient, so it has to be in person. If you have received more than one service, then Medicare will be billed based on the total timed minutes per meeting. If you are seen by the doctor for less than 8 minutes, then Medicare will not be billed for it.

Services are billed in 15-minute units, so if you are seen by a doctor for 20 minutes, Medicare will be billed for one unit, because the number falls between 8 minutes and 22 minutes. If you are there for let’s say23 minutes, then Medicare can be billed for two units. If the service takes 38 to 52 minutes, then the healthcare provider can charge for three units, and so on as the 15-minute interval pattern continues. The chart below can help guide you:

Outpatient providers that follow the 8-Minute-Rule include:

Private practices
Rehabilitation Facilities
Skilled Nursing
Home Health agencies
Hospital outpatient Departments

A Medicare Supplement Plan can help provide extra coverage and savings throughout the year.

Extra Coverage

Medicare Part B, which covers the costs of most medical services, only covers 80% of these costs. This will leave you with the remaining 20% to pay out-of-pocket, but a Medicare Supplement Plan can help you pay for the medical expenses that aren’t covered by Medicare Part B. One of these plans can help you save hundreds, or maybe even thousands of dollars each year.

There are 10 different plans to choose from, and depending on which plan you choose, you could get anywhere from 75% coverage of your medical expenses up to 100%. Each plan offers a range of coverage at different price points and can help save you money and keep you from stressing over medical bills, leaving you with more time and energy to focus on your health.

EZ can compare all 10 Medicare Supplement Plans and find the one that will meet your financial and medical needs. Our agents work with the top-rated insurance companies in the nation, which makes comparing plans easy, quick, and free – our services come at no cost to you because we just want to help you save money so you can focus on your health. To get free instant quotes on plans that cover your doctors, simply enter your zip code in the bar above, or to speak to a local licensed agent, call 888-753-7207.

How Inflation Is Affecting Projected Medicare IRMAA Brackets for 2023

Every year, Medicare rates go up, and so the brackets for the Income-Related Monthly Adjustment Amount, or IRMAA, also change. Knowing the IRMAA brackets is important because if you make a certain amount, you could end up paying more for Medicare. While the IRMAA brackets are not out for 2023 yet, they will be released within the next 2 months. Let’s look at some projections, so you can be better prepared for next year.

What is IRMAA?

As we pointed out above, IRMAA is short for Income-Related Monthly Adjustment Amount, which is an additional surcharge for higher-income Medicare beneficiaries. The theory behind scaling Medicare rates is that those who have higher incomes can afford to pay more for their premiums, so can put more money into keeping Medicare going. That means there is an additional monthly charge for Medicare Part B and Medicare Part D premiums for people who can afford to pay these additional charges.

How Is the IRMAA Calculated?

The adjusted gross income you declare on your taxes dating back two years will determine how much you will pay for your Medicare premiums. For example, your 2023 Medicare Part B and D premiums will be based on your tax return from 2021.

Projected IRMAA Brackets for 2023

The 2023 IRMAA brackets have not been finalized yet; typically the next year’s brackets are determined as soon as the Social Security Administration announces its cost of living adjustment (COLA), which is usually in November or December. It is expected, though, that the IRMAA will increase to more than $91,000 for individuals and $182,000 for joint filers, meaning beneficiaries making more than that amount can expect to pay more in Medicare premiums.

gold piggy bank — *The best way to save is by working with an agent and investing into a Medicare Supplement Plan that can sav you hundreds of dollars.*

It’s important to note that if you think you have been put into the wrong bracket, you have the opportunity to appeal the surcharge, especially if you have had a life-changing event that has had an impact on your income. This type of life-changing event can include a work stoppage, marriage, or divorce.

Looking To Save?

A Medicare Supplement Plan can help you pay the medical expenses that aren’t covered by Medicare Part B, helping you save hundreds, or maybe even thousands of dollars each year.

Medicare Supplement Plans can cover your Part A deductible and coinsurance costs, as well as your Medicare Part B copayment, coinsurance, and deductible. There are 10 different plans to choose from, and depending on which plan you choose, you could get anywhere from 75% coverage of your medical expenses up to 100%. Each plan offers a range of coverage at different price points; if you are worried about rising Medicare costs, a Medicare Supplement Plan is a great option, since you’ll only have to pay your Medicare Supplement Plan monthly premiums.

EZ can compare all 10 Medicare Supplement Plans and find the one that will meet your financial and medical needs. Our agents work with the top-rated insurance companies in the nation, which makes comparing plans easy, quick, and free – our services come at no cost to you because we just want to help you save money so you can focus on your health. To get free instant quotes on plans that cover your doctors, simply enter your zip code in the bar above, or to speak to a local licensed agent, call 888-753-7207.

How Does Medicare Handle ALS Coverage

Amyotrophic Lateral Sclerosis (ALS) affects as many as 30,000 Americans in any given year. The risk of ALS increases with age, most commonly developing in those between the ages of 40 and mid-60s. So, since an estimated 51% of people who have it are older than 70 years, it’s important to understand how Medicare covers this disease, in case it affects your life.

ALS Explained

ALS, also known as Lou Gehrig’s disease, is a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord. Around 5 to 10% of all ALS cases are familial, meaning they have been inherited from a parent. The familial form usually only requires one parent to be a carrier of the disease, which is caused by mutations in more than a dozen genes.

ALS will often start in the hands, feet, or limbs, and then spread to other parts of the body, and will usually begin with muscle twitching, weakness, or slurred speech. As it advances, nerve cells are destroyed, creating weaker muscles that will eventually affect chewing, swallowing, speaking, and breathing. Unfortunately, there is no cure for ALS.

Risk Factors

Family members with the disease- 5-10% of people with ALS inherited it from a parent.
Age– Risk increases with age; diagnosis is most common between the ages of 40 and mid-60s.
Sex- More men under the age of 65 develop ALS than women in the same age group, but after age 70, the difference between the sexes disappears.
Genetics– Some studies examining the entire human genome have found many similarities in the genetic variations of people with familial ALS and some people with non-inherited ALS
Smoking

ALS & Medicare

If you are diagnosed with ALS, no matter if you’re 65 or not, you can enroll in Medicare once you are also receiving Social Security disability benefits. In the past, if you were younger than 65 and were diagnosed with ALS, you were required to undergo a 5-month waiting period to get your Medicare and SSDI benefits. As of July 23, 2020, though, people with ALS no longer have to wait five months, and are eligible for automatic enrollment into Medicare Parts A and B the first month they receive SSDI.

Extra Coverage Options

If you’re a Medicare enrollee with ALS, you can choose a Medicare Part D Plan when you become eligible for Medicare, which will help with the cost of prescription drugs. But, you also have the option of purchasing a Medicare Supplement Plan, which can help pay for the things that Medicare does not, including the 20% coinsurance that you will have to pay out-of-pocket for every Part B expense. One of these plans could cover 100% of your Part A coinsurance and hospital costs, as well as 100% of Part B coinsurance and copayments, for one low monthly premium price.

There are 10 different Medicare Supplement Plans to choose from, each offering different coverage options and rates. It’s worth looking into a Medicare Supplement Plan to save as much money as you can, so speak to an EZ agent for all of your options. EZ’s agents work with the top-rated insurance companies in the nation and can compare plans in minutes for you at no cost. To get free instant quotes for plans that cover your current doctors, simply enter your zip code in the bar on the side, or to speak to a licensed agent, call 888-753-7207.

Medicare Patients With Blood Cancer Face High Costs That May Impact Treatment

September is Blood Cancer Awareness Month. We wanted to talk about this important topic this month especially because, according to a new report from the Leukemia and Lymphoma Society, while survival rates for older patients with blood cancers have been improving, rising healthcare costs have meant that less than half of newly diagnosed patients are receiving treatment for their cancer. And as with any cancer, early treatment is crucial to beating the disease. Find out how Medicare helps those who are dealing with blood cancer, and what patients can do to make the cost of treatment less of a barrier to receiving care.

What the Study Shows

The study mentioned above analyzed costs that are incurred by Medicare beneficiaries who have been newly diagnosed with acute leukemia, chronic leukemia, lymphoma, multiple myeloma, and bone marrow disorders, and found that older patients are at a disadvantage when it comes to the cost of care.

“Along with the substantial healthcare costs associated with the treatment of patients with blood cancer comes substantial OOP [out-of-pocket] costs for patients,” the researchers wrote in the report. “In particular, because of the Medicare Part A, B, and D benefit design, the OOP burden can be greater for Medicare beneficiaries compared to commercially insured patients.”

In fact, when expenses were the highest (generally in the month patients were diagnosed), the average amount spent by patients, depending on the type of blood cancer, was anywhere from almost $18,000 to $178,000.

These greater costs mean older adults aren’t getting the care they need. Of Medicare beneficiaries who are newly diagnosed with blood cancer, only 43.7% of them receive therapy within 90 days of receiving their diagnosis.

“In addition to the emotional impact of dealing with a blood cancer, patients and families often face extraordinary costs in the first year after diagnosis and beyond,” Louis J. DeGennaro, Ph.D., LLS president, and chief executive officer, said in a statement. “The Leukemia & Lymphoma Society hopes that the findings from this new study will prompt payers, providers, patient advocates, and policymakers to work together to address the financial burdens for patients.”

Medicare Coverage

Medicare helps pay for many of the expenses incurred when diagnosing and treating blood cancers, such as leukemia. But Medicare Part B, which covers the costs of cancer prevention and treatments, only covers 80% of these costs. This will leave you with the remaining 20% to pay out-of-pocket, but there is help. You can enroll in a Medicare Supplement Plan to help cover these costs. A Medicare Supplement Plan can help you pay the medical expenses that aren’t covered by Medicare Part B, helping you save hundreds, or maybe even thousands of dollars each year.

Medicare Supplement Plans can cover your Part A deductible and coinsurance costs, as well as your Medicare Part B copayment, coinsurance, and deductible. There are 10 different plans to choose from, and depending on which plan you choose, you could get anywhere from 75% coverage of your medical expenses up to 100%. Each plan offers a range of coverage at different price points; if you are battling cancer, your best option is to get the plan with the most coverage possible, so you will only have to worry about paying your Medicare Supplement Plan monthly premiums.

Medicare Supplement Plans can help save you money and keep you from stressing over medical bills for your cancer treatments, leaving you with more time and energy to focus on your health. EZ can compare all 10 Medicare Supplement Plans and find the one that will meet your financial and medical needs. Our agents work with the top-rated insurance companies in the nation, which makes comparing plans easy, quick, and free – our services come at no cost to you because we just want to help you save money so you can focus on your health. To get free instant quotes on plans that cover your doctors, simply enter your zip code in the bar above, or to speak to a local licensed agent, call 888-753-7207.

What Isn’t Covered in Medicare’s Annual Wellness Visit

If you’re new to Medicare, you might be a little confused about what is covered by Medicare and what isn’t. But it’s very important to understand your coverage, because assuming a visit or treatment is covered when it isn’t could mean receiving a surprisingly large bill in the mail. For example, as a Medicare beneficiary, you can see your doctor every year for an annual wellness visit, but some things are not covered during this visit. Find out what isn’t covered so you can avoid an unexpected bill.

What Can You Expect at an Annual Wellness Visit?

If you’ve had Medicare Part B for longer than 12 months, you can get an annual wellness visit. This wellness visit isn’t a physical exam; it’s meant to help you create or update a personalized health plan for preventing disease and disability, based on your current health and risk factors.

During your annual wellness visit, your doctor will ask you to fill out a questionnaire called a “Health Risk Assessment,” so they can develop a more personalized prevention plan for you. They will also:

Review your medical and family history.
Review your current providers and prescriptions.
Check your height, weight, blood pressure, and other routine measurements.
Offer personalized health advice.
Provide a list of risk factors and treatment options for you.
Create a screening schedule (like a checklist) for appropriate preventive services, and give you details about coverage for screenings, shots, and other preventive services.
Provide advance care planning

Your doctor will discuss your health and any changes in your household, and work together to create a personal health plan for the year ahead.

What Is Not Covered?

Sick visits– If your time with your doctor involves a discussion of an illness or symptoms, and your doctor recommends care or a treatment plan, you will be charged a copay and/or have to meet your deductible.
Chronic illnesses– Your visit will not cover any discussion, treatment, or prescription of medications for chronic illnesses or conditions, such as high blood pressure, high cholesterol, or diabetes. If it does, you will be charged a copay and/or a deductible.

Extra Coverage

So, while your Medicare annual wellness visit is an excellent tool for keeping you healthy, there are important things that it doesn’t cover. Not only that, but in general, Medicare Part B will only cover the cost of any services or treatments you receive at 80%, leaving you to pay the other 20% out-of-pocket. This can get quite expensive, especially if you are living on a fixed income, as many Medicare beneficiaries are. Fortunately, though, you can save money on all your medical expenses and get extra coverage by purchasing a Medicare Supplement Plan.

There are 10 different Medicare Supplement Plans to choose from, each offering different coverage options and rates. It’s worth looking into a Medicare Supplement Plan to save as much money as you can, so speak to an EZ agent for all of your options. EZ’s agents work with the top-rated insurance companies in the nation and can compare plans for you in minutes at no cost to you. To get free instant quotes for plans that cover your current doctors, simply enter your zip code in the bar on the side, or to speak to a licensed agent, call 888-753-7207.

Do Military Retirees Have To Pay for Medicare?

Military personnel generally get special healthcare benefits while they are serving, and after they are retired. But if you’re a veteran, and you’re about to turn 65, you might be wondering if you can continue to use your military healthcare alongside Medicare, or if you will have to switch to Medicare. The short answer to this is that military retirees can use their Veterans Affairs benefits alongside Medicare.

Medicare Isn’t Mandatory

invoice in an envelope with a hand next to it with money — *Medicare is not mandatory, but you will have a penalty to pay if you choose not to enroll.*

Medicare is not mandatory for anyone, so you can choose not to enroll at all. But if you choose to wait, and then enroll outside of your Initial Enrollment Period (and don’t qualify to delay your enrollment), you could face late enrollment penalties. In other words, you don’t have to enroll in Medicare if you have VA benefits, but you can, and should if you think you might want the benefits. In fact, the Veterans Administration actually recommends veterans enroll in Medicare when they become eligible, so they can have both types of benefits available to them.

Should You Have Both Medicare & VA Benefits?

So why enroll in Medicare if you already have VA benefits? Your VA benefits may not pay for everything you need, so it’s wise to have both types of plans. Having both means that you can use your VA benefits to receive care at a VA hospital facility, and your Medicare benefits at a Medicare facility. Be aware, though, that you cannot use Medicare benefits at a VA facility and vice versa.

How Benefits Work, and Extra Coverage Options

If you are a military retiree and are 65, you can enroll in Medicare, which requires that you meet annual deductibles, and pay a monthly premium and coinsurance (for Part B). But you will also be automatically enrolled in the VA’s Tricare for Life, a no-cost insurance package that can help fill these gaps in Original Medicare coverage.

If you need more help paying for what Original Medicare does not cover, you also have the option of enrolling in a Medicare Supplement Plan. It’s important to note that Medicare Part B only covers 80% of the cost of treatments, which means you will have to pay the remaining 20% out-of-pocket. This can be quite expensive, even with VA benefits, if you plan to see doctors who are outside of the VA system. Fortunately, though, you can save money on medical expenses and get extra coverage by purchasing a Medicare Supplement Plan.

There are 10 different Medicare Supplement Plans to choose from, each offering different coverage options and rates. It’s worth looking into a Medicare Supplement Plan to save as much money as you can, so speak to an EZ agent for all of your options. EZ’s agents work with the top-rated insurance companies in the nation and can compare plans in minutes for you at no cost. To get free instant quotes for plans that cover your current doctors, simply enter your zip code in the bar on the side, or to speak to a licensed agent, call 888-753-7207.

Tag: Medicare Supplement Plans

What is The 8-Minute Medicare Rule?

What Is The 8-Minute Rule?

How Does the 8-Minute Rule Work?

Extra Coverage

How Inflation Is Affecting Projected Medicare IRMAA Brackets for 2023

What is IRMAA?

How Is the IRMAA Calculated?

Projected IRMAA Brackets for 2023

Looking To Save?

How Does Medicare Handle ALS Coverage

ALS Explained

Risk Factors

ALS & Medicare

Extra Coverage Options

Medicare Patients With Blood Cancer Face High Costs That May Impact Treatment

What the Study Shows

Medicare Coverage

What Isn’t Covered in Medicare’s Annual Wellness Visit

What Can You Expect at an Annual Wellness Visit?

What Is Not Covered?

Extra Coverage

Do Military Retirees Have To Pay for Medicare?

Medicare Isn’t Mandatory

Should You Have Both Medicare & VA Benefits?

How Benefits Work, and Extra Coverage Options

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