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WHAT’S NEW IN MEDICARE?
Congress Passes New Medicare Bill
Congress overrode a Presidential veto to pass a New Medicare bill. The new bill will prevent a 10% pay cut to doctors who treat patients on Original Medicare, but will cut payments to insurance companies that offer Medicare Advantage plans (and will slow the growth of such plans).
Approximately 25% of Medicare recipients are enrolled in Medicare Advantage plans. While some contend that Medicare Advantage plans cost the government more per person than Original Medicare, the President vetoed the bill because he said that reducing payments to the plans “would force them to reduce benefits.”
The new law also sets strict standards for the marketing of Medicare Advantage plans, some of which have been criticized for their sales tactics. Additional provisions in the new law will reduce co-payments for mental health services, and will increase assistance to those with lower incomes.
However, it will also delay a competitive bidding program for suppliers of medical equipment (such as oxygen tanks and power wheelchairs). This was another reason why the President vetoed the bill, saying that competition “should be expanded, not diminished.”
Finally, the new bill does not fix the fundamental flaws in the formula Medicare uses for paying doctors, and unless a new law is passed doctors will face a 20% cut in their Medicare payments by the end of 2009.
Source: New York Times
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LINKS TO PAST ARTICLES
- Identity Theft Risk With Medicare Cards?
- Regulating Marketing of Medicare Advantage Plans
- Lowering Medicare Costs For Chronic Illness (April 2008)
- Heart Scans Stll Covered By Medicare (March 2008)
- Cost of Medicare Advantage Plans Questioned (February 2008)
- Part D Premiums To Rise (February 2008)
- Medicare Covers Shingles Vaccine (February 2008)
- Slower Growth in Medicare Budget (January 2008)
- Retirement Plans May Cut Health Insurance Benefits (January 2008)
- Medicare Cuts Payout on 2 Cancer Drugs (December 2007)
- CareGiver Costs Rise (November 2007)
- Part B Premiums To Rise (October 2007)
- Part D Premiums Lower in 2008 (August 2007)
- Medicare Changes Coverage For Anemia Drugs (August 2007)
- How Can Medicare Help Me Stay Healthy? (July 2007)
- Home Infusion Therapy (June 2007)
- 5 Ways to Lower Your Drug Costs (April 2007)
- New Edition of the Guide to Home Health Care Agencies (May 2007)
- Social Security and Medicare Trustees’ 2007 Report Summary (May 2007)
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