What are Medicare Drug Formularies?

What are Drug Formularies For Medicare Plans? Medicare Prescription drug lists (formularies) are lists of covered drugs, placed into different tiers, where each tier has different costs. Each Medicare plan that provides drug coverage has its own list of covered drugs and costs that follow a set of common rules. Below we will explain more about…

Medicare and Hospital Costs

Medicare and Hospital Costs: Medicare Networks, Medicare Assignment, Balance Billing, and Other Factors Related to Hospital Costs On this page, we discuss Medicare networks, Medicare assignment, balance billing, and the way hospital costs vary within a hospital (such as in the ER). Hospitals often charge more, sometimes a dozen times more, for services provided in the emergency…

What is Medicare and How Can You Qualify?

What is Medicare? We explain what Medicare is, how you can qualify for Medicare, and how the Affordable Care Act affects Medicare. Medicare is a federal health insurance program that most people pay into while working and all citizens can access when they turn 65. Medicare is funded by two trust funds held by the US Treasury: the Hospital…

Is the Medicare Shared Savings Program Working?

The Medicare Shared Savings Program (MSSP) established by the ACA allows healthcare providers to group together under ACOs to get paid for quality over quantity. Initial reports show savings for Medicare and providers under the Accountable Care Organization (ACO) model established under the ACA. Not all the initial “Pioneer ACO” groups faired equally as well, but overall…

“Doc Fix” Medicare Access and CHIP Reauthorization Act of 2015

The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA aka the “doc fix”) replaces the SGR formula, cuts Medicare spending, and extends CHIP. In this video President Obama Signs ‘Doc Fix’ Law Into Effect Thursday, April 16, 2015. The information below is a summary of the passing of MACRA and why it is important. See the…

I have Medicare. Do I Need ObamaCare?

If you have Medicare, keep it. You don’t need to get ObamaCare and you won’t owe the fee. It’s illegal for private insurers to sell you a non-Medicare plan.

Medicare Part B Requirement?

Only those over 65 with access to Medicare need to enroll in Medicare. Your monthly premium for Part B may go up 10% for each full 12-month period that you could have had Part B, but didn’t sign up for it.