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#PersonalFinance | For people with dependent parents, the first step should be to get them medical insurance early. This takes care of any sudden hospitalizations and related treatment costs. However, insurance does not cover at-home care services, like an attendant or home nurse, and costs of medical equipment installed at home, if any. (Shipra Singh reports) Read here: https://lnkd.in/gvT2QCe4

Please take action. I did. Currently, Medicare beneficiaries who are not officially admitted to a hospital may be classified under “Observation Status,” which is treated as an outpatient procedure for billing purposes. Unfortunately, the common practice of placing a beneficiary on “observation status” can have significant financial consequences for Medicare beneficiaries, since Medicare Part A and its related coverage rules only apply to actual inpatient care admissions. This may lead patients, many who are extremely sick and may need skill nursing care (SNF) to spend many days in the hospital and be charged for services that Medicare would have otherwise paid had they been admitted. Furthermore, hospitals have up to one year to retroactively change admission status to observation, leading unsuspecting beneficiaries with thousands of dollars in bills for SNF care they believed would be covered by Medicare. Bipartisan legislation is pending in the U.S. House of Representatives that addresses Medicare’s “two midnight” policy. Representatives Joe Courtney (D-CT), Glenn Thompson (R-PA), Suzan DelBene (D-WA), and Ron Estes (R-KS) introduced H.R. 5138 which would allow observation stays to be counted toward the three-day mandatory inpatient stay for Medicare coverage of a skilled nursing facility (SNF). NABIP National Federation of Independent Business (NFIB) Gilroy Kernan & Gilroy

Currently, Medicare beneficiaries who are not officially admitted to a hospital may be classified under “Observation Status,” which is treated as an outpatient procedure for billing purposes. Unfortunately, the common practice of placing a beneficiary on “observation status” can have significant financial consequences for Medicare beneficiaries, since Medicare Part A and its related coverage rules only apply to actual inpatient care admissions. This may lead patients, many who are extremely sick and may need skill nursing care (SNF) to spend many days in the hospital and be charged for services that Medicare would have otherwise paid had they been admitted. Furthermore, hospitals have up to one year to retroactively change admission status to observation, leading unsuspecting beneficiaries with thousands of dollars in bills for SNF care they believed would be covered by Medicare. Bipartisan legislation is pending in the U.S. House of Representatives that addresses Medicare’s “two midnight” policy. Representatives Joe Courtney (D-CT), Glenn Thompson (R-PA), Suzan DelBene (D-WA), and Ron Estes (R-KS) introduced H.R. 5138 which would allow observation stays to be counted toward the three-day mandatory inpatient stay for Medicare coverage of a skilled nursing facility (SNF). 1. Contact Your Representative. NABIP is calling on all members to contact their federal legislators and urge them to co-sponsor bipartisan legislation that would address this important issue. 2. Tell your clients to take action. Your clients can also send a direct message about why their Representatives should allow observation stays to be counted toward the three-day mandatory inpatient stay for Medicare coverage of a skilled nursing facility (SNF). Tell them to take action here! https://lnkd.in/eVUhvECM

Listen in on Monday, October 30, 2023, as Owners of Barajas Insurance Group explain what to expect during the 2024 Annual Enrollment period, October 15th - December 7th. How much will the Part B & Part D premiums increase? Can we expect a premium stabilization? Will I be affected by the Income Related Monthly Adjusted Amount (i.e. IRMAA)? What are the Medicare IRMAA brackets for 2024? Caregivers already have SO much to manage with finances, routines, and medications. Check in with your agent to make sure your coverage still fits your budget. #medicare #openenrollment #annualenrollment #insurancecoverage #medicareadvantage #caregivers #helpfulresources #insurance #caregiverlife #caregiverstrong #advocate #lessonslearned #budgeting #shoestringbudget

👨⚕️ The latest market report on the private healthcare sector is now out for Q3 2023 👩⚕️ The data shows that 2023 is on track to be a record year of admissions for the sector driven by admissions paid for by Private Medical Insurance, the majority of which is arranged by employers. Read the thoughts of Broadstone’s Head of Health & Protection Brett Hill on today’s stats in this COVER Magazine article including his views on why employers need to take proactive measures to support the health of their workforce. https://lnkd.in/dRpUsdzs #privatehealthcare #employeehealthcare #stats

When your SSDI application gets approved, you will receive four things from SSA. 1) Lump sum: Benefits accumulated for those months before the application approval date. 2) Monthly income: You will get ongoing monthly payments. 3) Medical insurance: Medicare kicks in two years after your disability begins. 4) Income for dependents: There is an additional amount for your dependents. When your SSI application gets approved, you will receive similar things from SSA. The differences between SSI and SSDI are: 1) SSI gives you Medicaid instead of Medicare. 2) SSI doesn't cover dependents. Instead, they should apply for their own SSI benefits. Visit https://lnkd.in/eatBPCUd to make an appointment or reach us by info@montgomerydisability.com

Fix Medicare's "Two Midnight" Rule! Currently, Medicare beneficiaries who are not officially admitted to a hospital may be classified under “Observation Status,” which is treated as an outpatient procedure for billing purposes. Unfortunately, the common practice of placing a beneficiary on “observation status” can have significant financial consequences for Medicare beneficiaries, since Medicare Part A and its related coverage rules only apply to actual inpatient care admissions. This may lead patients, many who are extremely sick and may need skill nursing care (SNF) to spend many days in the hospital and be charged for services that Medicare would have otherwise paid had they been admitted. Furthermore, hospitals have up to one year to retroactively change admission status to observation, leading unsuspecting beneficiaries with thousands of dollars in bills for SNF care they believed would be covered by Medicare. Bipartisan legislation is pending in the U.S. House of Representatives that addresses Medicare’s “two midnight” policy. Representatives Joe Courtney (D-CT), Glenn Thompson (R-PA), Suzan DelBene (D-WA), and Ron Estes (R-KS) introduced H.R. 5138 which would allow observation stays to be counted toward the three-day mandatory inpatient stay for Medicare coverage of a skilled nursing facility (SNF). Please contact your federal legislators and urge them to co-sponsor bipartisan legislation that would address this important issue!

Yes, you have to pay for a nursing home in Texas. One of the most commonly misunderstood facts is that nursing homes are not covered by Medicare unless the care is temporary or rehabilitative. The same is true for private insurance. Read more about this in our blog: https://buff.ly/477gDQL It’s never too early to get your estate in order. Contact us today at (281) 407-9830 to schedule a consultation. #Medicare #NursingHome #EstatePlanning #Trusts #Beneficiary #LeagueCityEstatePlanning #LeagueCityAssetProtectionAttorney #LeagueCityElderLawAttorney #ElderLaw #LeagueCity #Eldercare

On the fence about which insurance is best for you? Read below. I often try to inform my patients about the cons of Medicare Advantages especially 1 in particular, that will remain unmentioned. Some of our elderly patients are unaware of hidden facts that Advantages have. As a good Patient Navigator and front office person, it is our duty to stay in the " know" about the different insurances. A good Patient Navigator knows which insurance will cover wound care and wound care supplies, and which will not. Let's be a liason for our elderly patients who do not understand how Medicare Advantages work. Many of my patients aren't even aware that they signed up for some Medicare Advantages. I have several patients ask me about different insurances before they sign. I challenge my peers to become knowledgeable of all insurances so that we may offer sound advice to our vulnerable patients who may not know what they have signed up for. #peoplefirst#patientcentered#patientnavigator#brandambassador#processexcellence#patientsatisfaction#healogics#woundcare#onehealogics#findtreatheal#comehealwithus

#MedicareAdvantage may not be as comprehensive as Original #Medicare, according to Steve Przybilla, Principal for Plante Moran Living Forward. "Nursing home administrators may struggle financially to provide the same level of services under MA reimbursement." Przybilla goes on to say "The consumer may begin to see limited availability of places that they can go because of the insurance plan that they have, or they’re getting service limitation." Pryzbilla's comments echo the issues with insurance coverage seen by our #eldercare advocates at #RothkoffLaw. Further, the use of "Medicare Advantage" is misleading and causes consumers to believe they're on Medicare, when in fact they are not. A bill was introduced in Congress which, if passed, would prevent private insurance from using Medicare in their plan names or marketing. Read more about the limitations of MA and the proposed legislation here: https://lnkd.in/eTPNguZW