On May 13, 2009 the trustees of Medicare and Social Security released a report detailing the impending insolvency of our nation’s two biggest entitlement programs: Medicare in 2017 and Social Security in 2037. Projections have pushed these bankruptcy dates up from the previous report’s estimates of 2019 for Medicare and 2041 for Social Security. What can we do about this?
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Although the Advantage ratings purportedly help seniors weed out the best possible plans, the ratings system is flawed and most seniors rely on a combination of plan costs and benefits to determine which plan they want. The impending Medicare reforms will be rewarding top-ranked Advantage plans with bonuses, despite the obvious flaws within the system. The Center for Medicare Services (CMS) plans on using the current system at first, and later evaluating which factors work and which do not. Programs with 4 or 5 star ratings will receive higher bonuses from Medicare.
The doughnut hole coverage gap forces seniors to pay out of pocket once their drug costs hit a certain amount. Recent health care reforms have focused on the doughnut hall as a way to cut costs. Here are the top 6 things to know about the doughnut hole for seniors, their relatives, and their friends.
Medicare fraud is among the most common types of health care fraud. The Obama administration has requested a funding increase in an effort to cut down the Medicare fraud. These efforts have been successful in the Miami area, which has the highest rates of both Medicare fraud and prosecutions.
According to a study done by the University of California, Los Angeles and the University of Plymouth in the U.K., many Medicare beneficiaries find it