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The recent Senate bill entitled “The Patient Protection and Affordable Care Act” is intended to bring insurance to many uninsured Americans and to help the Medicare program avoid insolvency, which is projected to happen in 6 years. Unfortunately, the bill will probably have just the opposite effect.
In light of the recent letters sent out to their Medicare Advantage beneficiaries, insurance company Humana now faces the possibility of heavy fines and may even be kicked out of the Medicare Advantage market by federal healthcare agency, CMS. This seems like a pretty harsh penalty for a one page letter informing seniors that “health reform proposals being considered in Washington, D.C., this summer include billions in Medicare Advantage funding cuts” and that “millions of seniors and disabled individuals could lose many of the important benefits and services that make Medicare Advantage health plans so valuable.” So why is CMS so up in arms?
The White House has recently been circulating draft legislation that would create an executive agency for the purpose of overseeing Medicare reimbursement rates and policy changes. Under the proposal, there
Many people were victims of Bernard Madoff’s fraud and have lost a considerable amount of income due to this scheme. Originally, Madoff victims were not included in the above categories of life changing events. As of June 9, Social Security determined that “if someone had a reduction of income as the result of criminal theft or an investment scam, they can qualify as having a life-changing event.” Just like the above instances, you need to provide documentation to Social Security. Documentation would include an account statement from Madoff’s firm or a court document stating you as an alleged victim.