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Approximately three weeks ago, my dad received a stenting procedure from a local hospital. Dad is a fairly healthy senior citizen in his early 70s.
I have to admit that I've never really paid any attention to senior medicare benefit. My dad has the pretty standard senior medicare insurance, and he also pays approximately $300/month for a senior Supplement Plan. Dad is pretty much covered.
The following is one of the prescription drug my dad has to take religiously,
I just found out that this particular drug cost approximately $300/ per bottle. If my dad does not have the supplement insurance, the doctor would have to switch this drug to something cheaper, with potential side effect including internal bleeding. Lucky for us, dad's prescription drugs and stent procedure are all covered by the medicare and supplement insurance. so no worries here.
What do you think? I am not here to criticize president Obama's obamacare, I am wondering if obamacare and medicare reform will eventually hurt senior citizens?
What do you think? I am not here to criticize president Obama's obamacare, I am wondering if obamacare and medicare reform will eventually hurt senior citizens?
Any thoughts? Thanks
To answer your question, of course. There are enough taxes in ACA that everyone will be hurt.
The only savings grace is, and I dont know the answer to this, does ACA allow subisides for the medicare supplimental plan?
It might actually be beneficial for a lot of seniors to refuse medicare if possible, and go on the exchange alone so they can get onto the medicaid plans.
What do you think? I am not here to criticize president Obama's obamacare, I am wondering if obamacare and medicare reform will eventually hurt senior citizens?
Any thoughts? Thanks
Obamacare just codified medicare cuts that were supposed to take place a decade ago. So the short answer is yes, but medicare has been relying upon yearly Congressional waivers since 2000/03.
To answer your question, of course. There are enough taxes in ACA that everyone will be hurt.
The only savings grace is, and I dont know the answer to this, does ACA allow subisides for the medicare supplimental plan?
It might actually be beneficial for a lot of seniors to refuse medicare if possible, and go on the exchange alone so they can get onto the medicaid plans.
Is medicaid plan designed for low income seniors? Some senior citizens like my mom and dad will never be qualified for that.
I guess my question is that for those senior citizens who cannot afford Medicare Supplement Plan, they probably cannot even afford a simple stent procedure which is pretty common among seniors.
I do wonder, however, for those senior citizens who only rely on senior medicare, how can they possibly afford stent procedure (thought medicare only covers 80%) and good after care prescription drugs?
When you really think about it, stent procedure is really a very common procedure for seniors.
Seniors with low income, and few assets, qualify for Medicaid in addition to Medicare. This population is referred to as 'dual eligibles', and make up approximately 20% of Medicare beneficiaries. The Medicaid coverage picks up some of the Medicare cost-sharing burden.
Sometimes, the cost sharing requirements of Medicare can be too much even for a beneficiary of modest means that is not eligible for Medicaid. In these cases, the hospital often provides the care regardless of the Medicare beneficiaries ability to pay their share.
In the case of the Medicare program, the federal government reimburses the hospital for 70% of their bad debt. So, the hospital is ultimately only taking a hit for 30 cents on the dollar. Additionally, in the case of non profit hospitals, that unreimbursed counts as part of the 'community benefit' that they are required to provide in order to remain a tax exempt entity.
Yeah, even with medicare, my dad is still paying approximately $300/month for a supplement health care plan. That is why his stent procedure, prescription drugs are all covered (we haven't received any bills yet.)
I just found out that medicare only covers about 80% of the cost (hospital stay, stent procedure, etc, etc) He got it done in a very good hospital in Irvine. The first thing hospital staffs checked is my dad's insurance card. They want to get paid obviously.
Medicare is insurance. It requires co-pays, coinsurance and has a cap on annual out of pocket expenses.
Medigap and Medicare Advantage Plans are issued by private insurers to help cover what Medicare does not.
Seniors in need of serious healthcare, who cannot afford Medigap or supplemental insurance for hospitalization and prescription medications pay out of pocket, attempt to get enrolled in their state's Medicaid or reduce/ do without medications.
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