BY ANNA WILLIAMS: The rising cost of targeted oral anticancer medications may put a substantial financial burden on individual patients enrolled in Medicare‘s prescription drug benefit program, Medicare Part D, according to a study published in the Journal of Clinical Oncology.
BY BRUCE JASPEN: Medicare Advantage plans could quickly become the choice of one in two seniors as millions flock to privately administered health benefits for the government’s health insurance for elderly Americans, the nation’s largest health insurer is predicting.
UnitedHealth Group executives are confident it’s only a matter of time before more than half of the nation’s seniors are enrolled in a Medicare Advantage plan over traditional fee-for service Medicare. The insurer’s executives wouldn’t say when such growth would take place but health plans reporting earnings in the next two weeks are expected to report solid growth. (read more)
BY THOMAS BEATON: The Centers for Medicare and Medicaid Services (CMS) incorrectly paid $16 billion to Medicare Advantage organizations as a result of insufficient oversight and mismanagement of data, says the Government Accountability Office (GAO) in a new report.
Almost 10 percent of all Medicare Advantage payments were paid incorrectly even though CMS relies on risk adjustment data validation (RADV) audits to ensure correct payments to Medicare Advantage organizations. GAO examined the CMS estimates and found various shortcomings when it came to analysis, management, and necessary expansion for these audits.
RADV audits are crucial for ensuring payment compliance because they determine whether or not diagnosis data submitted by an Medicare Advantage organization matches a beneficiary’s medical records. (read more)
The new Medicare Plus Card saves you up to 75% on things not covered by Medicare
Medicare doesn’t cover everything. Luckily, those on Medicare can now start saving on out of pocket expenses like prescription drugs, dental, vision, hearing, and more. Over 1 million people have already received their free Medicare Plus Card.