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....
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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.
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Effective February 1, 2010, Cigna is closing their CIGNA Medicare Access PFFS plans to OEP enrollments.
CIGNA will still accept clients enrolling during their individual election period (those aging in to Medicare or newly eligible to Medicare) and those with a Special Enrollment Period. Current clients who have CIGNA Medicare Access PFFS will not see...
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After going through another Medicare Annual Enrollment season, it is hard to believe just how many rules are listed and enforced by CMS.
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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.
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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...
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Many workers aged 65 and older are delaying retirement due to the economic state of our country, approximately 430,000 to be exact. This is a 45% increase from last year according to the Bureau of Labor statistics. Severe market losses are among one of the main reasons why seniors are continuing to work well...
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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...
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President Barack Obama announced on Monday that he plans on closing the gap in prescription drug coverage for senior citizens.
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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 hard to choose the most cost-effective Medicare Part D plan when there are so many plans to choose from. Beneficiaries often choose unnecessarily expensive plans and don’t realize that...
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