Medicare Competitive Bidding

If this is your first time learning about Medicare competitive bidding, you are not alone.  Part of the reason why you may have never heard of the term is because it was part of an old piece of legislation called the Medicare Modernization Act, signed into law by President Bush in 2003.  It was finally implemented in 2011, and is aimed at “weeding out multiple companies selling the same products at higher prices, even though such products were not necessarily better.

There is little impact for seniors receiving Medicare.  The bill’s biggest effect has been on ironing out wasteful spending in government, saving more than $400 million in the first two years, across nine regions, alone.  Further savings are expected as the bill is implemented in 90 additional areas this year.

While the aim has been to make companies offering medical equipment to the government for Medicare more competitive, some have worried that the quality of equipment would decline in tandem with the prices.  So far, the opposite has happened, and the quality of medical equipment being provided to the government has actually remained the same.

Keep up-to-date with news on your Medicare and what it means for your individual plan.  SeniorQuote is always available to assist you.

Call us for a quote or for more information at (888) 278-5126

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October 1st ObamaCare Deadline is Improbable

The Wall Street Journal recently published an article that renewed suspicions about the government’s timeline regarding the start of ObamaCare: the prospective launch date of October 1st, 2013 is, perhaps, no longer realistic. Several deadlines have been missed in trying to establish small business and consumer insurance exchanges and, because of this, it is doubtful that October 1st will initiate the full implementation of ObamaCare.

Small businesses are braving the impact of several setbacks. Employers will only be able to offer one plan option to their employees, and several small companies have reported that they are no longer able to fund the full premium for these packages. Only seventeen states have established their small business exchange programs, so the federal Medicare and Medicaid centers have picked up the slack for the thirty-three remaining states. Many states are struggling to find carriers that are willing to provide their services to small businesses state-wide; therefore, options are few, prices are high, and the chance that ObamaCare will be ready October 1st is growing ever-more improbable.

The healthcare industry continues to be in flux with answers to essential questions proving elusive for many individuals. If you have questions about your personal healthcare, insurance coverage, or Medicare, many answers are available on www.medicare.gov., or you can contact the Medicare experts directly at SeniorQuote by calling 888-278-5126.