Understanding Medicare

[imoldernu]

Do you understand Medicare?

Better... Do I understand Medicare.?

Despite being on medicare for more than 15 years, No!.

Truth be told, DW and I are very happy with Medicare. It pays for what we could never afford. We have had almost no problems with the system during that time. We rely on it to keep us healthy.

Do we understand it?... No! ... and that lack of knowledge was brought home by this article.

https://www.nytimes.com/2017/05/19/business/dealbook/unitedhealth-sued-medicare-overbilling.html

Once you get past the headlines, the explanation of how Medicare works is quite revealing. Because we are sheltered from the way prices are established and how providers are paid, we tend to accept the bills, particularly when we don't have to pay them. From my own standpoint, I spend more time checking for the lowest per gallon price of gasoline, than questioning the $3500/day cost of the ICU.

The article is not posted as any kind of political statement, as I accept things the way they are. It's just that I feel a few minutes spent in learning how things work, the better off we'll be as concerned citizens.

 

[Free To Canoe]

I was just looking for this explanation on the web and gave up. Now here it is (with pictures) on ER.org.

Thanks!

 

[imoldernu]

Though this has nothing to do with the OP, a point that might interest you.
Didn't want to start another thread, but....

Didja know? that if you have a medicare supplement policy in one state, you don't have to give it up if you move to another state.

 

[donheff]

IIRC whistle blowers like the UHC Finance Director get 10% of what the government recovers. Could be a nice payday. On the article about how Medicare Advantage works, I didn't see any mention of the bonus of 14% (or something like that) over the cost of regular Medicare that Advantage insurers got to incentivize the initial program. That was supposed to be temporary. Does anyone know if that subsidy is still in effect?