Recently a congressional agency on Friday suggested that Medicare beneficiaries pay more money for medical services as a way to shield the popular government program from rising healthcare costs. A report by the nonpartisan Medicare Payment Advisory Commission, also called Medpac, proposed a 20 percent fees for the 90 percent of Medicare beneficiaries who purchase supplemental insurance to cover medical costs that Medicare Plan Part A and Part B do not cover.
Medpac, which counsels the Congress about Medicare Plans, also suggested several other improvements including a new $5,000 upper limit for annual out-of-pocket costs to defend senior citizens from the high cost of calamitous illnesses.
Medicare Plan part B initiated in 1965, is the U.S. government’s health insurance program for the elderly and disabled. Medicare’s sister program for the poor, Medicaid, are broadly seen as chief driving force of the U.S. debt and deficit because of a constant rise in healthcare costs that has been causing program expenses higher for decades.
The main focus of Friday’s proposals is to make beneficiaries share more costs to manage Medicare Supplement Plan’s growth. This task has mainly had an impact on physicians and other healthcare providers till now by way of payment cuts.
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