CMS issues 2014 Medicare payment rate updates

The premiums for most Medicare Part B recipients will remain the same in 2014, as will the deductibles, according to a release from the Centers for Medicare & Medicaid Services (CMS).

The AARP has reported some confusion about the 2014 Medicare rates in general among their senior members and has suggested that while national politics remain at large, seniors should avoid becoming targets of political slants on the issue.

For senior care professionals who work with dual-eligible or low-income Medicare beneficiaries, CMS also offers a chart resource for Part D Low-Income Subsidy (LIS) eligibility and benefits among most states (including breakdowns for full or partial benefits), with a new federal update expected in January, according to CMS.

The 2014 Part D coverage costs for 2014, originally released in April, are expected to decrease slightly in both out-of-pocket costs and standard deductible costs, according to Q1Group, LLC. Meanwhile, CMS still estimates that the proverbial “donut hole” for Medicare Part D beneficiaries will be completely closed by 2020.  

The website offers a full booklet detailing the Medicare benefits for Part A and B, and for drug coverage under Part D.

Topics: Accountable Care Organizations (ACOs) , Executive Leadership , Medicare/Medicaid , Regulatory Compliance