Podcast
Questions and Answers
What act was Medicare created under?
What act was Medicare created under?
Social Security Act
What year was Medicare created?
What year was Medicare created?
1965
What title number created Medicare?
What title number created Medicare?
18
What does Part A of Medicare cover?
What does Part A of Medicare cover?
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What does Part B of Medicare cover?
What does Part B of Medicare cover?
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What does Part D of Medicare cover?
What does Part D of Medicare cover?
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What is Part C of Medicare?
What is Part C of Medicare?
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What is the largest single payer of health care services?
What is the largest single payer of health care services?
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Who administers Medicare?
Who administers Medicare?
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What are the eligibility requirements for Part A?
What are the eligibility requirements for Part A?
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What is the eligibility requirement for Part B?
What is the eligibility requirement for Part B?
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What are 3 benefits for Part A?
What are 3 benefits for Part A?
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What are the out-of-pocket costs for Part A?
What are the out-of-pocket costs for Part A?
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What is the benefit period for Part A?
What is the benefit period for Part A?
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What is cost-based reimbursement?
What is cost-based reimbursement?
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What are prospective payment systems?
What are prospective payment systems?
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How are diagnosis related groups payments done?
How are diagnosis related groups payments done?
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How are resource utilization group payments done?
How are resource utilization group payments done?
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What does Part B cover?
What does Part B cover?
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What must be paid for Part B?
What must be paid for Part B?
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How is Part B paid through?
How is Part B paid through?
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What is Medicare Advantage also known as?
What is Medicare Advantage also known as?
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What is medigap?
What is medigap?
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What are examples of possible reform for Medicare?
What are examples of possible reform for Medicare?
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What is a benefit period?
What is a benefit period?
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What is case mix adjustment?
What is case mix adjustment?
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What is certification in regard to Medicare?
What is certification in regard to Medicare?
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What is cost-based reimbursement definition?
What is cost-based reimbursement definition?
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What are coverage determinations?
What are coverage determinations?
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What is entitlement in Medicare?
What is entitlement in Medicare?
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What is a fee schedule?
What is a fee schedule?
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What does medically necessary mean?
What does medically necessary mean?
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What is a Medicare administrative contractor?
What is a Medicare administrative contractor?
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What is Medicare Advantage?
What is Medicare Advantage?
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What is Medicare assignment?
What is Medicare assignment?
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What is the Medicare physician fee schedule?
What is the Medicare physician fee schedule?
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What is Medigap?
What is Medigap?
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What is multiple procedure payment reduction?
What is multiple procedure payment reduction?
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What is the physician quality reporting system?
What is the physician quality reporting system?
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What is the prospective payment definition book?
What is the prospective payment definition book?
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What is social insurance?
What is social insurance?
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What is sustainable growth rate?
What is sustainable growth rate?
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What is the therapy cap?
What is the therapy cap?
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What does vested mean in the context of Medicare?
What does vested mean in the context of Medicare?
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Study Notes
Medicare Overview
- Created under the Social Security Act.
- Established in 1965.
- Part 18 of the Act specifically created Medicare.
- Largest single payer for health care services in the U.S.
Medicare Parts
- Part A: Covers hospital insurance.
- Part B: Provides supplementary outpatient insurance.
- Part C: Known as Medicare Advantage, integrates Parts A and B managed care.
- Part D: Offers outpatient prescription drug insurance.
Administration and Eligibility
- Managed by the Centers for Medicare and Medicaid Services (CMS).
- Eligibility for Part A: Age 65, 10 years of payroll contributions, End-stage renal disease, ALS (Amyotrophic lateral sclerosis).
- If eligible for Part A, automatically eligible for Part B but must pay a monthly premium.
Benefits and Coverage
- Part A Benefits: Inpatient hospital care, skilled nursing facility (SNF) care, hospice, and home health care.
- Part B Coverage: Outpatient care, home health care, durable medical equipment (DME), prosthetics, and orthotics.
Costs and Reimbursement Methods
- Out-of-pocket costs for Part A include deductibles and co-insurance fees.
- Benefit period defined as the time from hospital admission to discharge plus 60 days.
- Cost-based reimbursement: Payment after services rendered; considered the older method.
- Prospective payment systems: Payment issued beforehand based on estimated needs; viewed as the newer method.
- Diagnosis-related group (DRG) payments are made per episode of care; resource utilization group (RUG) payments are made per day.
Financing and Payment Models
- Part B requires an annual deductible, co-insurance, and monthly premium.
- Governed by the Medicare Physician Fee Schedule, which operates on a fee-for-service model.
- Medigap: Private insurance supplement that covers costs not included in traditional Medicare plans.
Policy and Reform Considerations
- Potential reforms include raising the eligibility age and means-testing for benefits.
- The sustainable growth rate aims to contain Medicare Part B costs by adjusting a standardized conversion factor.
- Case mix adjustments classify patients for payment based on clinical characteristics and expected resource use.
Miscellaneous Concepts
- Certification: Physician approval of therapy plans for Medicare beneficiaries.
- Coverage determinations: Process by insurance companies to decide on claims payments.
- Entitlement: Guarantee of benefits to eligible individuals.
- Medically necessary: Determination required for reimbursement by a provider.
- Physician Quality Reporting System: Mechanism for quality reporting in Medicare services.
Financial Limitations
- Therapy cap: Annual limit on outpatient occupational therapy and physical therapy, combined with speech therapy (ST).
- Multiple procedure payment reduction: Cost containment strategy reducing payment for multiple procedure codes during a single visit.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge on Medicare with these flashcards from Chapter 8. The quiz covers essential facts including its creation, parts A and B, and historical data. Perfect for anyone studying healthcare policies and programs.