The Centers for Medicare & Medicaid Services (CMS) issued a new rule on hospital price transparency that went into effect January 1, 2021. Under a section of the Public Health Service Act (PHSA), hospitals are required to publish a list of standard charges each year. Originally, hospitals could fill this requirement just by publishing their chargemaster list (a comprehensive list of all products, procedures, and services provided by a hospital) online; now, however, hospitals are told exactly what they are required to publish, and how to publish it, in order to comply with the PHSA. Hospitals must publish the following five [...]

The Centers for Medicare & Medicaid Services (CMS) released the 2020 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs. Medicare Part B Premiums/Deductibles Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. Each year the Medicare premiums, deductibles, and copayment rates are adjusted according to the Social Security Act. For 2020, the Medicare Part B monthly premiums and the annual deductible are higher than the 2019 amounts. The standard monthly premium for Medicare Part B [...]

It’s Now Easier to Compare Coverage Options and Shop for Medicare Health and Drug Plans For the first time in a decade, the Centers for Medicare & Medicaid Services (CMS) launched a modernized and redesigned Medicare Plan Finder. The Medicare Plan Finder, the most used tool on Medicare.gov, allows users to shop and compare Medicare Advantage and Part D plans. There are more than 60 million people with Medicare coverage. The updated Medicare Plan Finder also provides them and their caregivers with a personalized experience through a mobile friendly and easy-to-read design that will help them learn about different options and [...]