Protecting and Improving Medicare: Trump Executive Order
October 3rd, President Donald J. Trump made a new Medicare Executive Order, which would increase the private sector. Also, this increase could be more affordable plans for seniors in the U.S.
The new order is “Protecting and Improving Medicare for Our Nation’s Seniors” and strengthening Medicare Advantage plans, which are a popular option. The advantage plans will cover about 22 million Americans.
Trump Executive Order to Protect and Improve Medicare
An Executive Order is put into place by the President of the United States. Also, this order directs the workings from within the federal government.
The hopes behind the Executive Order are to see growth and help protect the program.
- Increasing the quality of financial sustainability via different payment plans
- Increase in plan options
- Helping reduce regulations on doctors
Medicare Beneficiaries and Trump’s Executive Order
Many people buy Medigap plans to cover gaps in health coverage since Medicare only covers 80%. However, the Executive Order modifies MA benefits to permit a share in cost savings.
This new change allows federal laws to push Medicare Advantage plans that can offer more favorable coverage. Also, boost the use of telehealth services like virtual doctors’ visits, and help support wellness plans.
The goal of the Executive Order is to end the constant fight against fraud, abuse, and waste within the system. Also, doing this results in cutting timeframes of treatments.
Benefits for Beneficiaries
By providing telehealth services, patients that have problems getting a ride to the doctors’ can get care from home.
Also, by getting access to adequate care plans, people can better treat specific health issues that they may be facing. Another likely perk is greater access to wellness plans.
Wellness plans can lower stress, improve health, and so much more.
In the past, doctors had piles of paperwork because of federal laws. By starting the new Executive Order, doctors can focus more time on patients rather than paperwork.
Once in motion, the new order will streamline the approval process for patients to receive proper health coverages.
Thoughts from the White House
Below are some critical comments directly from The White House release on Thursday regarding the Trump Medicare Executive Order, Protecting and Improving Medicare for our nation’s seniors.
“Instead of ending the current program and eliminating health choices for all Americans, my Administration will continue protecting and improving Medicare by building on those aspects of the program that work. Including the market-based approaches in the current system. The Medicare Advantage component, for example, delivers efficient and value-based care through choice and private competition and has improved aspects of the program that previously failed seniors. ”
“Providing More Plan Choices to Seniors. (a) Within one year of the date of this order, the Secretary shall propose regulation and implement other administrative actions to enable the program to provide beneficiaries with more diverse and affordable plan choices.”
“Empowering Patients, Caregivers, and Health Providers. (a) Within 1 year of the date of this order, the Secretary shall propose a regulation that would provide seniors with better quality care and cost data, improving their ability to make decisions about their healthcare that work best for them and to hold providers and plans accountable.”
“Within one year of the date of this order, the Secretary shall identify and remove unnecessary barriers to private contracts that allow beneficiaries to obtain the care of their choice and facilitate the development of market-driven prices.”
Protecting and Improving Medicare with the Coverage Transparency Rule
Another groundbreaking push forward in the United States health care world comes from President Trump’s Executive Order on Improving Price and Quality Transparency, announced November 15th.
The goal behind the transparency rule is to provide transparency of pricing to patients. This rule also allows for greater competition between hospital facilities, groups, individual marketplaces, and insurance plans.
CMS Administrator Seema Verna recent statement regarding the new order:
“Under the status quo, healthcare prices are about as clear as mud to patients. Thanks to President Trump’s vision and leadership, we are throwing open the shutters and bringing to light the price of care for American consumers. Kept secret, these prices are simply dollar amounts on a ledger; disclosed, they deliver fuel to the engines of competition among hospitals and insurers. This final rule and the proposed rule will bring forward the transparency we need to begin reducing the overall healthcare costs finally. Today’s rules usher in a new era that upends the status quo to empower patients and put them first.”
Patients will be in much better positions with the knowledge of any out of pocket costs they may face before receiving care. By allowing access to accurate prices, Americans can easily compare facilities for much-needed health treatments. Citizens may finally feel more “in control” of their health care.
Compliance is of utmost importance amongst hospitals and care facilities. CMS will continually monitor facilities’ participation in the new transparency rule.
If a hospital is not compliant, they face the following:
- a penalty of $300 per day
- they may have to undergo auditing
- They could face corrective action plans
Save Money with a Medigap Policy
Sure, the Protecting and Improving Medicare executive order is pushing for MA plans to be accommodating. But, when it comes to coverage, if you don’t want high out of pocket costs, you don’t wish to an MA plan.
There are many differences between Medigap and Medicare Advantage coverage; most notably, Medigap lets you see any Medicare doctors, and MA plans have a list of doctors you must follow.
Let our team of agents help you with all your needs. Whether it be shopping around for rates, questions about benefits, or how to tailor a plan.
Feel free to call our team today at the number above or fill out an online rate form.