Medicare Advantage Premiums to Decrease, Benefits to Increase
On September 24, 2020, the Centers for Medicare & Medicaid Services (CMS) announced that the average premium for a Medicare Advantage (MA) plan in 2021 would drop by an average of 34% compared to the 2017 premium. CMS also revealed that record number of MA plans would be offering in-home benefits.
Medicaid Long-Term Services and Supports (LTSS): Proposal to Increase Support for Caregivers
Last month, in the run-up to the Democratic National Convention, Vice President Joe Biden announced the 21st Century Caregiving and Education Workforce plan. The plan would eliminate waiting periods for Medicaid recipients to receive home-based services and increase support for individuals who care for the elderly and disabled. The campaign predicted the plan would cost $775 billion over 10 years.
Medicare Advantage Supplemental Benefits in the COVID-19 Era
Medicare enrollment is growing quickly. By 2030, one in five US citizens will be 65 years old or older. Seniors currently receive benefits through Medicare in two ways. One referred to as “traditional Medicare”, the other, Medicare Advantage (MA), also known as “Medicare Part C.” Parts A and B cover hospitalizations and outpatient care and doctor visits, respectively; Part D covers prescription drugs.
Medicaid Block Grants
In November 2019, the Centers for Medicaid and Medicare Services (CMS) withdrew guidelines directing states regarding how to implement Medicaid block grants and per capita cap programs. The political wrangling over the plan has obscured the details of the current administration’s Medicaid block grant proposal in general, and Tennessee’s plans in particular. To understand block grants, one needs to understand Medicaid’s current funding structure.