Recent legislation signed by President Trump significantly dampened the 2021 Medicare Part B premium increase that would have occurred, given the estimated growth in Medicare spending next year. The standard monthly premium for Medicare Part B enrollees will be $148.50 in 2021, an increase of $3.90 from $144.60 in 2020. CMS also announced that the annual deductible for Medicare Part B beneficiaries is increasing.
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The Centers for Medicare and Medicaid Services (CMS) issued a proposed rule that would make changes for Medicare payments under the Physician Fee Schedule (PFS) for 2021. When making changes, HHS is required to achieve budget neutrality which means for any increase there must be a decrease elsewhere. Therefore, under this rule, some codes received increases and others were significantly reduced.
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In August 2020, Centers for Medicare and Medicaid Services (CMS) issued a proposed rule that announces upcoming changes for Medicare payments under the Physician Fee Schedule (PFS), beginning January 1, 2021. The 2021 proposed rule was intended to improve payments and decrease complexity for evaluation and management services, increase coverage for opioid use disorder treatments, and broaden telehealth service coverage.
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The new Medicare ABN form was released a few weeks ago, and all providers are required to begin using the new form by August 31, 2020. This article covers how to download the new form, the small changes made in the instructions, and what they mean to you and your patients.
Read MoreAre you keeping your patients’ medical records long enough to be compliant with legal requirements? Are you aware of the retention requirements by CMS on records for Medicare Advantage patients? Watch the video to find out!
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