Understanding Medicare isn’t as easy as it should be. With so many different types of Medicare coverage, plus Medicare Supplemental Insurance options, it can be hard to understand just what your policy covers and whether or not it works for you. For many people, the new medical equipment competitive bidding program is one more thing that only adds to the confusion.
However, understanding the program is easier to do than you may think. Here are the main things to know.
- The Medical Equipment Competitive Bidding Program modifies the amount that Medicare pays to suppliers for various equipment and prosthetics.
- It also changes who is allowed to supply the items.
- The program is intended to reduce the prices Medicare has traditionally paid for equipment and makes the prices more accurate.
It works simply. Different suppliers of medical equipment actually submit bids to Medicare on the cost of different items. Medicare looks at the bids and then uses the amounts to determine what it will pay for the different items. Only fully accredited, fully qualified suppliers are chosen, and they’re chosen based on the bids that they submit.
There are a few extra points that you’ll want to remember concerning the program, including:
- The program won’t change which doctors you’re allowed to visit
- It only applies to original Medicare. Those enrolled in other specialized types of Medicare won’t be affected.
- The program helps to ensure that you and Medicare save money
- The program isn’t in place throughout the nation. Instead, it is currently in place in certain areas of America. You’ll need to determine if you’re in one of the areas.
- The program includes a wide range of products including diabetic supplies, oxygen equipment, wheelchairs, walkers, and more.
- Since only certain suppliers are allowed to provide supplies, you may need to speak with your doctor or take steps to determine where you can buy your supplies.
While it can be confusing to keep up with all of the changes, the new modifications to the Medicare program are designed to help reduce costs while giving you the right kind of supplies for your health. If you still have questions, talking to your medical professional or learning more through a Medicare provider can help.
Remember that your participation in this program will largely depend up on the area you live in since it hasn’t been implemented nationwide. Take a look at whether or not you’re affected before you take the next steps concerning this program.