What Does “Medicare Assignment” Mean?

Medicare helps make healthcare more affordable for millions of Americans nationwide. Without the proper coverage, medical care can cost you thousands of dollars each month. It’s important to have the right health insurance plan for your needs — not only for your wallet but also for peace of mind!

The best way to save money with Medicare is to make sure that you go to providers that accept your insurance. If you go to a provider that doesn’t accept Medicare or use a service that’s not included within your coverage, then you could have to pay the entire amount out-of-pocket. This could be financially draining, so it’s crucial to know what your policy includes.

What Is Medicare Assignment?

Medicare assignment is an important term for beneficiaries to know. It has to do with whether or not a provider accepts Medicare and how much you’ll need to pay as a result of that. 

Doctors that don’t accept assignment are not typically recommended, as it can be difficult and confusing for beneficiaries to understand how much they’ll need to pay. If a doctor doesn’t accept assignment, then they aren’t within the list of providers that Medicare has agreed to pay fully.

Medicare has a certain amount that it will pay when beneficiaries go to providers that accept their policy. This agreed-upon amount is the reason why it’s so important for beneficiaries to go to certain providers. Without this amount, it’s not possible for Medicare to know how much the service will cost, so they’re not able to extend their full coverage.

What If the Provider Doesn’t Accept Assignment?

In the event that a beneficiary goes to someone that doesn’t accept assignment, there’s a policy in place to dictate how payment should be made. First, the beneficiary will need to pay for the full amount of the service. Then, you can go to Medicare and ask for the amount that they’re able to pay you back. Since this most likely won’t be the amount that you paid, we don’t recommend taking this approach.

It’s possible for a provider to not at all be affiliated with Medicare. This means that Medicare will not pay any portion of their bill and beneficiaries will be entirely responsible to pay the full amount out-of-pocket. This is an extremely expensive option in many cases, which is why it’s typically best to go to a provider that you know accepts your insurance.

Medicare Sharks Can Help!

If you’re not sure how you’re going to pay for medical care, then Medicare may be the answer. While Original Medicare only covers 80% of the cost of approved services, supplemental coverage is available to pay for the other 20%. A Medigap plan can lower your out-of-pocket costs and is accepted at any doctor or provider that accepts Medicare. 

If the thought of paying for healthcare overwhelms you, we’re here to help. We believe that everyone should have access to all the benefits they deserve, so contact Mangini Family Insurance for an appointment. We can discuss ways to save money and help you pick the right plan for your health and financial situation.