Loopholes in the Affordable Care Act (ACA), also known as Obamacare. allow insurers to potentially hold & retroactively deny your claims affecting your medical practice’s revenue. Your medical billing staff will have to be on their A-game. If they aren’t, your practice’s revenues and financial stability will likely take a huge hit.
Penalty for No Health Insurance A lot of the medical practices we service are asking us questions about the Affordable Care Act (Obamacare) and how it may affect their patients. One of the questions we hear asked is if there is a fee, penalty, or tax for not having health insurance, as some of the young adults don’t want health insurance and just pay cash if they do need to see a doctor. According to the government: Starting January 1, Continue Reading
Health Insurance Exchanges are Here! What is the definition of a Health Insurance Exchange? A Health Insurance Exchange is a set of government-regulated and standardized health care plans from which individuals may purchase health insurance. The Affordable Care Act (ACA also known as Obamacare) is demanding that everyone have health insurance by January 1, 2014. People can start signing up for the Health Insurance Exchanges to get health insurance as of October 1, 2013. Here is the link to the Continue Reading
What You Need to Know About Obamacare Almost 60% of Americans do not know enough about Obamacare, and being out of the loop causes people to question if they support it or not. Who does it affect? Who is involved? What new taxes are included in the Affordable Care Act? These questions and many are answered in our latest infographic from our friends at TopRNtoBSN.com.
How Does the ACA Affect You? The Affordable Care Act (ACA) can be a difficult one to understand. How does it affect you? How will it affect you in the future? Will it be a benefit for you? This infographic provided by our friends at H&R Block, gives the break down of how these laws could affect you for the next two years.
Affordable Care Act Benefits One of the biggest changes in the ACA is what benefits are required to be covered under all qualified health insurance plans. The list is referred to as the Essential Health Benefits Package, and it can be found in Section 1302 of the ACA. Every qualified health insurance plan has to cover the following 10 items, and can’t deny them to a member based on age, expected lifespan, disability, quality of life, gender, or race. 1. Continue Reading
Affordable Care Act Updates ACA Reporting Standards One of the major provisions in the Affordable Care Act (ACA) isthe new set of quality ACA reporting standards for all medical facilities. Hospitals, medical centers, outpatient centers, nursing homes, home health agencies, etc. now have to provide yearly reports on their patient outcomes across 44 quality-of-care measurements. These reports used to be voluntary, and technically still are, but refusal to participate in this program could cost a facility their Medicare/Medicaid reimbursements. For Continue Reading
Is Your Medical Practice Ready for the Affordable Care Act? With election season in full swing, there’s been a lot of speculation about what will happen to the Affordable Care Act (ACA)–commonly referred to as Obamacare–if Mitt Romney is elected President. In truth, because the ACA is an Act of Congress, there islittle that any President can do to overturn the law. Since it’s likely here to stay, physicians should plan ahead to adapt their practices. Here are five things Continue Reading
What is HIPAA 5010 and Does it Effect My Medical Practice? Effective January 1, 2012 HIPAA version 5010 becomes mandatory. All of us in the healthcare industry will need to understand, implement and transition to the new Health Insurance Portability and Accountability Act (HIPAA) version 5010 well before the mandated compliance date. Testing should begin as soon as possible to avoid any ays in claims payments and rejections. What is 5010 and how does it affect the Healthcare Industry? 5010 Continue Reading
Medicare provides coverage for Annual Wellness Visits. This benefit was included in the Affordable Care Act of 2010. Medicare has come up with two HCPCS codes for these well visits for medical billing purposes. The codes are G0438 and G0439.