This part works with private insurance companies. This part covers the prescription – drug plan; Medicare covers up to 75 % of drug cost if they exceed a certain amount. Medicaid is a Federal and State funded program each state may have different qualification standards for who is eligible ; this program covers the poor and penniless , pregnant women on public assistance , low income seniors and young adults that are SSI recipients who are blind and or disabled. This plan also cover beneficiaries who
Employees must be vested to receive requirements and this plan will not integrate with any government benefits. Employees can start contributing to pension immediately upon hire in a permanent full time or part time position. For normal retirement and to receive full pensionable payment employees must be age 65 with a minimum of 15 years of service with the company. For early retirement, employees must have 10 years of service, and may retire at any age but benefits will be lowered by 20%. Maximum pensionable earnings shall be deemed equal to 70% of last full calendar year of service for the company.
Consider this income statement: Open table as spreadsheet Green Valley Nursing Home, Inc. Statement of Income Year Ended December 31, 2007 Revenue: Net patient service revenue $3,163,258 Other revenue 106,146 Total revenues $3,269,404 Expenses: Salaries and benefits $1,515,438 Medical supplies and drugs 966,781 Insurance and other 296,357 Provision for bad debts 110,000 Depreciation 85,000 Interest 206,780 Total expenses $3,180,356 Operating income $ 89,048 Provision for income taxes 31,167 Net income $ 57,881 How does this income statement differ from the ones presented in Table 3.1 and Problem 3.2? Why does Green Valley show a provision for income taxes while the other two income statements did not? What is Green Valley's total profit margin? How does this value compare with the values for Sunnyvale Clinic and BestCare?
The author will discuss the differences in Parts A, B, and D. Medicare Coverage Part A Medicare Part A is often called the hospital insurance because the coverage is primarily directed at hospital services. Part A covers inpatient care in a hospital, skilled nursing facility (SNF) and “Religious Nonmedical Health Care Institutions” ("Medicare Handbook," 2012, p. 27). In addition to this, Part A covers Home Health and Hospice care. This coverage includes all meals, a semi private room, medications administered during the inpatient stay and general nursing. The deductible that must be paid by the patient in 2013 is $1184.00.
Case 2 1. Will the clinic need to request a line of credit for the period and, if so, how big should the line be? CASH SURPLUS OR LOAN REQUIREMENTS | January | February | March | April | May | June | Cash at start if no borrowing is done | | $50,000 | $49,563 | $27,500 | $117,936 | $302,842 | $356,061 | Cumulative cash | | | | $49,563 | $27,500 | $117,936 | $302,842 | $356,061 | $323,998 | Target cash balance | | | | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | Surplus cash or total loans outstanding | | | | | | | | to maintain target cash balance | | ($438) | ($22,500) | $67,936 | $252,842 | $306,061 | $273,998 | Line of credit excess cash interest | | ($2.92) | ($150.08) | $226.23 | $841.96 | $1,019.18 | $912.41 | The clinic will need to request a line of credit for the period, and the line should be at least $1019.18. 2. Daily cash budget | Day 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | Billings | $11,290 | $11,290 | $11,290 | $11,290 | $11,290 | $11,290 | $11,290 | $11,290 | $11,290 | $11,290 | $11,290 | Patient payments | $2,258 | $2,258 | $2,258 | $2,258 | $2,258 | $2,258 | $2,258 | $2,258 | $2,258 | $2,258 | $2,258 | 30-day payors | 1,613 | 1,613 | 1,613 | 1,613 | 1,613 | 1,613 | 1,613 | 1,613 | 1,613 | 1,613 | 1,613 | 60-day payors | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | Total collections | $6,871 | $6,871 | $6,871 | $6,871 | $6,871 | $6,871 | $6,871 | $6,871 | $6,871 | $6,871 | $6,871 | 2 mo prior to use | | | | | 3,375 | | | | | | | 1 mo prior to use | | | | | 5,063 | | | | | | | Total supplies costs | $0 | $0 | $0 | $0 | $8,438 | $0 | $0 | $0 | $0 | $0 | $0 | Collections | $6,871 | $6,871 | $6,871 | $6,871
The quality reporting is done on a voluntary basis offering contributing physicians bonus payments based on Medicare claims for services. The reimbursement program initially ran from July through December, 2007. To further the program, “The Medicare,
You can still buy private insurance through a broker or direct from a provider. OBAMA CARE MEDICARE REFORMS Obama Care cuts $716 billion (gross) in Medicare and Medicare Advantage related spending and reinvests it back into both Medicare and other aspects of the Affordable Care Act. OBAMA CARE MEDICAID
NBER WORKING PAPER SERIES THE IMPACTS OF THE AFFORDABLE CARE ACT: HOW REASONABLE ARE THE PROJECTIONS? Jonathan Gruber Working Paper 17168 http://www.nber.org/papers/w17168 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2011 Forthcoming as part of a Forum on Health Care Reform and the U.S. Budget, National Tax Journal. Jonathan Gruber served as a paid advisor to the Romney Administration and Massachusetts Legislature during the development of health care reform in Massachusetts, and has since been a member of the Commonwealth Health Connector Board that oversees implementation of the law. He was also a paid technical consultant to the Obama Adminstration during the development of the Affordable Care Act. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.
The federal minimum wage provisions are contained by the Fair Labor Standards Act (FLSA). The federal minimum wage of $7.25 per hour was effective July 24, 2009, and to date by January 2015 it will be $10.10 per hour. States also vary by minimum wage laws. Some state laws provide better employee protection; employers must comply with both. The FLSA doesn’t provide (WPCP) wage payment collection procedures for an employee’s usual and/or promised wages, commissions in true excess of those required by the FLSA.
International Journal of Health Services, 35(1), p. 63–90. Retrieved November 10, 2010, from http://pnhp.org/facts/myths_memes.pdf Myers, J. (2005). Health insurance: insured paying extra to cover uninsured. The Earth Times.