Know the Medicare Fee Schedule

The Medicare fee schedule is different, depending on several factors. First the type of coverage changes the fee schedule, as does the service provided. The Medicare fee schedule can include a premium if the beneficiary did not pay into Social Security for at least ten years prior to become eligible.

Part A and Part B of the Medicare program, includes the requirement for the beneficiary to pay for a portion of services provided. There are premiums and deductibles which apply to the Medicare physicians fee schedule and the Medicare program will pay the remaining balance.

The Medicare Physician fee schedule likely includes a lower cost for services than most insurance programs, as the government regulates what amount doctors may charge for services provided, as well as the cost of medical equipment and other applicable fees.

Medicare billing can be rather confusing, especially for new beneficiaries that do not yet understand the required deductibles, premiums and other out of pocket expenses. Medicare billing does however contain detailed descriptions of payments required by the beneficiary, as well as what each service actually cost.

For example, there may be a description of services provided by a health care professional and that description will include the amount the health care professional is allowed to charge Medicare. That amount will then be broken down according to responsibility, between Medicare and the Medicare beneficiary.

NEXT: Medicare Part A