Tips for Medicare coinsurance
Tips for Medicare coinsurance
The Health Insurance Portability and Accountability Act of 1996 is now law. To ensure compliance and avoid fines, here are six suggestions for financial managers:
• Require coinsurance payments from patients every time, unless waiving them clearly conforms with federal law.
• Establish a formal, written policy regarding coinsurance fees and conditions for their waiver.
• Ensure that registration staff and all department heads are acquainted with Medicare "safe harbors" and The Health Insurance Portability and Accountability Act of 1996 exceptions through training and work-site policy manuals.
• Document all cases involving patient waivers and ensure that compliance is clearly noted and explained in the billing record.
• Simplify the coinsurance payment process by making available credit-card or installment-payment options.
• Assign an individual to coordinate Medicare coinsurance payments and be accountable for overall compliance.
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