Retired Teachers Chapter News
The Centers for Medicare & Medicaid Services (CMS) has announced upcoming revenue reductions to health plans in 2017. As a result, Medicare will be reducing the amount of money Medicare Advantage Plans — such as HIP VIP — receive. In New York City, the cuts will amount to 7.9 percent. As a result, the following changes become effective Jan. 1, 2017:
- Specialist office visit co-payment increases to $25 from $15
- Emergency room co-payments increases to $75 from $50
- Inpatient facility admission co-payments increases to $100 from $0
- Durable medical equipment coverage at 20 percent co-insurance