Seniors are the most at-risk group for severe illness from
COVID-19. Here's the role Medicare will play for those impacted.
As the spread of COVID-19 continues to wreak
havoc on all aspects of American life, from work schedules to school closings
to investment portfolio balances, many Medicare enrollees have one primary
focus: protecting their health by avoiding the virus. Those on
Medicare are statistically more likely to suffer severe health consequences if
stricken with COVID-19, as the CDC explicitly states that the risks are highest
for Americans 60 and older. As such, it's imperative that seniors understand
what coverage Medicare offers with regard to this major health crisis.
COVID-19 tests
Medicare will cover the cost of COVID-19 testing
in full. Those enrolled in Medicare will pay nothing out of pocket.
COVID-19 care
Medicare will cover the cost of COVID-19
treatment, including hospitalization under Part A. And while there's currently
no vaccine to prevent COVID-19, if one becomes available, it will be covered
under all Medicare Part D drug plans.
Routine -- and remote
-- medical care
One of the most dangerous aspects of COVID-19 is
its ability to spread even when carriers are without symptoms. As such, seniors
today need to practice social distancing -- staying away from crowds to avoid
exposure to germs. In fact, seniors are advised to postpone all non-essential
medical appointments at this time, since going to a doctor's office not only
increases the risk of interacting with someone who has COVID-19, but picking up
germs in general.
Thankfully, Medicare already has a system in
place that allows seniors to connect with medical providers from the comfort
and safety of home -- its telehealth services. This is not a new thing to
accommodate COVID-19 concerns; it's been around for years. Seniors who want to
keep tabs on their health without actually going into a medical office can do a
virtual check-in by phone or video chat, which Medicare will cover. And those
who are concerned they may be infected with COVID-19 can discuss their symptoms
remotely and receive instant advice on what to do.
Financial relief for
enrollees in need
Seniors who are hospitalized due to COVID-19
could face high deductibles and coinsurance, depending on how long they need
care. That said, there's talk of waiving cost-sharing for COVID-19 treatment to
remove barriers to care among those most vulnerable to severe health impacts.
Medicare is also talking about expanding access
to its telehealth services to make it easier for anxious seniors to review
their health concerns with doctors remotely. And it may also start waiving
limits on prescription refills -- a key step that could allow more seniors to
stock up on the drugs they need to better self-isolate. Meanwhile, seniors are
advised to ask their providers to change 30-day prescriptions to 90-day supplies
when applicable.
It's natural for seniors in particular to be
concerned about COVID-19, but the good news is that Medicare is taking steps to
make an otherwise trying situation easier. At the same time, enrollees should
read up on the benefits they're entitled to so that if frightening
symptoms do emerge, they're already armed with knowledge.
The Motley Fool has a disclosure policy.
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