MEDICARE ASSIGNMENT Meaning and
Definition
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Medicare Assignment is a term used in the field of healthcare and insurance to refer to an agreement between Medicare and a healthcare provider or supplier. It is a contract that specifies the terms and conditions under which the provider will accept the Medicare-approved amount as full payment for the services rendered to the Medicare beneficiary.
In the United States, Medicare is a federal health insurance program primarily designed for individuals aged 65 and older, as well as certain younger individuals with disabilities. When a Medicare beneficiary seeks medical services from a healthcare provider, the provider can choose to participate in the Medicare program and accept Medicare assignment, or they have the option to opt-out or be a non-participating supplier.
By accepting Medicare assignment, the healthcare provider agrees to accept the Medicare-approved amount as the full payment for the covered services. This means that the provider cannot charge the beneficiary for any additional amount above the approved charge, except for the Medicare Part B deductible and coinsurance, which may apply depending on the specific circumstances.
Medicare assignment offers several benefits to both the provider and the Medicare beneficiary. It ensures that the beneficiary is protected from excessive charges, as they will only be responsible for their Medicare deductible and coinsurance. It also simplifies the billing and reimbursement process for both parties, as the provider will directly bill Medicare for the services rendered, and Medicare will reimburse the provider directly.
Common Misspellings for MEDICARE ASSIGNMENT
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Etymology of MEDICARE ASSIGNMENT
The word "Medicare" is derived from the combination of words "medical" and "care". "Medical" comes from the Latin word "medicus", which means "physician" or "healing", while "care" is derived from the Old English word "carru" meaning "anxiety" or "sorrow".
The term "assignment" has its roots in the Middle English word "assignen" which means "to appoint or assign, set aside or allot". It later evolved from the Old French word "assigner", meaning "to affix, attach, or designate".
Therefore, "Medicare assignment" combines "Medicare", which represents the healthcare program for people aged 65 and older in the United States, with "assignment", which refers to the process of designating specific healthcare services to healthcare providers who accept the payment rates set by Medicare.
