2021 could be the pivotal year for how businesses operate moving forward. Will they offer employees a work from home option, will Zoom meetings be standard procedure, will telehealth replace typical doctor visits? The answers are still being worked out, but it’s worth exploring now so you’re prepared for what lies ahead.
Telemedicine and mobile health open up opportunities making health care more manageable and accessible for both the doctor and the patient. Health services are already tracking vital signs with remote monitoring devices, communicating through web portals, and even receiving on-the-spot care from doctors via video chat. If you feel comfortable self-monitoring your data and submitting it using a mobile device, and reviewing lab results via a patient portal, then you might find the new face of health care a welcome change. Add to these benefits the ability to get the care you need 1) from the comfort of your home, 2) without missing work, and 3) without sitting for extended periods in a waiting room.
So what’s the cost of all this convenience?
Medicare Part B covers certain telehealth services. You pay 20% of the Medicare-approved amount for your doctor or other health care provider’s services, and the Part B deductible applies. For most telehealth services, you’ll likely pay the same amount as in-person services. To find out how much your test or service will cost, talk to your doctor or health care provider.
Starting in 2020, Medicare Advantage Plans offered more telehealth benefits—check with your plan to see what additional benefits it now offers.
If your coverage is through Original Medicare or a Medicare Advantage Plan, you won’t have to pay out-of-pocket costs (called cost-sharing) for COVID-19 tests.
Medicare made these changes to telehealth in 2020:
- You can get telehealth services at either renal dialysis facilities or at home
- You can get telehealth services for certain emergency department visits at home
- You can get certain physical and occupational therapy services at home
- Medicare covers some services delivered via audio-only devices
- Medicare also covers virtual check-ins and E-visits
As the face of health care changes, we’re your trusted partners. We’re here to help answer questions, ensure you’re aware of any policy changes and help guide you through any resulting financial implications. Call us today at (540) 720-5656, and together let’s prepare you for a new generation of health care.
Adapted from Medicare.gov1
Amy Anderson joined the ILG Financial team in 2023 as the client relations coordinator. Her responsibilities include scheduling of appointments, annual check-up notifications, and annuity and required minimum distribution assistance. She is a graduate of Harding University with a degree in Computer Information Systems. Amy and her husband have two children and she enjoys reading, crocheting, music and spending time with her family.
Chase Lopez joined the ILG Financial team in 2020 as an advisor. Chase is a 2016 James Madison University graduate with a degree in management. Chase has been trained under the tutelage of Dave Lopez, who is not only the founder and managing member of ILG Financial, but also is Chase’s uncle and godfather. He also enjoys working alongside his cousin, Megan, who is Dave’s daughter. Chase, as a fiduciary, believes in putting his clients interests first, and building out plans for his clients where they can have a happy and fruitful retirement. He married his beautiful wife in February 2022 and both use most of their free time chasing around their little pup, Aurora.
Jessica Carson joined the ILG Financial team in 2018 as an agent. Jessica and her husband have four children, two dogs, 3 barn cats, 5 chickens, and three parakeets. She indeed loves her children and pets! When not at work, Jessica enjoys playing the piano and cello as well as traveling and spending time outside with her family, hiking, fishing, and boating.
Terri Center joined the ILG Financial team in 2019 as client services manager. She handles client records, application processing, and gathering information to provide a professional and friendly experience with all of our clients. Terri is a graduate of Oakland University. She is married and has two children. She enjoys hiking, family time, and puzzle challenging video games. She also likes to share her creativity in her canvas paintings and sewing projects.
Megan Jones joined the ILG Financial team in 2020 as marketing director. Megan and her husband live in Fredericksburg, VA with their German Short Haired Pointer, Gus. Megan is a graduate of Longwood University and holds a degree in communications. Megan is the oldest of Dave Lopez’s three children and not only enjoys working alongside her father, but also with her cousin, Chase, who joined the ILG Financial team in 2020 as an advisor. When not at work, Megan enjoys sitting on the back porch with family and friends enjoying food and music.