Statements of Financial Responsibility

by Marc Manor

So, there you are at your pre-op appointment with your surgeon and you are asked to sign a “Statement of Financial Responsibility” or similar document.  This document is the “Cover Your Assets”/CYA insurance for the providers involved in the procedure.  Even the most minor surgeries can cost tens of thousands of dollars, so it is not surprising with the expense of healthcare these days, providers want some CYA.  I think they also do this to motivate patients to submit complete and current insurance information.  These acknowledgements are required by providers even if you have comprehensive healthcare coverage. Here are a few steps you can take to increase the chances your claims are properly processed.  

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Here are some things you can verify with your provider and insurance company to make sure you have the required coverage:

Tricare For Life and Medicare Advantage

By Marc Manor

Until very recently, I believed that retired military personnel using their Tricare For Life benefits would not have a need for Medicare Advantage plans; however, because of the numerous additional benefits available in many Medicare Advantage plans, I have come to realize that Medicare Advantage may bring additional value and healthcare options to my retired Veteran brothers and sisters when used in conjunction with Tricare For Life.

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First let’s talk about Tricare For Life.  Tricare For Life is a benefit earned by those career military personnel who are “retired” from the military.  It is considered “wrap-around” coverage for those retired military who have both Medicare Parts A and B.  While there is typically a monthly premium for Part B, there is no charge for the Tricare For Life wrap-around coverage for those who qualify.

While in many ways, Tricare For Life works similar to Medicare Supplement Plan F (the most comprehensive Medicare Supplement plans), yet it is different because one cannot use a Medicare Supplement plan in conjunction with Medicare Advantage (Medicare Part C).  Hence the term “wrap-around coverage”!  The reason this is so significant is because retired military members with Tricare For Life can use their benefit in conjunction with Medicare Advantage and therefore have three layers of Medicare insurance coverage!

Why have multiple layers of Medicare healthcare coverage you ask?