In a press release on August 4, 2020, CMS announced a policy that allows Medicare issuers to offer temporary premium reductions for individuals with 2020 coverage. This premium Medicare reduction will help you pay your premiums, so you can continue to receive the care you need during the coronavirus COVID-19 public health emergency. CMS administrator, Seema Verma, says,
“Today’s action is just the latest in a series of flexibilities CMS has extended to health insurers to help them support their enrollees during this unprecedented time.”
Medicare Premium Reductions in 2020
Seniors who have trouble paying their Medicare Premiums can get a reduction for one or more months in 2020. The COVID-19 Pandemic continues to cause sickness and death, especially in seniors. When consistent with state law, this policy allows issuers to offer temporary premium reductions until the end of 2020.
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