How does this new way of payment work?:QuickMedicareSupplement.com

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How does this new way of payment work?

How does this new way of payment work?

Under the new Competitive Bidding Program, medical equipment suppliers who do business in a certain area, referred to as a competitive bidding area (or CBA), are required to submit a bid for certain equipment and supplies. Suppliers who offer the best price and meet Medicare's quality and financial standards are awarded a contract. These are called "contract suppliers."

In nearly all cases, only "contract suppliers" can provide people with Medicare the chosen items and file claims to Medicare for payment. Contract suppliers may not charge you more than the Medicare single payment amount (that is the competitive bid price) which may not go beyond the current Medicare (fee schedule) allowed amount.

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