Compare and contrast Medicaid and Medicare. Discuss the 4 components of Medicare. Where are these 4...

Compare and contrast Medicaid and Medicare.
Discuss the 4 components of Medicare.
- Where are these 4 components applicable and why is it important to know this information?

Discuss the collections process.
- Describe the statement, dunning notices, and rules regarding the collection process.

Expert Solution

Medicare is a federal program that provides health coverage if you are 65+ or under 65 and have a disability, no matter your income. Medicaid is a state and federal program that provides health coverage if you have a very low income. ... They will work together to provide you with health coverage and lower your costs.

There are four parts of Medicare: Part A, Part B, Part C, and Part D.

Part A provides inpatient/hospital coverage.
Part B provides outpatient/medical coverage.
Part C offers an alternate way to receive your Medicare benefits (see below for more information).
Part D provides prescription drug coverage.

There are four parts of Medicare: Part A, Part B, Part C, and Part D. Part A provides inpatient/hospital coverage. Part B provides outpatient/medical coverage. Part C offers an alternate way to receive your Medicare benefits (see below for more information).

What do Medicare Parts A, B, C and D mean?

Part A helps pay for hospital and facility costs. ...
Part B helps pay for medical costs. ...
Parts A and B together are called Original Medicare. ...
Part C helps pay for hospital and medical costs, plus more. ...
Part D helps pay for prescription drugs.

Your creditor hires a collection agency to help collect payment. It may even sell your debt to the agency, which means your creditor no longer has any involvement in the process going forward. You would be working solely with the collection agency to pay back the debt.

Dunning notice is a collection letter sent to defaulting debtor demanding payment by the creditor. When the debtor makes delay in payment or arrangement to settle the debt for a longer period, the dunning notices get more and more stronger.

Those rules include: They must identify themselves as a debt collectionagency and give their name and the address for the collection agency. They must tell you the name of the creditor (company or person you owe), the amount you owe and how you can dispute the debt or seek verification of the debt.

Nightingale answered 1 year ago

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Compare and contrast Medicaid and Medicare. Discuss the 4 components of Medicare. Where are these 4...

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