H.R. 2793: Retirement Freedom Act

This bill, known as the Retirement Freedom Act, proposes a change to the Medicare program, specifically regarding Part A benefits. Here’s a summary of its main provisions:

Opting Out of Medicare Part A

The bill allows individuals who are entitled to benefits under Part A of Medicare to choose to opt out of these benefits. This means that if a person qualifies for Medicare Part A, they can decide not to receive these benefits if they wish to do so.

Process for Opting Out

Individuals opting out would need to follow a process laid out by the Secretary of Health and Human Services. This process will specify how they can formally choose to opt out.

Rejoining Medicare Part A

Those who decide to opt out will have the ability to opt back into Medicare Part A later. They can do this without facing any penalties, following a process determined by the Secretary. This ensures flexibility for individuals regarding their Medicare coverage.

Maintaining Other Medicare Benefits

Importantly, opting out of Medicare Part A does not require individuals to give up benefits under Title II of the Social Security Act. This allows individuals to maintain their Social Security benefits while choosing their Medicare options.

No Repayment Required

Individuals who opt out will not be required to repay any amounts that have already been paid under Medicare Part A for services received prior to the opt-out decision. This provision protects individuals from financial penalties related to services already utilized.

Other Considerations

Overall, this bill aims to provide more choice and flexibility for individuals regarding their Medicare coverage, particularly related to the benefits and services covered under Part A.

Relevant Companies

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