What happens if a provider accepts Medicare assignment?

When a provider accepts Medicare assignment, it means that they agree to accept the Medicare-approved amount as full payment for the services provided. This is significant because it establishes a clear agreement between the provider and Medicare that the provider will not charge the patient more than the approved amount for a covered service.

This arrangement benefits patients, as it typically means lower out-of-pocket expenses for them. Instead of facing possible balance billing, where a provider could charge them the difference if the billed amount exceeds Medicare's approved rate, patients can rest assured knowing that they will only be responsible for the copayment, coinsurance, or deductible as determined by their specific Medicare plan.

By accepting Medicare assignment, providers streamline the payment process, reduce the financial burden on patients, and help ensure compliance with Medicare's regulations.