What does IMM stand for in Medicare?
IMPORTANT MESSAGE FROM MEDICARE (IM or IMM): A hospital inpatient admission notice given to all beneficiaries with Medicare, Medicare and Medicaid (dual-eligible), Medicare and another insurance program, Medicare as a secondary payer.
What is an IMM?
IMM stands for the International Monetary Market. Interest Rate products that have an original maturity of less than 366 days, trade in what is commonly referred to as the “Money Market”. The IMM index is the pricing convention and the IMM date is the date of expiration for these products.
Who gets an IMM?
CMS has defined how this “Important Message from Medicare” (IM) is to be delivered by hospitals to Medicare beneficiaries: The IM is a standard notice that must delivered to all Medicare inpatients within two days of admission and no more than two calendar days before discharge.
When should the IMM be given?
Hospitals must issue the IM within two calendar days of admission, obtain the signature of the beneficiary or their representative and provide a copy at that time. Hospitals will also deliver a copy of the signed notice as far in advance of discharge as possible but not more than two calendar days before discharge.
What is an IMM index?
IMM stands for the International Monetary Market. Interest Rate products that have an original maturity of less than 366 days, trade in what is commonly referred to as the “Money Market”. The IMM index is the pricing convention and the IMM date is the date of expiration for these products.
What is IMM swap?
A interest rate swap (typically, a fixed-floating swap) the expiration or termination dates of which follow the cycle of international money market futures and IMM futures options. That is, the reset periods of the floating leg are the IMM Eurodollar futures contract delivery dates.
What protection does the Important Message from Medicare IMM form explain to the patient?
An Important Message from Medicare is a notice you receive from the hospital and sign within two days of being admitted as an inpatient. This notice explains your rights as a patient, and you should receive another copy up to two days, and no later than four hours, before you are discharged.
Can Medicare kick you out of the hospital?
Medicare covers 90 days of hospitalization per illness (plus a 60-day "lifetime reserve"). However, if you are admitted to a hospital as a Medicare patient, the hospital may try to discharge you before you are ready. While the hospital can't force you to leave, it can begin charging you for services.
What is IMM and moon?
The NOTICE Act, passed by Congress and signed by the President in 2015, requires hospitals to provide the Medicare Outpatient Observation Notice (MOON) to all patients who receive observation services for more than 24 hours and to deliver this notice prior to the 36th hour of observation services.
What is explained in the Medicare outpatient observation notice?
The “Medicare Outpatient Observation Notice”, or “MOON,” is a standardized document that Medicare developed for hospitals to use to explain observation status. All Medicare patients receiving observation services for more than 24 hours must receive a MOON.
What is the purpose of the IM notice?
The IM informs hospitalized inpatient beneficiaries of their hospital discharge appeal rights. A Detailed Notice of Discharge (DND) is given only if a beneficiary requests an appeal. The DND explains the specific reasons for the discharge.
What are the four levels of Medicare appeals?
First Level of Appeal: Redetermination by a Medicare Administrative Contractor (MAC) Second Level of Appeal: Reconsideration by a Qualified Independent Contractor (QIC) Third Level of Appeal: Decision by the Office of Medicare Hearings and Appeals (OMHA) Fourth Level of Appeal: Review by the Medicare Appeals Council.