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  • Is it Harder for Millennials to Save for Retirement than it was for Baby-Boomers?

    Millennials vs. Baby Boomers

    A recent article by Alessandra Malito shows that Millennials are running behind on saving for retirement. Not everyone is saving for retirement, they are either living paycheck to paycheck or have no job at all. Many others are not taking advantage of IRAs or other retirement savings accounts. So, this made us ask the question, is it harder for Millennials to save for retirement than it was for Baby-Boomers?

    What Advantages did Baby Boomers have?

    Boomers had the advantage of growing up in one of the best economies in history and had low tuition costs while in College. How inexpensive was an education? In 1965-66 the average for a four year school was only $1,375. Baby Boomers were able to save more money with tuition and had a great job market to go into after school!

    What Disadvantages did Baby Boomers have?

    Baby Boomers are at risk for being considered poor or near poorer than in the last 40 years because of the economy changes. They also did not have the access that we do when it comes to saving for retirement planning and saving options. 401(k)s have only been around since the 1980’s. One can only imagine how much Baby Boomers could have saved on taxes and in wise investments if they had been in existence since they entered the workforce. Baby Boomers also didn’t have access to the tools and information that is now available today. Whether banking directly on their phone, online trading, or financial research. In short, Baby Boomers did not have the technology available to research, monitor, and contribute as quickly and easily as we do so today.

    The Millennial Advantages!

    Studies show that since the baby boomer’s time, tuition has increased by more than 150 percent! This has made college nearly impossible for today's millennials to go without incurring huge debt. However, Millennials can qualify for more grants, loans and other saving options than ever before. Some grants are as simple as living in the same state as the school you attend! Baby Boomers may have had the better cost of tuition overall but Millennials have help for books and other supplies through direct loans, scholarships, and grants. With programs like that to help Millennials they will be less in debt as they get older and will not have as many issues saving for retirement. Lastly, with the growth of online learning, there are many more ways to learn a trade or skill, though it may not include a diploma.

    How Have Millennials Had It Harder?

    The fact is that Millennials have had it tough. The economy was the worst it has ever been since The Great Depression when they entered the workforce, the cost of living and real estate has gone through the roof. So, while Millennials have many great options and tools for saving, there isn’t much money to save! Having the technology at your fingers isn’t much help if you have no extra money to save. Therefore, the Millennials savings will suffer saving for retirement as the Boomers did - due to different causes, but a similar outcome. Further, with the workforce waiting longer to retire, Millennials are having to wait for management and executive level positions to open up (find avg retirement age from 1975 vs 2015). Technology is also becoming a competitor for many jobs. A.I. and Bots are quickly becoming a customer service and administrative answer for many companies. It's definitely an unknown future for the Millennials' job market!

    What do you think? Who has it harder and why?? Feel free to Share!

  • CareCredit: A Quick and Easy Guide to Quick and Easy Financing Medical Equipment

    Care Credit Logo

     

     

    What is CareCredit?

    • CareCredit is a dedicated credit card for health and beauty expenses*
    • Convenient monthly payments*
    • Quick and easy application process
    • Flexible terms
    • Can use for entire family*
    • Immediate Access* (some limitations may apply)

    *Subject to credit approval.

    No application fees, or annual fees mean that you can focus on what is important: your healthcare. (Because there are no minimum purchase limits with CareCredit you can use it on everything from parts, to beds, scooters, and more!)

    Great financing for purchases larger than $200; 6-Month Deferred Interest Financing- If your card balance is paid off within 6-months of the purchase date you pay no interest on your purchase!

    After 6-months if the balance is not paid in full the total interest accrual (at 26.99% APR from the beginning of the finance period) will be owed in addition to the remaining balance on the card.

    Example: The Nitro DLX Euro Style Rollator qualifies for 6-month deferred interest financing; meaning for 6 payments of $41 this beauty can be yours.

    Making a purchase larger than $1000? We’ve got you covered! Choose between 24, 36, or 48 month fixed rate financing- You have the power to choose how much time you need to pay for any purchase over $1,000 with a fixed APR of 14.90%.

    Purchase over $2,500? Not a problem when you have 60 month financing with a fixed APR of 16.90%.

    The best part? CareCredit is not limited to just one place; you can use your CareCredit Financing for everything from medical supplies, doctor’s visits, emergency surgeries, even veterinary care!

    You already get this item tax-free and with free shipping; why not give yourself an even better deal this month?

    I’m ready to pay at my own pace but how do I get started?

    The application process is so easy, and all you have to do is click to apply online

    Paying My Bill

    You can choose your item on HME Medical Shop and Checkout, just choose Purchase Order during Checkout and Include Care Credit as the Purchase Order Number. Make a payment or paying off your bill is as easy as a mouse-click away with online payments at CareCredit.com. Once your item is paid for we will ship it! On the go and want to make your payment by phone? Just call ...

  • Medicare Reimbursement and Me: A Guide to Filing for Reimbursement

    How do I know when to file a claim?

    When a provider, such as a medical supply company, does not accept a Medicare assignment you will need to begin the process to file a claim for reimbursement.

    How do I know what will be reimbursed?

    All claim reimbursement is governed by the set standard Medicare reimbursement rates, even if your bill from the provider was more than the approved Medicare amount. Non-participating medical suppliers are not subject to charge limiting but your reimbursement amount will remain the same.

    How do I file a claim?

    Once you’re ready to file your claim to Medicare you will need a few things to make sure that your claim can be processed quickly and you receive the amount of your set standard Medicare reimbursement rate.

    You will need a copy of the Medicare CMS-1490S form (also known as the Patient Request for Medicare Payment form), an itemized bill from your medical supply company, a letter explaining why you are submitting the claim (Medicare not accepted by provider, etc.), and any supporting documentation (such as a prescription, or doctor/physical therapist recommendation form). HME Medical Shop can provide this letter after your purchase. Just call or reply back to your confirmation email!

    Do I need to fill out an Authorization to Disclose Personal Health Information?

    This form is only necessary if:

    • Someone is contacting Medicare on your behalf
    • If you are authorizing Medicare to give your personal medical information to someone other than yourself

    How long do I have to file for Medicare Reimbursement?

    You have 12 months from your service date to file for reimbursement on all purchases covered by Medicare claims.

    Once you have all of your information together you will need to submit your claim to the proper Medicare office. They are listed below for your convenience but are also located with the CMS-1490S form.

     

    If you live in:Return your form to:
    Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, VermontNoridian Healthcare Solutions P.O. Box 6780 Fargo, ND 58108-6780
    Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, WisconsinCGS Administrators, LLC P.O. Box 20013 Nashville, TN 37202
    Alabama, Arkansas, Colorado, Florida, Georgia, Louisiana, Mississippi, New Mexico, North Carolina, Oklahoma, Puerto Rico, South Carolina, Tennessee, Texas, U.S. Virgin Islands, Virginia, West VirginiaCGS Administrators, LLC P.O. Box 20010 Nashville, TN 37202-0010
    Alaska, American Samoa, Arizona, California, Guam, Hawaii, Idaho, Iowa, Kansas, Missouri, Montana, Nebraska, Nevada, North Dakota, Northern Mariana Islands, Oregon, South Dakota, Utah, Washington, WyomingNoridian Healthcare Solutions P.O. Box 6727 Fargo, ND 58108-6727
  • How to Assemble the Drive Scout Power Scooter

    Assembling the Scout Power Scooter is a very simple task. It's just as easy to Disassemble for travel or storage. Watch the Video below while a certified Drive Medical technician breaks down the steps for you!

  • How to Test a Power Wheelchair or Scooter Motor

    A) Set your test meter to the lowest OHMS scale. Verify that the brake is engaged. Insert the test leads into the top two terminals in the plug. You should be reading the resistance of the brake. It will be between 50 and 85 Ohms.

    testerB) Insert the test leads into the bottom terminals. You will be reading the armature resistance, which is very low, between .8 and 5 Ohms.If you get no reading at all, or a direct short (0 ohms) in either location then it is defective and the motor/brake must be replaced.

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