What Is a Medicare Fiscal Intermediary?
A Medicare fiscal intermediary is a private insurance company that acts as an agent for the federal government in the administration of the Medicare health insurance program. One of the primary responsibilities of a Medicare fiscal intermediary is to manage the payment of claims.
Medicare is a federal government-based health insurance plan that provides coverage to vulnerable populations, such as elderly Americans who are aged 65 and older. While the government funds Medicare, it doesn't directly handle all aspects of the program. Instead, it uses private insurance companies, such as Empire Medicare Services in New York, as fiscal intermediaries to administer certain aspects of the program. The primary responsibilities of a Medicare fiscal intermediary is to review the appropriateness of medical coverage under the insurance and to handle reimbursement for services provided by doctors and medical facilities.