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Medicare Insurance
Obama Administration Proposes 1.9% Cut In Medicare Advantage Payments
The Obama administration made an announcement regrading payments for Medicare Advantage plans in 2015, which has set off a dispute about how small or large these changes will be. The Centers for Medicare and Medicaid Services has announced proposed rates that could mean payment reductions for 1.9% for private plans in the program. However, insurers have led fierce lobbying campaigns against these payment reductions, saying Medicare Advantage plans will suffer because lower payment rates will be combined with the new healthcare law fees on health plans. As a phase-out the star rating system, which will help buffer the Medicare plans in past years and Medicare cuts in the automatic federal spending cuts that is referred to as “sequestration.” Medicare advocates and insurers said that if these cuts occur it would cause benefit reductions and premium increases.
