TRIP

Enrollment Up, Premiums Down in Medicare Advantage Plans

MedPageToday, 2012

found the government overpaid private insurance companies administering Medicare Advantage plans by as much as $3.1 billion in 2010.
Current Medicare Advantage payments are closer to 7% higher than traditional Medicare plans, Jonathan Blum, MD, director of Medicare for the Centers for Medicare and Medicaid Service, told reporters on a Wednesday morning call.
The Congressional Budget Office (CBO) estimated that the cuts would lead to fewer seniors enrolling in the private plans, which currently provide insurance for about one in four Medicare beneficiaries.
But, according to HHS Secretary Kathleen Sebelius, the cuts in the ACA did not deter insurers from offering Medicare Advantage plans.
While there are fewer individual plans now than before passage of the law, no insurer stopped offering Medicare Advantage plans altogether, and there are on average 26 different plans to chose from in nearly every county in the country.
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