3 Medicare Advantage plans you should consider
One of the comments that health care professionals say they hear from Medicare Advantage members is something along the lines of, “Inflation is really affecting my daily life, and I cannot afford a health care plan that is going to cost me money.”
UnitedHealth commits $1.5 billion for premium rebates and new cost-sharing waivers
UnitedHealth Group announced Thursday it will provide $1.5 billion in direct financial relief for its customers in the form of premium rebates for consumers on individual and small group employer plans, and cost-sharing waivers for seniors on its Medicare Advantage plans. The nation's largest health insurer says employers and individual members enrolled in its UnitedHealthcare fully insured health plans will receive a 5% to 20% premium credit on their June billing statements. As of March 31, the company had 8.2 million members enrolled in those plans. "As you know, people are hurting right now. Some insurers and hospital operators have reported surgical volumes and non-Covid-19 emergency room visits in April down 40% or more from a year ago, which is more than offsetting increased costs on coronavirus care and expenses.cnbc.com
U.S. watchdog finds $6.7 billion in questionable Medicare payments to insurers
(Reuters) - A U.S. government watchdog is raising fresh concerns that health insurers are exaggerating how sick Medicare patients are, receiving billions of dollars in improper payments as a result. Medicare Advantage plans are privately-run alternatives to traditional Medicare. Americas Health Insurance Plans (AHIP), an industry trade group, said the rate of improper payments in the Medicare Advantage program has been decreasing. Everyone agrees that Medicare Advantage payments must be fair and accurate, and we continue to work with (Medicare) to improve payment accuracy, said AHIP spokeswoman Kristine Grow. The U.S. government pays Medicare Advantage insurers based on a risk score for each enrollee.feeds.reuters.com
Medicare Advantage plans tout Apple Watches, Fitbits, meal delivery and other cool perks in 2020
Medicare Advantage plans are big business for insurers and rule changes are allowing them to up their offerings. The Centers for Medicare and Medicaid Services (CMS) first allowed insurers to offer supplemental benefits in the 2019 plan year, but only 3% of plans took advantage. For the 2020 year, CMS said more than 500 plans are participating with many going further in what they offer. In addition, more than half of all plans will offer additional telehealth benefits.sun-sentinel.com
Making most of Medicare annual election period
(StatePoint) Medicare Advantage (MA) plans are increasingly popular, offering robust benefits including vision, health, dental, drug coverage and more. For the more than 22 million people with an MA plan, the Medicare Annual Election Period (AEP), running from Oct. 15Dec. When comparing plans, pay attention to extra benefits not available in Original Medicare and consider whether youre likely to use them. Many MA plans cover health screenings beyond those covered by Original Medicare. You can also check health plans websites or call their customer service for more information.sfltimes.com
CBO says House Speaker Nancy Pelosi's drug pricing plan saves Medicare $345 billion over decade
House Speaker Nancy Pelosi's bill to lower prescription drug prices would save Medicare $345 billion over 10 years, according to a preliminary analysis from the nonpartisan Congressional Budget Office. The savings wouldn't begin until 2023, assuming the bill gets passed by both the House and Senate and signed by President Donald Trump before the end of this year, the CBO said in the report released late Friday. The greatest savings would come in 2028 at $93 billion, according to the CBO, an independent agency that reviews congressional spending. The CBO said the largest savings would come from the provision that allows Medicare to negotiate lower prices on as many as 250 of the most expensive drugs per year and apply those discounts to private health plans across the U.S. The legislation includes a penalty on pharmaceutical companies that refuse to negotiate or fail to reach an agreement with the U.S. government, starting at 65% of the gross sales of the drug in question.cnbc.com
Trump signs Medicare Advantage order at Central Florida's The Villages
Trump chose the retirement community of about 120,000 retirees as the place to announce an executive order allowing the Department of Health and Human Services to expand Medicare Advantage, the private insurance option under Medicare. Trump promised Republicans "will always" protect patients with pre-existing conditions, and he said Medicare Advantage patients will experience less waiting times. WPLG-Local 10 NewsMedicare Advantage offers coverage of prescription drugs, dental and vision and it doesn't require "Medigap," which is separate supplemental private insurance. Critics of the plan have said the Trump administration is prioritizing private insurance companies' interests. "I think President Trump is looking out for the seniors," Raiford said.
Trump signs Medicare Advantage order at Central Florida's The Villages
THE VILLAGES, Fla. - Republicans at Central Florida's The Villages, a mega retirement community, welcomed President Donald Trump Thursday with cheer, as he stood in front of a "Great Healthcare For You" sign. Trump chose the retirement community as the place to announce an executive order allowing the Department of Health and Human Services to expand Medicare Advantage, the private insurance option under Medicare. Trump promised Republicans "will always" protect patients with pre-existing conditions, and he said Medicare Advantage patients will experience less waiting times. Critics of the plan have said the Trump administration is prioritizing private insurance companies' interests. "I think President Trump is looking out for the seniors," Raiford said.
Trump visits Florida to announce Medicare Advantage order
THE VILLAGES - President Donald Trump chose a Florida retirement community to outline his vision for Medicare Advantage, a program for the elderly and disabled that would allow private insurers to provide benefits instead of the government. The president is scheduled to present the "Protecting Medicare from Socialist Destruction" executive order at The Villages, a mega-retirement community that covers Marion, Lake and Sumter counties, a Republican stronghold that Trump won in 2016. "Trump and his administration have worked to provide seniors with high-quality, affordable care in the Medicare program and improved options through Medicare Advantage," White House spokesman Judd Deere said in a statement. On Thursday, Trump will be the second sitting Republican president to visit The Villages. According to the Trump administration, Medicare Advantage beneficiaries will have more plan choices, with about 1,200 more plans operating in 2020 than in 2018, and its monthly plan premium is expected to decrease 14 percent to $23.00 in 2020 from an average of $26.87 in 2019.
Medicare Advantage Provider and Physician to Pay $5 Million to Settle False Claims Act Allegations
The United States relies on healthcare providers to submit accurate diagnosis data to Medicare Advantage plans to ensure those plans receive the appropriate compensation from Medicare, said Assistant Attorney General Jody Hunt of the Department of Justices Civil Division. Medicare pays MAOs a fixed, monthly amount to provide health care coverage to Medicare beneficiaries who enroll in their plans. MAOs often contract with physician groups and other healthcare providers to provide care to Medicare beneficiaries enrolled in their plans. In this case, several MAOs in California contracted with Beaver to provide health care to Medicare beneficiaries enrolled in their plans. The governments intervention in this matter illustrates its emphasis on combating health care fraud.justice.gov