• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Biden admin threatening your Medicare Advantage plan. Here’s what they’re not telling you
Economy

Biden admin threatening your Medicare Advantage plan. Here’s what they’re not telling you

by January 24, 2024
by January 24, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

It’s January, and with a new year comes a fresh threat to both taxpayers and seniors: Further cuts to Medicare Advantage, courtesy of the Biden administration. 

This could occur soon, as the Centers for Medicare and Medicaid Services (CMS) will release a boring-sounding ‘rate notice’ relating to Medicare Advantage in the coming weeks. 

Medicare Advantage plans are well-liked private insurance options that stand out from traditional Medicare because they can set payment methods and levels and reject certain providers. This flexibility has enabled Medicare Advantage plans to increase their value, providing better coverage and outcomes than traditional Medicare.

Depending on what CMS does, they could further incentivize seniors to move away from Medicare Advantage plans and toward traditional Medicare fee-for-service. 

Studies show that Medicare Advantage greatly aids overall Medicare solvency and delivers better value for taxpayers, consumers and seniors. So what happens in the coming weeks could matter a lot to you, your older relatives and friends, and even your kids and grandkids, who will someday bear the cost of paying for entitlements. 

A lot of people missed last year’s stealthy cuts to Medicare Advantage. And for good reason. The government worked hard to keep the cuts on the down low. 

The first troubling trick was CMS touting a growth rate for Medicare Advantage of 2.28%, which sounds like an increase, not a cut. But at the time, the country was still experiencing higher than the typical 3% inflation or more, the Congressional Budget Office was projecting a roughly 10% increase in Medicare costs, and Medicare’s Trustees projected annual growth in Medicare per enrollee spending to be 5.4%. 

In other words, this growth rate didn’t keep up with rising costs. 

Transportation Secretary Pete Buttigieg’s former employer, McKinsey, calculated the changes as amounting to a ‘1.12% effective MA rate decrease.’ This sly cut was accomplished via a make-your-eyes-glaze-over round of bureaucratic decision-making, amounting to the first post-ObamaCare cuts, yet sold as ‘reform.’ 

That second and third slick trick – boring the public to tears and throwing out the word ‘reform’ – insulated them from criticism you’d usually expect from, well, almost everyone. 

But it wasn’t just last year’s cuts that made Medicare Advantage look vastly less appealing than traditional pricey – and insolvency-risking – Medicare. CMS also eliminated 2,000 diagnosis codes, which meant less coverage for seniors in Medicare Advantage plans than conventional Medicare fee-for-service. 

CMS also instituted an absurd 48-hour mandatory waiting period for seniors hoping to chat with agents or brokers to discuss insurance options.

Then CMS famously messed around with Medicare Advantage’s star rating program. Insurers say the changes made it incredibly difficult for plans to receive high star ratings. It also appears these changes could squeeze $600 million to $700 million out of Medicare Advantage in 2025. All of this makes Medicare Advantage less appealing to seniors, which is a bad deal for the rest of us as taxpayers and future retirees. 

Now we have to wait and see if CMS bureaucrats try to make Medicare Advantage even less attractive again this year through additional cuts and more confusing rules. 

And if they do, will anyone call them out?

Despite their concern about the massive national debt, the size of the deficit and the role traditional entitlements play in those issues, many of my fellow Republicans were shockingly quiet about the attacks on Medicare Advantage last year. 

This is odd because when Barack Obama was president, basically every GOP elected official, candidate and grassroots activist screamed to the heavens about ObamaCare’s Medicare cuts, effected through slashing Medicare Advantage. 

We should be screaming once again. With conservatives likely to be hammered this election year for supposedly wanting to cut entitlements, we should be setting the record straight. 

It’s the Biden administration, not Republicans, which is cutting Medicare Advantage benefits and threatening high-quality health care for seniors while making the debt even bigger in the process.

This post appeared first on FOX NEWS
You Might Also Like
  • Missouri senator says he would torch ‘woke pornographic books’ after false claims of book burning at GOP event
  • Bitcoin and Ethereum: Bitcoin is close to a weekly high
  • Foreign policy expert reveals 2 key offensive strategies US must ‘seize’ on to win ‘Cold War’ with China
  • Oil and Natural Gas Analysis: High Volatility & Trends
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Tim Scott sets crowd alive with one-liner after Trump says he ‘must really hate’ Haley
next post
EBay to eliminate about 1,000 jobs, or 9% of full-time workforce

You may also like

Swing state Democrat cozies up to Biden ahead of consequential...

August 22, 2023

House may hold third-round speaker vote today, but path to...

October 20, 2023

What to know about JD Vance: From bestselling author to...

July 16, 2024

Border Patrol union rips Kamala Harris’ handling of border crisis:...

January 17, 2023

Ilhan Omar condemns Israel’s military response to Hamas, says ‘solution’...

October 11, 2023

Major GOP donor reveals how Trump’s former rival can boost...

May 1, 2024

How the US used AI to take on the Taliban...

August 4, 2024

‘Our country needs help’: Americans in nation’s biggest blue city...

June 15, 2023

Top Stock Gainers And Losers: PCT +29.59%, ICLR -21.03%

October 25, 2024

GOP senators blast Biden admin moves in Africa as Russia...

May 15, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,451 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    PlayDoge Game – Get The Latest...

    September 17, 2024

    Michelle Obama’s office shuts down speculation...

    March 6, 2024

    WH quietly corrects Jean-Pierre’s claim Biden...

    April 13, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here