The Biden administration somewhat quietly announced cuts to next year’s base payments to Medicare Advantage plans, adding concerns to an already unstable economic environment.
According to multiple reports, the administration will be decreasing that base pay by 0.16 percent, which may not seem like much, but it can have a big impact on enrollees.
What they’re saying: “These policies will put even more pressure on the benefits and premiums of 33 million Medicare Advantage beneficiaries who will be renewing their coverage this fall,” said Mike Tuffin, CEO of the insurer trade group AHIP.
What we’re watching: Biden administration officials say enrollees’ benefits should remain stable next year, but plan bids due June 1 could show scaled-back benefits and premium adjustments, said Duane Wright, a senior research analyst at Bloomberg.
- “President Biden’s team is gambling that MA…
