The Biden administration has finalized slight cuts to the 2025 Medicare Advantage payment rates, despite significant lobbying from insurance companies. These companies had urged the government to reconsider, based on their medical cost data, but were ultimately rebuffed. The decision, which sees a base payment reduction of an average of 0.16%, comes amid reports that Medicare (Dis)Advantage plans have been overcharging patients by 22%, costing taxpayers approximately $83 billion annually. This move is part of broader efforts to curb the privatization of Medicare, which critics argue prioritizes profits over patient care. The changes are expected to ensure stability for people with Medicare, as per the Centers for Medicare & Medicaid Services (CMS). This development follows concerns over the rising medical costs faced by Medicare Advantage plans and the pressure it places on the government's payments to these plans.
A semi-serious question is whether the health insurer selloff on Medicare Advantage rates will actually translate into a better (ie lower) Fed rate in 2025 https://t.co/yZ67HPqdLF
The Biden administration on Monday followed through on its proposal to cut next year's base payments to Medicare Advantage plans an average of 0.16%, despite pressure from insurers and their allies in Congress. https://t.co/GkM2nCDRhf
Heard on the Street: Medicare Advantage plans had already been facing an unusual rise in medical costs. Now, the payments they get from the government also are squeezing them from the other side. https://t.co/JGR9UcCF8F https://t.co/JGR9UcCF8F
Medicare Advantage plans to see 2025 base pay fall https://t.co/NC0kHdQWMj @mayagoldman_
Biden administration sticks with slight cuts to 2025 Medicare Advantage payments despite insurers' lobbying for an increase https://t.co/7MTX6ZXvol via @statnews
Biden administration sticks with slight cuts to 2025 Medicare Advantage payments https://t.co/gcLS6jGTPh
Final 2025 Medicare Advantage payment rates are here. Health insurers are gonna be incensed. Insurers whined and begged for Medicare to look at their medical cost data, and the federal gov't told them to chill out with that noise. https://t.co/ki3xkDmB0U
CMS finalized the CY 2025 Rate Announcement for the Medicare Advantage and Part D Prescription Drug Programs that updates payment policies and ensures stability for people with #Medicare.
NEW: I wrote an op-ed w/ @wendellpotter on Medicare (Dis)Advantage & how private insurance companies are scamming seniors out of higher quality health care. Medicare (Dis)Advantage plans increase costs, provide worse coverage, & delay care. We must crack down on these programs. https://t.co/eOnUeMvRXd
Medicare Advantage Is in a Tough Spot. Monday Is a Critical Day. https://t.co/C3LDOMcAye
ICYMI: Medicare (Dis)Advantage plans are overcharging patients by 22%, costing taxpayers $83 billion/year. We need to stop this privatization of Medicare that puts profits over patients & keep working to expand health care for seniors and all Americans. https://t.co/V3nF3RNSID