SOME GOOD NEWS FOR SENIORS The Patient Protection and Affordable Care Act, also known as Obamacare, was passed in 2010. The Centers for Medicare and Medicaid Services, or “CMS” -- included what was expected to a mid single digit drop in reimbursements for insurers who provided Medicare Advantage plans. HMO insurers who provide Medicare Advantage plans made it clear that if these rates were to continue into 2014 they would simply reduce the amount of benefits offered and shrink the overall scope of the provider network. The insurers operating in the Medicare Advantage industry were informed by the “CMS” that it had decided to reverse its original recommendation of a 2.3% reimbursement cut in 2013 in favor of a 3.3% increase in the rate of reimbursement! The bigger story appears to be the kick in the shin that Obamacare just took at the hands of the insurance industry. By exerting its lobbying power -- hinting at the possibility of reducing benefits for 13 million-plus seniors in 2014 -- and getting some 160 lawmakers to write letters to persuade the CMS to change its opinion, the insurance industry effectively dictated itself a raise. The score now stands: Insurers, 1; Obamacare, 0 -- whose turn is it next and what will happen in 2014?
Posted on: Tue, 16 Jul 2013 16:54:07 +0000
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