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Medicare Blog | Medicare News | Medicare Information

What's the Advantage of MA?

Posted by Jeremy Davis on Fri, Apr 25, 2014 @ 12:17 PM

Medicare Supplements Given all the recent debate over Medicare Advantage reimbursement rates, a non-partisan company conducted an examination of extra insurance benefits provided by MA plans; benefits not covered by original Medicare; benefits frequently overlooked in discussions of MA's proportional value to consumers. When reviewing data on 2014 Medicare Advantage plans, the research found:

  • 94% of MA plans provided some form of vision coverage;
  • 71% of MA plans provided some form of dental coverage;
  • 59% of MA plans provided some form of hearing coverage;
  • 42% of MA plans offered extra insurance coverage for vision, dental and hearing together in the same plan.

Percentage of 2014 MA Plans that Offer Vision, Dental or Hearing Benefits

READ THE STUDY: http://www.healthpocket.com/healthcare-research/infostat/medicare-advantage-extra-benefits-supplemental-benefits

Source: Healthpocket.com


Additional Updates:

Tags: medicare a & b, ppo, Medicare Advantage, HMO

Retiree Health Benefits at a Crossroads

Posted by Jeremy Davis on Fri, Apr 18, 2014 @ 12:16 PM

Medicare Supplements This is a brief summary of the Medicare provisions included in the federal budget proposal for FY2015: if adopted, it would reduce Medicare spending by more than $400 billion between 2015 and 2024, accounting for about 25 percent of all reductions in federal spending included in the budget. More than one-third (34%) of the proposed Medicare savings are due to reductions in payments for prescription drugs under Medicare Part B and Part D. (UPDATED YESTERDAY). One-third (33%) of the proposed Medicare savings are due to reductions in Medicare payments to providers. About 16 percent of the proposed Medicare savings are due to increases in beneficiary premiums, deductibles and cost-sharing.

Figure 1: Distribution of Medicare Savings in President Obama’s FY2015 Budget

Figure 1: Distribution of Medicare Savings in President Obama’s FY2015 Budget

Summary of Medicare Provisions in the President’s Budget

Beneficiary Premiums, Deductibles And Cost-Sharing

  • Income-Related Part B And Part D Premiums
  • Part B Deductible
  • Home Health Copayment
  • Surcharge On Medigap Coverage
  • Part D Copayments

Dual-Eligible Beneficiaries

  • Program for All-Inclusive Care for the Elderly (PACE) Program
  • Appeals Process
  • Qualified Individuals

Other topics discussed in more detail include:

Medicare Advantage, Prescription Drugs, Physician Payments and the Sustainable Growth Rate (SGR) Formula & Medicare Payments to Other Providers

To review the full story please follow this link: http://kff.org/medicare/issue-brief/summary-of-medicare-provisions-in-the-presidents-budget-for-fiscal-year-2015

Source: Kaiser Family Foundation

Additional Updates:

Tags: Medicare Supplement, Part D

CMS Increases Medicare Advantage Rate By 0.4%

Posted by Jeremy Davis on Fri, Apr 11, 2014 @ 12:47 PM

Medicare Supplements Federal regulators on Monday boosted planned payments to insurers that run private Medicare Advantage plans, issuing final rates that were higher than the cuts regulators proposed in February. The Fed will increase the overall rate it pays Medicare Advantage plans by 0.4% in 2015, despite a proposed policy issued in February that signaled a 1.9% cut. Analysts said the final 2015 rates still appeared to reflect a reduction in payments (as much as 3%) compared with 2014. The increase came as a surprise.

The Fed raised 2014 base payments for Advantage insurers by 3.3% last year, after initially proposing a 2.2% reduction. CMS scraped up part of the 2.5% increase in the actual bidding benchmark by changing the way it calibrates one Medicare Advantage risk management program and slowing the phase-in of another risk management program that could have decreased the benchmark Medicare Advantage plans earned an average profit of 4.5% for insurers in 2011, according to the Government Accounting Office. Nearly 16 million people are enrolled in Medicare Advantage plans, accounting for roughly 30% of all eligible beneficiaries, up about 9% from 14.6 million last year. The Congressional Budget Office projects Medicare Advantage enrollment will hit 21 million by 2023.

Additional Updates:

Tags: Medicare Advantage, medicare blog, medicare update 2014

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