Next month if the government goes through with proposed cuts; millions of Medicare recipients could face costlier premiums or reduced coverage next year.
Those at risk are the 3.3 million retirees nationally who receive Medicare Advantage benefits through former employers or unions. Under those plans, the companies or unions arrange for Medicare Advantage coverage for their retirees through private insurers. These plans usually offer added benefits compared to typical or traditional Medicare.
The Centers for Medicare and Medicaid Services are expected on April 4th to lower reimbursements to insurance companies that off the plans; however, the change would not go into effect until next year. Senate Majority Leader Mitch McConnell and Sens. Chuck Grassley, of Iowa, John Cornyn of Texas; Johnny Isakson, of Georgia and Dan Coats, of Indiana are among other Republicans that signed a letter to the Medicare agency last week and “strongly urged” the agency to consider the impact these changes would be to the Medicare beneficiaries. Read the article here…..
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