After a heated debate to cut spending for Medicare Advantage plans by as much as 1.9 percent, a sudden turn of events will now increase spending by 0.4 percent. This is a huge win for the more than 16 million Americans who are enrolled in Medicare Advantage plans.
The government pays private health insurance companies to provide benefits to Medicare participants via Medicare Advantage plans, which have become extremely popular in recent years with their low or $0 premiums, low Copays, and even $0 deductibles.
Many plans also include additional benefits such as hearing, vision, and dental – benefits not covered by traditional Medicare.
Read the full story on this breaking news here: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/04/07/obama-administration-reverses-proposed-cut-to-medicare-plans/?wprss=rss_business&clsrd.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.