This is one of my FYI posts for I watch policies that could effect our seniors….the biggest thing that seniors need to be aware of is the ‘medicare advantage plans’….they are not all they are cracked up to be.
I have made my thoughts known about these so-called Medicare Advantage plans….I think it is taking advantage of seniors who are worried about their aging body.
But as usual the insurance industry has spent its cash well….all the facts point to these ‘advantage” plans are little more than a scam….the president has allowed this raping of seniors to continue.
Medicare Advantage providers whined for months that they simply couldn’t survive without being able to rip off the government, so the government said ‘you can rip us off for just a little longer,'” The American Prospect‘s David Dayen tweeted in response to the CMS announcement.
The changes involve tweaks to the Medicare Advantage risk-adjustment model, which determines how much the federal government pays insurers to cover patient care.
Medicare Advantage plans are notorious for piling on diagnoses to make patients appear sicker than they are to reap larger payments from the federal government. CMS estimates that overpayments to Medicare Advantage totaled $11.4 billion in fiscal year 2022, a sizeable drain on the Medicare trust fund.
“Nearly every large insurer in the program has settled or is facing a federal fraud lawsuit for such conduct,” The New York Timesnoted Friday. “Evidence of the overpayments has been documented by academic studies, government watchdog reports, and plan audits.”
Medicare Advantage insurers have been fighting the Biden administration’s proposed changes for months, running ads warning that the reforms would result in higher premiums and worse care for patients—claims that federal health officials adamantly rejected.
The lobbyists for the insurance industry has buckets on money to throw at Congress we, the people, do not.
Plus Wall Street is happy with the Biden decision….
UnitedHealth Group, a dominant force in the lucrative Medicare Advantage market, has seen its stock jump over the past week as Wall Street analysts and investors embrace the Biden administration’s decision to delay reforms aimed at tackling abuse in the privately run, government-funded health program.
STATreported late last week that “Wall Street was overjoyed” by the announcement from the Centers for Medicare and Medicaid Services (CMS), which said it would phase in changes to the model that dictates how much government funding Medicare Advantage insurers receive to cover patient care.
Instead of implementing the changes all at once, the Biden administration will roll out the reforms over a three-year period, allowing Medicare Advantage insurers to continue overbilling the federal government in the meantime.
Oh there is AARP to protect seniors….that is a lie for they endorse a ‘plan’ that is scamming their members.
Please if you are considering one of these ‘plans’ think twice and check out the evidence before wasting your cash.
I Read, I Write, You Know
“lego ergo scribo”
5 thoughts on “Biden Enables The Fraud”
Worse, of you enroll in one of those plans, you could lose some coverage under your original Medicare … I have heard of it happening …
Like I said an insurance company scam chuq
And our current government has the hots to replicate your failed private system in this country. It can only end in disaster, and the death of the NHS.
Best wishes, Pete.
Your conservs have learned from their colonial brothers….LOL chuq