rate cuts to health insurance companies come after Medicare Congress payment advisory Commission found that the government paid the insurance companies 14 percent more for Medicare Advantage it spent on its Medicare program. Since then, President Obama expressed his belief that the $ 132 billion in program is unnecessary and has worked to reduce costs.
Insurance companies have been waiting for the government to reduce reimbursement rates closer to government health insurance rates by Businessweek.
Insurance companies force cuts to increase premiums, cut benefits and reduce administrative costs. And even with these changes, the insurance companies that offer Advantage were still able to win consumers who have seen an average increase of 14.2 percent for 2010.
Medicare Advantage plans offer more benefits the health insurance program run by the government. The plans also offer lower out-pocket costs with the vision and dental care that makes politics more attractive than the government plan.
These rate cuts come at a time a strong political opposition to raised premiums may finally discourage the decision of the CMS.
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