The 2013 Medicare Advantage Guidelines
The Obama administration recently sent the 2013 policy and payment guidelines to US health insurers who wish to participate in the Medicare Advantage program. According to management, the proposed changes to the guidelines would result in lower premiums and stable or improved benefits. Because the guidelines had no inclusion of any official estimate of the average net percentage difference in reimbursements, many financial markets and insurers ignored the possible impact of the Medicare Advantage guidelines of 2013 in the industry. Click here to find out more.
Low fees and stable rewards are likely to continue
Medicare private health plans, popularly referred to as Medicare Advantage policies and prescription medication policies (Part D of Medicare), have very low premium rates and stable rewards. Federal officials are of the opinion this trend is likely to continue in 2013.
Employees reported a percentage growth in Medicare per capita expenses and stated that this will be used to determine and set rates for Medicare Advantage plans in 2013. According to the Centers for Medicare and Medicaid Services (CMS), the agency that manages the Federal health care program for the elderly, the 2013 guidelines project an annual growth rate of 2.47% and a per capita growth rate of 2.3% next year. In a statement issued by the agency, “this positive rise in trend will help guarantee that beneficiaries maintain a selection of policies without a huge increase in cost or decreases in benefits.” CMS officials added that the total and final 2013 net rate announcements will be published and published on April 2, 2012.
CMS said it is accepting public comments about the 2013 policy and payment guidelines for Medicare Advantage plans and prescription drugs. In accordance with the Early Warning and Call Letter for 2013, CMS will exercise its authority under the Affordable Health Care Act to deny offers from plan insurers that propose a “very significant” increase in beneficiary cost sharing or a decrease in the benefits.
What are Medicare Advantage plans?
About 25% or 48 million Medicare beneficiaries participate in Medicare Advantage plans (MA plans). Unlike traditional Medicare, MA plans are offered by private health insurance companies. Its goal is to replace Medicare, unlike Medicare supplement insurance plans, which only complement Medicare Parts A and B.MA plans are very popular among beneficiaries since they have no medical subscription. All Medicare beneficiaries are guaranteed acceptance, except ESRD. These plans are also called Medicare Plan C because they combine the benefits provided by Medicare Parts A, B and part of the Part D coverage.