Politico - A Medicare official concedes that seniors may have to dig deeper into their wallets next year thanks to the health care law.
The new analysis obtained by POLITICO finds the health care overhaul will result in increased out-of-pocket costs for seniors on Medicare Advantage plans.
Richard Foster, the actuary for the Centers for Medicare and Medicaid, also tells Senate Republicans that the overhaul will result in “less generous benefit packages” for Medicare Advantage plans next year. Foster is independent from the administration and non-partisan.
Democrats have long contended that Medicare Advantage plans – private insurance alternatives to Medicare – overpay private insurers, increasing premiums for everyone, and needs to be reformulated.
But Republicans say dramatic changes to the program mean some seniors won’t be able to keep their plans – a promise President Barack Obama made during the reform debate – and the GOP has made the issue part of its attempt to roll back the health law.
Sen. Chuck Grassley (R-Iowa), ranking member of the Senate Finance Committee, says the administration is trying to downplay the effects of the overhaul on the Medicare Advantage plans.- Read more > > >
Blog author's comments - Aw, no kidding! How can that be? They promised that if Obamacare was passed the cost would go down, didn’t they?
Oh, and by the way, sorry there will be no cost of living adjustment for you either. I know that food and energy costs are skyrocketing, but they don’t count those in their COLA equation any longer. They hope you will be understanding and can get through another year without any money.
Also as you should know by now it's George Bush’s fault. Just remember...Nancy Pelosi said, "We have to pass the bill, so we will know what is in it." They passed the bill but that did not seem to help.
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