I've been gone for a while, traveling and also to take some time away from the world and its problems, lighten up, have a little fun.
Started lurking a week or so ago after reading about sequester Medicare cuts have private oncologist firms talking about denying treatment to Medicare patients so came here to see if anyone writing about that.
Also had seen a headline about Chained CPI and thought I would see if anyone was going to push back. Glad to see that happening, and with gusto.
Think I have bronchitis or some upper respiratory infection so did not participate in the Hell No blogathon because did not feel like doing a diary.
Read this today and had to speak out because this is one of the most nefarious things I have seen the Obama Administration do.
Still doing it: pandering to the needs and of desires of Big Insurance and Big Pharma while pushing more of us into the cold.
One physicians group is shining a light, and I hope many here will as well.
Obama administration intervenes to give $71.5 billion to overpaid, for-profit Medicare Advantage plans
SNIP
Enrollment in MA plans, currently at 13.1 million beneficiaries, was expected to dip sharply over the next few years in the wake of a reduction in government overpayments to the plans under the Affordable Care Act (ACA), but the researchers said enrollment may not decrease, due to this windfall and last year’s “quality bonus” payments: hence the variation in the estimated cost.
“Medicare Advantage plans have been overpaid by the federal government for years, wasting tens of billions of taxpayer dollars,” said Dr. David Himmelstein, professor at the City University of New York School of Public Health and co-founder of the physicians group. “Studies by the Government Accountability Office, MedPAC and many private groups have drawn attention to this overpayment. The Obama administration’s ACA acknowledged the overpayments by calling for cuts to these payments starting in 2014.
“But last week’s extraordinary rate-setting directive from Health and Human Services Secretary Kathleen Sebelius to the Centers for Medicare and Medicaid Services, in which she spurned historical practice and the advice of the CMS Office of the Actuary, will result in an obscene windfall to the private, for-profit insurers,” he said. “Simultaneously, this backroom Medicare giveaway is a heavy blow to taxpayers and the traditional, public Medicare program.”
In response to the CMS announcement, which was leaked shortly before 4 p.m. last Monday, stock prices for the nation’s five largest for-profit health insurers surged last week, yielding a $13.2 billion bonanza for investors. Stock prices increased from open of trading Monday, April 1, to close of trading Friday, April 5, by the following amounts: Cigna, $15.93; Humana, $8.93; UnitedHealth Group, $4.94; Aetna, $4.62; and WellPoint, $1.70. Aetna’s Coventry share prices jumped by $1.19. SNIP
Goes on to list others who had a big win in the market after this became public. Sheesh.
I was looking forward to the day I could get Medicare. You?