Insurance plans that participate in the Medicare Advantage program will get a 3.5% raise next year, the CMS said late Monday, a rate that outpaces previous estimates by market analysts and likely will infuriate lawmakers critical of the plans.
While the number of enrollees in Medicare Advantage has grown, so too has their satisfaction with the plans, according to a March survey by Americas Health Insurance Plans. The poll found that 90% of beneficiaries expressed satisfaction with their Medicare Advantage coverage, a 6 percentage point increase over the 84% who were satisfied in a similar 2003 survey.
But some federal lawmakers have targeted the 589 private plans that contract under Medicare. Healthcare analysts have shown that Medicare Advantage plans are paid on average 12% more per beneficiary than if that same individual had been enrolled under the traditional fee-for-service Medicare program. -- by Matthew DoBias