“Medicare open enrollment is coming early this year, and as people with Medicare make their health and prescription drug coverage choices, they will see that we've strengthened consumer protections and improved plan choices,” Dr. Donald Berwick, CMS administrator, said in the news release. “Due to the Affordable Care Act, Medicare Advantage and prescription drug benefits are stronger than ever.”
The insurance industry said the $200 billion in cuts to the Medicare Advantage program will put Medicare beneficiaries' coverage at risk when they go into effect.
“Medicare Advantage plans remain committed to the program and are doing everything they can to preserve benefits and keep coverage as affordable and possible for beneficiaries. However, as these cuts take effect in the coming years, Medicare Advantage beneficiaries will face higher out-of-pocket costs, reduced benefits, and fewer healthcare choices,” an America's Health Insurance Plans spokesperson said in a written statement.
The open enrollment period is Oct. 15-Dec. 7.