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Keyword: medicareadvantage

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  • UnitedHealth 1Q profit soars as ACA business shrinks

    04/18/2017 9:29:20 AM PDT · by Olog-hai · 7 replies
    Associated Press ^ | Apr 18, 2017 10:40 AM EDT | Tom Murphy
    UnitedHealth’s first-quarter profit soared 35 percent as the nation’s biggest health insurer slashed participation in Affordable Care Act exchanges but grew just about every other part of its business. The insurer also hiked its 2017 earnings forecast on Tuesday, and company shares started climbing shortly after it detailed results. Enrollment in Medicare Advantage plans and the state- and federally funded Medicaid coverage both swelled for UnitedHealth, which also continued to grow an Optum segment that sells several services outside the company’s core health insurance. Operating earnings from that insurance businesses climbed 15 percent to $2.1 billion, even though UnitedHealth’s individual...
  • Some seniors surprised to be automatically enrolled in Medicare Advantage plans

    07/30/2016 7:52:46 AM PDT · by BobL · 92 replies
    Chicago Tribune ^ | July 29, 2016 | Susan Jaffe
    Only days after Judy Hanttula came home from the hospital after surgery last November, her doctor's office called with bad news: Records showed that instead of traditional Medicare, she had a private Medicare Advantage plan, and her doctor and hospital were not in its network. Neither the plan nor Medicare now would cover her medical costs. She owed $16,622. -- snip -- Hanttula said she ignored all mail from insurers because she had chosen traditional Medicare. "I felt like I had insured myself properly with Medicare," she said. "So I quit paying attention to the mail."
  • Health insurance provider Colorado Access cutting Medicare coverage for coming year

    10/03/2015 7:29:00 AM PDT · by george76 · 5 replies
    NYC Today ^ | 10/02/2015 | Diane Hoffman
    Health insurance provider Colorado Access is going to cut Medicare coverage for the coming year. As a result of the move around 5,500 senior and disabled customers will have to look for alternatives. Chief operating officer of Colorado Access, Matt Case has said that the Denver-based nonprofit will also let go 83 employees who were a part of Colorado Access Medicare and its subsidiary Access Health Colorado. Besides this, extra 40 openings will remain unfilled. Case said that Colorado Access has also drawn down administrative expenses, cutting down the salaries of its executive teams. Case said, “While it's never easy...
  • A Costly Medicare Surprise Awaits Retirees

    06/24/2015 8:14:41 AM PDT · by mac_truck · 33 replies
    Kiplingers ^ | 6/17/2015 | Susan B. Garland
    Days spent in the hospital as an outpatient, rather than being officially admitted, can leave Medicare patients with bigger bills. It's bad enough spending three or more days in a hospital -- undergoing a barrage of medical tests and procedures. Brace yourself for even more pain at discharge if the hospital tells you that you were actually never admitted but were on Medicare "observation status." That designation could cost you big time. Hospitalized Medicare beneficiaries who are under observation are considered outpatients, even if they spend many days in the hospital. If you find yourself in this boat, there's a...
  • UnitedHealthcare to cut doctors for Mass. seniors

    06/08/2014 10:51:22 AM PDT · by Rusty0604 · 25 replies
    Boston Globe ^ | 06/07/2014 | Tracy Jan
    National insurance giant UnitedHealthcare plans to cut up to 700 Massachusetts doctors from its physician network for seniors enrolled in its private Medicare plan as a way to control costs, according to company officials. For elderly patients enrolled in the plan, the cuts mean they will have to find a new doctor or eventually switch to a new health plan that covers their current doctor. The move, effective Sept. 1, follows similar cuts made by the insurer to its Medicare Advantage provider networks in 11 other states... There is also pending legislation in Congress to prevent health plans from cutting...
  • Obama’s new healthcare dilemma

    04/06/2014 3:36:03 AM PDT · by SkyPilot · 33 replies
    the hill ^ | 6 Apr 14 | Jonathan Easley
    Democrats are battling the White House over proposed cuts to Medicare Advantage, creating a new divide on healthcare just as the party had begun to rally around ObamaCare’s 7.1 million enrollees. The issue threatens the newfound momentum Democrats have on healthcare after a late surge of ObamaCare enrollees surprised and electrified a party that had been beaten down after months of bad news associated with the healthcare law’s rollout. It’s particularly sensitive during an election year, as both parties court senior voters, who make up a disproportionate percentage of the voting population in midterm elections. The issue creates another...
  • Obamacare: California proving new health care law can work

    03/30/2014 9:24:25 AM PDT · by artichokegrower · 32 replies
    San Jose Mercury ^ | 03/28/2014 | Tracy Seipel
    It's almost become a cliché: If the new health care law makes it here, it can make it anywhere. As thousands of California procrastinators try to beat Monday's midnight deadline to apply for a health care plan, they'll be joining more than 1 million others in the Bellwether State who already have enrolled through California's health insurance exchange. And another 2 million have been determined eligible for Medi-Cal, the state's program for the poor.
  • Hospitals Plot the End of Insurance Companies

    03/27/2014 10:13:38 AM PDT · by Star Traveler · 100 replies
    The Fiscal Times ^ | Thursday, March 27, 2014 | Rob Garver
    The problems with the implementation of the Affordable Care Act may be masking another major change in the way health care is delivered to U.S. consumers, experts believe. At a conference in Washington on Thursday, health care and business professionals said that there’s an increasing trend in the industry toward cutting insurance companies out of the process entirely, as large, regional hospital systems move into the insurance business. Dr. Kenneth L. Davis, CEO and president of Mount Sinai Health System, the largest health care provider in the state of New York, said that starting next year, Mt. Sinai will begin...
  • Obama's Not-So-Secret War On Private Medicare Plans

    03/04/2014 5:44:54 AM PST · by afraidfortherepublic · 8 replies
    Investors' Business Daily ^ | 3-3-14 | John Merline
    To say that President Obama is not an enthusiastic backer of the two Medicare programs that offer seniors private insurance options would be something of an understatement. Over the years, Obama has repeatedly derided Medicare Advantage — the program that lets seniors enroll in subsidized, private insurance. He once called it "wasteful," and said it amounted to "giveaways that boost insurance company profits but don't make (seniors) any healthier." Obama has been equally harsh when it comes to Medicare Part D — the drug benefit President Bush signed into law that relies on privately run plans. In his 2006 book,...
  • Insurers: Medicare Advantage cuts cost seniors $900 per year

    03/02/2014 8:51:20 AM PST · by Libloather · 17 replies
    The Hill ^ | 2/27/14 | Elise Viebeck
    The health insurance industry fighting proposed cuts to Medicare Advantage payments argued they will raise seniors' out-of-pocket costs next year. America's Health Insurance Plans (AHIP), a trade group, blasted the reductions with a report Thursday finding that beneficiaries could pay as much as $900 more in 2015 if the cuts take effect. The report by consulting firm Oliver Wyman concluded that Medicare Advantage (MA) plans could see a 5.9 percent total cut to their payments next year as a result of changes proposed by federal health officials. The Centers for Medicare and Medicaid Services (CMS) floated a 2015 cut of...
  • U.S. Proposes Cuts to Rates in Medicare Payments

    02/24/2014 8:38:05 PM PST · by Seizethecarp · 25 replies
    New York Times ^ | February 21, 2014 | ROBERT PEAR
    The Obama administration on Friday proposed cuts in Medicare payment rates for managed-care plans serving more than one-fourth of all beneficiaries, and Republicans immediately pounced on the proposal, which appears likely to become a significant issue in this year’s midterm elections. The proposed reductions were larger than the administration had indicated in guidance given to the insurance industry in December. Jonathan Blum, a top Medicare official, cited the “historically low growth in Medicare per capita spending” as a reason for the proposal. But Republicans said beneficiaries would suffer as a result of the cuts, which they traced to the Affordable...
  • Medicare Advantage plans may face cuts

    02/22/2014 8:05:31 AM PST · by Olog-hai · 15 replies
    Associated Press ^ | Feb 22, 2014 3:52 AM EST | Ricardo Alonso-Zaldivar
    Cuts are on the table next year for Medicare Advantage plans, the Obama administration says. The politically dicey move affecting a private insurance alternative highly popular with seniors immediately touched off an election-year fight. The announcement gave new ammunition to Republican critics of President Barack Obama’s health care law, while disappointing some Democratic senators who had called on the administration to hold rates steady. Insurers are still hoping to whittle back the cuts or dodge them altogether. …
  • ACA: Wrong Direction for America's Seniors

    01/09/2014 12:48:35 PM PST · by Kaslin · 8 replies
    Townhall.com ^ | January 9, 2014 | Hector Barreto
    Words matter. “If you like your doctor, you will be able to keep your doctor, period. If you like your healthcare plan, you'll be able to keep your healthcare plan, period,” President Obama said during a speech to the American Medical Association in June 2009. Honoring your commitments is the cornerstone of trust in our leaders. The American people won’t accept illusions or misdirection’s. That’s why its troubling that because of the Affordable Care Act (ACA) or Obamacare, Medicare will be cut by $1.05 trillion, 6.3 million Americans have lost their healthcare coverage since its implementation and millions more stand...
  • Medicare Advantage patients helpless as their doctors get dumped

    12/02/2013 11:59:12 AM PST · by The Old Hoosier · 20 replies
    Conservative Intel ^ | 12/2/13 | David Freddoso
    Remember those Medicare cuts that the Democrats and the White House used to make Obamacare appear budget-neutral on paper? The ones that Republicans somewhat hypocritically railed against during the 2010 election cycle? Well, that didn’t make the cuts any less real. So add 14 million more people that Obama lied to — er, “misspoke” to — with his famous “you can keep it” promise...
  • Obama Breaks 'Keep Your Doctor' Promise With Seniors

    11/27/2013 4:40:07 AM PST · by IBD editorial writer · 15 replies
    Investor's Business Daily ^ | 11/26/2013 | John Merline
    Nearly four in 10 seniors worry ObamaCare will cause them to lose doctors they like, despite President Obama's repeated promise to the contrary, according to the latest IBD/TIPP Poll. That translates into nearly 16 million people age 65 and over. Their concerns appear to be justified. Many seniors are, in fact, already losing access to their doc tors, and more than half a million are losing access to plans they liked this year, as $200 billion in ObamaCare-mandated cuts to the popular Medicare Advantage program start to take effect. Earlier this month, seniors learned that UnitedHealth (UNH) is dropping thousands...
  • Thousands of Doctors Dropped by Insurer After Obamacare Funding Cuts

    11/16/2013 1:58:31 PM PST · by Olog-hai · 41 replies
    Newsmax ^ | Saturday, 16 Nov 2013 10:39 AM | (Newsmax Wires)
    UnitedHealth Group has dropped thousands of doctors from its networks in recent weeks, leaving many elderly patients unsure whether they need to switch plans to continue seeing their doctors, the Wall Street Journal reported Saturday. The insurer said in October that underfunding of Medicare Advantage plans for the elderly could not be fully offset by the company’s other healthcare business. The company also reported spending more healthcare premiums on medical claims in the third quarter, due mainly to government cuts to payments for Medicare Advantage services. …
  • 4 keys to scrutinizing Medicare Advantage cuts

    11/13/2013 2:51:02 PM PST · by artichokegrower · 2 replies
    Monterey Herald ^ | 11/13/2013 | Tom Murphy
    Ominous warnings about Medicare Advantage plans have sounded for more than a year now. Health insurers say federal funding cuts to these privately run versions of Medicare will force them to whack plan benefits, hike premiums or leave some geographic markets entirely as they continue to fight rising health care costs. The government is paring back the money it provides for this coverage as part of its effort to fund the health care overhaul, which aims to cover millions of uninsured people. Plan changes are starting to crystallize for Medicare Advantage customers who are about a month into the annual...
  • Blame game as insurers dump doctors (Another Obama lie. No you can't keep your doctor.)

    11/10/2013 5:30:35 PM PST · by tobyhill · 39 replies
    NY Post ^ | 11/9/2013 | By Carl Campanile
    Let the blame game begin over ObamaCare’s oversights. The nation’s largest health insurer, UnitedHealthcare, claims the Affordable Care Act is responsible for forcing it to boot doctors from its Medicare Advantage program that serves thousands of elderly patients in the New York metro region. CEO Jack Larsen, under fire for separating seniors from their MDs, took out full-page ads to explain that cuts in Medicare spending forced the ­insurer’s hand. “We are working to collaborate with a more focused network of physicians to help us provide higher quality and more affordable health care coverage to meet the needs of our...
  • Blame game as insurers dump doctors

    11/09/2013 7:35:06 PM PST · by Mike Darancette · 34 replies
    New York Post ^ | 11/9/2013 | Carl Campanile
    Let the blame game begin over ObamaCare’s oversights. The nation’s largest health insurer, UnitedHealthcare, claims the Affordable Care Act is responsible for forcing it to boot doctors from its Medicare Advantage program that serves thousands of elderly patients in the New York metro region. CEO Jack Larsen, under fire for separating seniors from their MDs, took out full-page ads to explain that cuts in Medicare spending forced the ­insurer’s hand.
  • Seniors lose insurance and doctors under Obamacare [Thank you, AARP /sarc]

    11/08/2013 6:43:37 PM PST · by markomalley · 48 replies
    The Daily Caller ^ | 11/8/2013 | Evan Gahr
    Retired chemist Edward Schokowitz was incredulous when he received a letter from Horizon Blue Cross Blue Shield of New Jersey early last month saying his Medicare Advantage Plan, which had no premium, would be eliminated next year.“They took all the senior citizens and threw us out of the plan. They now want to give us the same plan for $153 [per month],” he told the Daily Caller. “The President said you can’t be kicked out of your plan. He lies.”Schokowitz is one of many Medicare beneficiaries now learning that — like Americans who buy insurance on the individual market —...