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[Snip] UnitedHealth Group’s shares plunged over 10% in premarket trading on Tuesday after the sudden announcement of CEO Andrew Witty’s departure and the suspension of its 2025 financial forecast. The company cited “personal reasons” for Witty’s exit but offered no further details. Stephen Hemsley, UnitedHealth’s longtime leader who previously served as CEO for over a decade, is returning to helm the company during this turbulent period. [Snip] The market response was swift. UnitedHealth’s stock ($UNH) has now dropped nearly 45% in the past month, wiping out around $300 billion in market value. On April 17, shares fell 22% — its...

During the continuing resolution fight, the drum the Democrats kept beating was that Republicans wanted to gut Medicare - despite the fact that Joe Biden's administration oversaw years of cuts to Medicare Advantage, the plan increasingly chosen by the nation's seniors. Dems won't characterize cuts to Medicare Advantage as Medicare cuts, though, because what they're really trying to do is eliminate Medicare Advantage as a way to push "Medicare for All." Now that we're headed into the reconciliation process, where finding ways to keep Medicare solvent will be a top issue, at least one lefty is on record admitting that...

Democrats on a Senate subcommittee are accusing UnitedHealthcare Group of denying claims to a growing number of patients as it tried to leverage artificial intelligence to automate the process. In an October report, "How Medicare Advantage Insurers Have Denied Patients Access to Post-Acute Care," Democrats on the U.S. Senate Permanent Subcommittee on Investigations (PSI) released a report claiming UnitedHealthcare’s prior authorization denial rate for post-acute care jumped from 10.9% in 2020 to 22.7% in 2022. Denial rates for skilled nursing centers, in particular, "experienced particularly dramatic growth." The number of denied claims in 2022 was nine times higher compared to...

I've finally come to FR for help understanding this total conundrum. I'll admit, I am completely baffled. This is in regard to these "senior spending cards", or "Medicare allowance cards"."Prepaid food allowance cards". You cannot go 5 minutes on the net (and 2 minutes on my phone) without seeing an ad for one or more variations of these cards. Supposedly, they are prepaid cards which allow you to buy retail stuff. Groceries, OTC meds, consumables, etc; "All seniors over the age of XX are eligible" [this is 100% false] "It pains me to know that many seniors are missing out...

The Social Security Administration (SSA) has officially announced the payment dates for the upcoming cost of living adjustment (COLA) increase in benefits. Beneficiaries will soon learn the exact percentage of the COLA, which the Senior Citizens League (TSCL) predicts will be between 2.73% and 3.2%. The Bureau of Labor Statistics analyzes inflation data annually to determine the necessary increase to ensure Americans can maintain their purchasing power... Analysts anticipate a decrease in the COLA for Social Security benefits in 2025 compared to previous years due to easing inflation. The SSA will announce the 2025 increase on October 10, with the...

Seniors are expected to face $33 in out-of-pocket expenses each month after Medicare Advantage cuts. "Joe Biden has cut Medicare Advantage for the last two years. Did you know that? He’s cut your Medicare Advantage, which is a total betrayal of seniors. And just check, you’ll see it. He has cut you down for two years straight."

Joe Biden's re-election campaign is repeating the naked lie, over and over again, that President Trump wants to cut elderly people's Social Security and Medicare. Some of those elderly voters believe him, as recent polling has shown. But he's already played Mr. Slasher on Medicare Advantage, the immensely popular supplemental health insurance program favored by more than half of seniors, and he plans to cut it more. Democrats hate this program because it allows its buyers choice in what kind of coverage they would like to have on their policies. According to an important op-ed on RedState from the Heartland...

Shares of U.S. health insurers fell after the Biden administration didn't boost payments for private Medicare plans as much as the insurance industry and investors had hoped...The Centers for Medicare and Medicaid Services late Monday said that government payments to Medicare Advantage plans are expected to rise 3.7% year over year...That is effectively a 0.16% decline after stripping out certain assumptions baked into that rate, according to insurers and analysts.

(Reuters) -Insurer Health Care Service Corp said on Wednesday it would buy Cigna's Medicare business that manages government-backed health insurance for people aged 65 and older for $3.3 billion in cash. The sale consists of Cigna's Medicare lines, including Medicare Advantage, Medicare supplement and Medicare drug plans, as well as a unit called CareAllies that works with physician groups and other healthcare providers.

Medicare Advantage provides health coverage to more than half of the nation's seniors, but a growing number of hospitals and health systems nationwide are pushing back and dropping some or all contracts with the private plans altogether. Among the most commonly cited reasons are excessive prior authorization denial rates and slow payments from insurers. Some systems have noted that most MA carriers have faced allegations of billing fraud from the federal government and are being probed by lawmakers over their high denial rates. "It's become a game of delay, deny and not pay,'' Chris Van Gorder, president and CEO of...

President Joe Biden and his supporters in Congress are positioning themselves as the protectors of entitlement programs, especially Social Security and Medicare. "So tonight, let’s all agree to stand up for seniors," he said in the State of the Union address. "Stand up and show them we will not cut Social Security. We will not cut Medicare." Notwithstanding the fact that the Biden administration is spending us into the poor house — making long-term entitlement appropriations impossible — but Biden is indeed planning a Medicare cut. And in the worst possible area of the program: Medicare Advantage.

An analysis found that cancer patients with privatized, cost-saving Medicare Advantage were more likely than those with traditional Medicare to go to hospitals with physicians less experienced at performing complicated surgeries, and that they were more likely to die within the first 30 days after the removal of their stomach, pancreas or liver. With traditional Medicare, beneficiaries typically may go to any doctor or hospital in the U.S. that takes Medicare, whereas in most cases, Medicare Advantage beneficiaries can see only doctors and providers who are in the plan's network and service area. They found that cancer patients who had...

Medicare Part A and Part B, also known as Original Medicare or Traditional Medicare, cover a large portion of your medical expenses after you turn age 65. Part A (hospital insurance) helps pay for inpatient hospital stays, stays in skilled nursing facilities, surgery, hospice care and even some home health care. Part B (medical insurance) helps pay for doctors' visits, outpatient care, some preventive services, and some medical equipment and supplies. Most folks can start signing up for Medicare three months before the month they turn 65. It's important to understand that Medicare Part A and Part B leave some...

Coverage for eligible, necessary care is denied each year to tens of thousands of seniors with private Medicare Advantage plans, U.S. federal investigators say. In a report released Thursday, the team from the inspector general's office of the U.S. Department of Health and Human Services said Medicare needs to improve oversight of these plans and strengthen enforcement against those private insurance companies with a pattern of improper denials of coverage. About 28 million older people have Medicare Advantage plans, which offer privatized versions of Medicare that are often cheaper and provide a greater range of benefits than the traditional government...

It's no surprise that someone who went out of his way to avoid paying hundreds of thousands of dollars in Medicare taxes would agree to jeopardize the Medicare coverage of 27 million beneficiaries.Twelve months after Joe Biden claimed at the final presidential debate that “not one single person, private insurance, would lose their insurance under my [health] plan,” Democrats stand on the precipice of turning Biden’s statement into a reprise of Barack Obama’s “If you like your plan, you can keep it” Lie of The Year. The effort could cost millions of seniors their private Medicare plans, as Democrats raid...

Hi FRiends, Happy Thanksgiving I hope you are having good weather and a relaxing time. I have a Question on Medicare Plans. My Wife and I are thinking about Advantage Plans to replace Traditional Medicare. We are 81/83 now and active. We currently have Traditional Medicare with a Gap Policy. The latest offerings from United Healthcare Advantage Plans seem to have taken care of out-of-network services with their Passport which create instantaneous in-network charges in most States that we visit. Emergency care is Covered in any State. Our current Doctors accept this Advantage Plan. Our Saving would be about $5000./year...

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...

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 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...

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...