Fierce Healthcare March 21, 2023
The insurance industry has claimed that a potential cut to Medicare Advantage (MA) payments in 2024 could lead them to trim benefits or hike premiums for seniors next year.
But some experts say the impact of the rate changes could have a negligible effect on beneficiaries, as plans could absorb any hit to stay competitive in the MA marketplace. Others say that MA plans have faced such reductions before and have chosen to take the financial hit rather than cut back on benefits.
“This market is not perfectly competitive but it is competitive,” said Richard Kronick, Ph.D., a professor at the University of California, San Diego who spoke about MA during a webinar Tuesday held by the...