Medicare Advantage Cuts Increase Out-of-Pocket Costs $33/Month
As most of you know, there have been some vitriolic fireworks in Reunion 50 planning discussions. Many of us have been out of touch with each other for nearly 50 years. Class President Scott Goold dedicated his days at our honored HHS fighing on the basketball court, and battling for classmates.
Scott continued political advocacy throughout his career. Scott is a political independent, not a fan of Don or Joe, and battled government and corporate bullies. His work has always been dedicated to fighting for the American middle class family. Feeling bullied by former classmates, Scott stood up to them. Our nation is divided; classmates unfortunately are as well.
Time now to put past battles behind us. Election 2024 is upon us. The first debate between Don and Joe left Americans more confused and frustrated. We have a long, exhausting road to November.
While media and pundits focus on two elderly men at the top of political tickets, smart citizens focus on issues specific to their families and pocketbook. We are 65+ ... many of us now have enrolled in Medicare.
Medicare Advantage (MA) plans are used by over 33 million seniors. MA plans are overwhelmingly supported by those enrolled — a 2021 analysis finding 90% of enrollees reporting they are satisfied with the plan. Due to Biden administration policy changes, MA plans are projected to increase in out-of-pocket costs by $33 per month beginning January 1, 2025.
The standard 2024 monthly premium for Medicare Part B is $174.70, which was an increase of $9.80 from 2023 premium of $164.90 — 5.9% increase. If Biden's proposed increase to MA plans goes into effect, seniors will suffer an additional 18.9% increase in monthly Medicare costs for 2025 — or $396 for the year.
Critics of the cuts said they would be especially devastating to seniors living on fixed incomes who are already coping with ongoing inflation issues. Can't disagree with their position. Inflation hurts seniors most. Cuts faced strong condemnation from Republicans and conservatives, who sounded off in April that seniors on fixed incomes would suffer further financial strains.
The Biden administration disagrees, "This is cherry picking numbers. Under the rate announcement, payments to Medicare Advantage plans are expected to increase by 3.7% next year, equivalent to over $16 billion. A $16 billion increase is not a cut."
SEE ALSO: Humana, Other Insurers Tumble as 2025 Medicare Advantage Rate Increases Disappoint
"Leave it to deep-pocketed insurance companies and industry front groups to characterize this year’s increase in Medicare Advantage payments as a cut. Disinformation being pushed out by high-paid industry hacks and their allies hurt Medicare beneficiaries and the Medicare Trust Fund."
Medicare Advantage (MA) plans, specifically, are private health insurance plans that contract with Medicare, and are used by more than 33 million Americans. The program mostly enrolls adults over the age of 65, but also offers benefits to people of all ages with disabilities. Traditional Medicare, conversely, is a federal health insurance program for adults over the age of 65, as well as younger individuals with disabilities.
Some partisan policy analysts claim the cuts will occur because the left-wing faction of Congress continues promoting "Medicare-for-all" legislation, which would establish a universal single-payer national health insurance system.
"Far left ideologues like Elizabeth Warren hate Medicare Advantage’s success as a public-private partnership because it undermines their argument for government-run health care, aka ‘Medicare-for-all.’ Biden has let these far left ideologues in his administration actively sabotage MA so they can prop up a government-run model and achieve their socialist agenda." [Republican New York congresswoman and Consumer Product Safety Commission Chairwoman Ann Marie Buerkle]
"Biden and his allies want to cut MA in favor of more government-run, fee-for-service 'Medicare-for-all' – which would mean fewer options for physicians and coverage, like vision and hearing. Recently, progressive ringleader Rep. Pramila Jayapal, D-Wash., and a coalition of 59 far-left House Democrats sent a letter to Biden arguing for 'strengthening Traditional Medicare' and redirecting funds 'incorrectly going to MA.'" [Heritage Action executive vice president Ryan Walker]
What Can YOU Do?
Speak to your local and state represenatives; write a letter, send an email, text or fax; make a phone call. Seniors vote! And we are Boomer Seniors. We have changed the world our entire lives.
Join AARP — American Association of Retired Persons — AARP's mission is dedicated to enhancing the quality of life for all Americans as we age, not just serving their nearly 38 million members. At its heart, the work that AARP and its affiliates do can be summed up in just 12 words:
“We fight for and equip each individual to live their best life.” It's all about real possibilities.
Does Joe or Don Represent Our Interests?
Sometimes a bit of humor helps to make the pain go away. Sadly, there is more truth in jest than jest in truth. Americans would be better served if our classmate, Kevin England, current mayor of Chubbuck, would run for president. Class of 1975 had the best leaders.
The Fossile vs. The Felon
China and Russia Laugh at our division and political incompetence
