UNH - Sen. Elizabeth Warren urges CMS to finalize rule on Medicare Advantage payments
2023-03-28 18:30:40 ET
Sen. Elizabeth Warren (D-Mass.) is calling on the heads of HHS and CMS to implement a final rule that aims to curb overpayments made to Medicare Advantage insurers.
The changes, which deal with capitation rates and risk adjustment models, are intended to modernize the way insurers are paid for the actual services they provide members.
Citing a report from the Medicare Payment Advisory Commission that was released in January, Warren said that overpayments have cost the federal government $124B since 2007, and will cost another $23B in 2023 alone.
Warren added that those in traditional Medicare pay higher premiums "because of the tricks that Medicare Advantage plans use to squeeze billions of extra dollars out of the Medicare program."
The senator sent her letter to HHS Secretary Xavier Becerra and CMS Administrator Chiquita Brooks-LaSure.
Top Medicare Advantage players: Humana ( HUM ), Centene ( CNC ), UnitedHealthcare ( NYSE: UNH ), CVS Health ( NYSE: CVS ), Molina ( MOH ), Elevance Health ( NYSE: ELV ), and Cigna ( NYSE: CI ).
Just a few days ago, Warren sent a letter to major MA insurers lambasting them for putting profits over car e.
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Sen. Elizabeth Warren urges CMS to finalize rule on Medicare Advantage payments