Government reverses plan to cut Medicare Advantage rate

Excerpt from: CNN Health (click for full article)

 

The federal government has reversed a proposed cut that could have left millions who get their health insurance through the Medicare Advantage plan paying more for coverage.

The Centers for Medicare and Medicaid Services (CMS) announced Monday the final Medicare Advantage rates for 2014.

CMS had initially proposed a 2.3% reduction in what the government pays the insurance companies that provide the plans -- a move that would have saved the government money but potentially would cost the public more.

However, CMS on Monday announced a 3.3% increase instead.