Advertising Disclosure
  1. Home
  2. Community
  3. Miscellaneous
  4. 2020 Medicare Advantage Rates To Drop 23 Percent

2020 Medicare Advantage Rates To Drop 23 Percent

Ally6770
  |     |   4,310 posts since 2010

In 2020, the Medicare Advantage average monthly plan premium will drop to an estimated $23 – 14 percent lower than the $26.87 average in 2019 and the lowest average since 2007, the CMS reports. Since 2017, the average monthly plan premium has fallen by an estimated 27.9 percent.

https://www.benefitspro.com/2019/09/27/2020-medicare-advantage-rates-to-drop-23-percent/

  Post a comment
2


111
  |     |   672 posts since 2019
While this is good news, there is a caveat. A Medicare Advantage plan beneficiary recipient must also pay his Medicare Part B premium. According to a WSJ article from earlier this year - "Medicare’s trustees projected Monday that the standard monthly premium in 2020 for Medicare Part B, which covers doctor visits and other types of outpatient care, will increase by $8.80 a month to $144.30. A final figure is expected in the fall.
The increase comes after the Part B premium for most people rose modestly in 2019 to $135.50, from $134 in 2018."
Reply
4
Ally6770
  |     |   4,310 posts since 2010
True. I posted that article also. But it is cheaper than not having any insurance in the long run and our SS increase will cover the increase in Medicare.
Reply
3
Choice
  |     |   937 posts since 2020
Saw an item that may be of interest, ie seniors are claiming a refund of Advantage payments b/c Medicare providers are not providing the contracted monthly services! And they are receiving refunds! Question why the feds are still paying providers since members can’t use the services! And you all are chasing $ for credit card usage...a 100% refund for those over 65 may be a better bet!
Reply
4
111
  |     |   672 posts since 2019
Could you post the links to that article or articles? Thanks.
Reply
2
Choice
  |     |   937 posts since 2020
It was from an ABA membership Elder Bar List posting forwarded to me...you see the essence of the post...no names were there. The premise is straight forward...claim a refund for paying (under protest) for something not being delivered. No different than some states are ordering auto insurers to refund some premiums...owners are not driving and the insured risk is greatly reduced...also been in tv ads. And the feds continue to pay 100% to medical providers when the seniors cannot see their medical professional!  
How does one describe scam...continue to bill for that which is no longer provided! 
PS. All don’t forget to dust off power of attorneys (medical and financial), trust/wills, etc. now more important than ever!
Reply
5
111
  |     |   672 posts since 2019
Choice - I don't disagree with you in principal, BUT I see procedural problems ahead in actually getting the kind of refund you're discussing.

1) There's traditional Medicare, and there's Medicare Advantage. COVID has and continues to impact providers of each. For Advantage, one MIGHT be able to argue that certain services were unavailable for a certain period (in some states, this period may still be continuing). BUT - were any special accommodations made by the Advantage providers, such as what is now called “TeleHealth” appointments (basically, as I understand it, glorified video calls - Skype, Zoom, whatever)? Or, were any special accommodations made for in-home visits to acutely ill patients? If so, that might be the Advantage providers' “defense” against claims that their services were unavailable. (Yeah, I understand that some may consider that a little slimy, but I'm just playing devil's advocate here.)

2) For traditional Medicare, it might be even harder to get a refund. This is a different situation than Advantage because beneficiaries have a much wider choice of medical providers. Here, if challenged, Medicare might make the argument that, well, even though for a certain period of time services were unavailable for, say, 80% of providers in your area - but hey, the other 20% say they were still open “in some capacity”, and gee, you could have switched providers. Again, a little slimy, but... Plus, I think I did hear something about traditional Medicare authorizing the use of “TeleHealth” appointments.

3) Regarding your analogy concerning auto insurance - unlikely that would be a precedent. Auto insurance is regulated by the states, but Medicare by the Feds.
Reply
3
Choice
  |     |   937 posts since 2020
Fact: Individuals have received refunds for unprovided Advantage promises...they have been granted but only for those that pursued it! The arguments are simple...it’s called windfall profits for not delivering that which was promised

Car insurance rebates is also real on the basis stated

Fact: Medicare is paying to providers for services that are not being provided...telehealth is NOT the quid pro quo...it’s the spectrum of promised services are not fully provided...the feds are the ones that should be defunding part of this welfare payment.  Medicaid payments to nursing homes should be adjusted for unsafe homes!

It’s only your money!
Reply
3
blazer9
  |     |   228 posts since 2019
ABA Member = Ambulance Chasers
Reply
1
Choice
  |     |   937 posts since 2020
Never trust those chasing the elderly!
Reply
2


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.