Feb 27 2014
Following the Obama administration’s announcement last week that it would implement additional ObamaCare cuts to Medicare Advantage (MA), a new Oliver Wyman study released today finds those cuts will mean:
- Higher costs for seniors: Thanks in large part to ObamaCare, payments to MA plans will be reduced by nearly 6 percent in 2015, which for many seniors could result in either premium increases or benefit reductions of up to $145 per month over the next two years.
- Dropped coverage for seniors: These reductions are expected to cause disruptions for a substantial number of the more than 15 million MA beneficiaries nationwide, including the possibility of losing access to current plans.
- Low-income seniors hit hardest: Low-income seniors – like the more than 40 percent of MA enrollees who live on less than $20,000 per year – will be disproportionately affected.
After his comments yesterday that “all” ObamaCare horror stories are “untrue,” Senator Reid owes an apology to the millions of seniors who will be harmed by the Democrats’ ObamaCare Medicare Advantage cuts.