According to the report, the changes intend to prevent patients on Medicare Advantage plans, the privatized version of Medicare, from paying more than $3,400 annually in out-of-pocket charges. In addition, insurance companies could also face government scrutiny if they the charge more than traditional Medicare for dialysis, home healthcare or other services.
Insurers would not be allowed to charge sick or low-income patients more than traditional Medicare, according to the report.
According to administration officials, the new conditions must be met if insurance companies want to bid on Medicare insurance this year. In addition, the administration plans on eliminating 1,400 Medicare Advantage plans to make it easier to compare options, according to the report.
Read the Wall Street Journal’s report on the Obama administration’s changes to Medicare Advantage.
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