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Medicare Advantage

Medicare Advantage - Millions of seniors who signed up for popular private health plans through Medicare are facing sharp premium increases this year, another sign that spiraling costs are a problem even for those with solid insurance.

A study released Friday by a major consulting company found that premiums for Medicare Advantage plans offering medical and prescription drug coverage jumped 14.2 percent on average in 2010, after an increase of 5.2 percent the previous year. Some 8.5 million elderly and disabled people are in the plans, which provide more comprehensive coverage than traditional Medicare, often at lower cost.

The higher Medicare Advantage premiums for 2010 follow a cut in government payments to the private plans last year. And the Democratic bills pending in Congress call for even more cuts, which are expected to force many seniors to drop out of what has been a rapidly growing alternative to traditional Medicare.

Republicans have seized on the Medicare Advantage cuts in their campaign to derail the health-care bills, and polls show seniors are more skeptical of the legislation than the public as a whole.
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At a town hall meeting Friday outside Las Vegas, President Obama said the Medicare Advantage plans are getting a "sweet deal" from the government, overpayments averaging 13 percent. "All we've been saying is let's make sure that there's a competitive bidding process and that we are getting the absolute best bargain," Obama said.

Medicare Advantage
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