Medicare Advantage Plans Are About to Change

Medicare Advantage patients might be in for a rude awakening as CVS plans to get rid of 10 percent of its plans.CVS Health made the decision to cut the Aetna health insurance plans in an effort to prioritize profit margins, company leaders revealed this week.'The goal next year is margin over membership,' CFO Thomas Cowhey said. 'Could we lose up to 10% of our existing Medicare members? It's entirely possible.

Earlier this year, the Biden administration said it would be cutting next year's payments to Medicare Advantage plans by 0.16 percent, adding onto the financial pressure CVS and other insurers are feeling at the national level.Ryan said the decision to cut plans is logical as medical costs keep climbing and seniors seek out more care than years previous as more Baby Boomers retire.

Source: Healthcare Press (healthcarepress.net)

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