Medicare Advantage premiums expected to rise 25% next year
Premiums that seniors pay for Medicare Advantage plans will increase an average of 25% next year, largely because insurers, in response to new federal requirements, are canceling many plans that carry no premiums. The average premium will increase to $39 a month for all Medicare private plans from about $32 this year, said Timothy Hill, deputy director for the Center for Drug and Health Plan Choice at the federal agency that manages Medicare. Insurance companies had signaled there would be an increase in premiums, citing the government's decision to cut payments to Medicare Advantage by 4.5%, the Wall Street Journal reports.
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