A recent report by Oliver Wyman puts the cuts that CMS (Center for Medicare Services) has proposed for Medicare Advantage plans for 2015 into perspective. Check out the chart below for what these cuts would mean in dollars and cents. Benefit cuts could mean higher deductibles, copays and coinsurance as well as restricted Doctor/Hospital choice and fewer plan choices due to plans dropping out of the program.
If you have a Medicare Supplement plan, consider yourself fortunate (Supplement plans are not affected by these cuts). If you have a Medicare Advantage plan, prepare for changes in 2015. If you don’t know what type of plan you have, we can help. Just give us a call at (937) 492-8800.
