There are too many stories to post here, but this is one of the most concise descriptions of the Obama budget and the impact on Insurance Companies which offer Medicare Advantage plans . . .From the Wall Street Journal Online.
Health Insurance stocks suffered double digit losses on Thursday, lead by Humana down almost 20%, HealthSpring down 23%, United Health down 13%, Coventry down 14%. Here is the story on that.
There are two pieces of news driving this: (1) last Friday CMS released a draft of 2010 reimbursements which were much lower than expected and (2) the Obama budget released on Thursday backed up the massive cuts to Medicare Advantage plans coming in out years.
This will result in less benefits for the 10.5 million Seniors who are currently in Medicare Advantage. The cuts must go through Congress, so there is some thought that there will be a backlash from these 10.5 million Seniors who are enjoying better benefits than they would otherwise have with Medicare.
Assuming the Government spends more on the affected Seniors in order to soften the blow, this would essentially mean that the projected savings in the Medicare Advantage program would be erased by additional spending.
Although this blog is available to express one’s opinion about many given subjects, I seriously doubt the creator of this website had in his/her intention that it would be used to spew such insanity concerning previous Presidents of this United States of America. How about we just stick to conversation that expresses views, opinions, and facts concerning insurance products, training, and changes that affect us and our customers? Thank you.
Agreed, let’s keep to the topics at hand. I come to this blog for insurance news and updates as related to agents and our products and not political agendas esp when they are not related to the insurance industry and agent concerns.
Curtis/Brenda Jo:
I agree, I think this was a spam comment and I deleted it.
Craig