Ritter Insurance Marketing, Craig Ritter

CMS Issues Proposed Rule on Minimum Medical Loss Ratio for Medicare Advantage

The Affordable Care Act mandated that Medicare advantage plans maintain an 85% loss ratio for claims and “activities that promote member health”.  CMS issued proposed rules on implementing this ACA requirement.  Here is a link to the press release from CMSHere is a link to the proposed rule. This rule…

28 Feb 13
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Sequester Cuts to Medicare Loom

Here is a story from MedPageToday.com. The sequester which is due to take effect on March 1st, includes a 2% cut in Medicare funding to providers.  This would result in approximately $11 billion less in provider payments for the balance of the fiscal year (ending Sept. 30th).  It is unclear right now exactly how…

27 Feb 13
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HHS Closes Enrollment for Pre-Existing Condition Insurance Plans

HHS has closed enrollment to it’s Pre-Existing Condition Insurance Plans.  This was a high risk pool for individuals who were denied coverage in the individual market.  Congress allocated $5 billion to fund this in the Affordable Care Act, however, HHS is closing enrollment 10 months early due to high claims experience.  This is in spite…

27 Feb 13
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Gov Christie Agrees to Accept ACA Medicaid Funds for New Jersey

Governor Chris Christie agreed to accept Federal money to expand Medicaid enrollment for the state of New Jersey, although he maintained that he’s not in favor of the Affordable Care Act.  Here is the story from the New York Times.  Christie becomes the 8th Republican governor to agree to accept the Federal funds…

27 Feb 13
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AHIP Releases Study on Impact of Medicare Advantage Cuts

Here is a link to the story from The Hill. The study finds the impact on every Medicare advantage member would be between $50 and $90 per month in increased premiums or reduced benefits.  Since CMS mandates that Medicare advantage plans can only increase costs to their members by $30/month, the difference would…

27 Feb 13
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Genworth Moves to Gender-based Pricing for Long Term Care Insurance

Here is the story from Kaiser Health News. Genworth will be raising the premiums for new policies sold for women this spring.  Experts expect that other companies will follow suit.  Jesse Slome expects that the premiums will be increased by 20% to 40% for females who purchase long term care coverage on their…

27 Feb 13
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House Panel Discusses Changes to Fee for Service Medicare

Here is a link to the story as reported by Kaiser Health News. The House Ways and Means Committee met yesterday to discuss changes to the traditional Medicare Fee for Service system.  One of the suggestions was putting an Out of Pocket maximum on traditional Medicare, similar to what is available in the…

27 Feb 13
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CMS Gives Advance Notice of 2014 Medicare Part D Cost Sharing and Deductibles

On Friday, February 15th, 2013, CMS released the 2014 Medicare Part D deductibles and co-insurance limits for 2014.  This was a part of their “2014 Advance Call Letter” which gives Medicare advantage plans and Medicare Part D plans advance notice of funding for calendar year 2014 so that they can start formulating their bids for…

25 Feb 13
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Bill to Transform BlueCross BlueShield of Michigan into a Non-Profit Mutual Passes Committee

By an 11-0 vote, the Bill which would allow BCBS of Michigan to become a “Non-Profit” Mutual company has passed committee and now goes to the Michigan Congress for a vote before going to Governor Rick Snyder’s desk for signature. Here is the story as reported by the Detroit Free Press.

24 Feb 13
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Governor Scott Decides to Embrace Medicaid Expansion for Florida

Here is the story as reported by Robert Pear of the New York Times.  Scott now joins 6 other Republican governors who have decided to accept the Federal Government’s subsidies to expand Medicaid in their states.  A massive expansion of Medicaid was a cornerstone the Affordable Care Act to cover more of the…

24 Feb 13
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