Courtney Statement on Medicare Advantage Premium Stability, Saving Seniors Money
WASHINGTON—Today, Congressman Joe Courtney released the following statement in response to an announcement from the Centers for Medicare and Medicaid Services (CMS) that enrollment in Medicare Advantage (MA) plans is on the rise, while premium rates have dropped nearly ten percent since 2010:
“Today’s numbers on enrollment and premium stability are great news for Connecticut seniors,” Courtney said. “Despite alarmist predictions to the contrary, in the four yearly rates that have been issued since the Affordable Care Act was signed into law, Medicare Advantage and Medicare Part D premiums have remained stable, insurers have increased offerings, and more seniors are enrolled than ever before. Additionally, quality ratings are on the rise, showing that seniors are getting a good value for their premium. This good news follows on the heels of the recent announcement from the Medicare Trustees that Part B premiums are expected to remain unchanged for 2014. These developments are further proof that the Affordable Care Act is a boon for Medicare and its current and future beneficiaries.”
· The average MA premium in 2014 is projected to increase by only $1.64 from last year, coming to $32.60.
· 99.1 percent of beneficiaries have access to a MA plan.
· Since passage of the Affordable Care Act, average MA premiums are down by 9.8 percent.
· Over half of MA enrollees are enrolled in plans with four or more stars, a significant increase from 37 percent of enrollees last year.
· More than 6.6 million people with Medicare have saved over $7 billion on prescription drugs as a result of the Affordable Care Act, an average of $1,061 per beneficiary.