Medicare Advantage Plans Drive Insurance Companies’ Sky-High Profits and Have Long History of Fraud and Abuse
Washington DC — Over the past several weeks, the insurance industry has been running a massive advertising campaign to scare seniors into believing the Biden Administration is cutting Medicare. Republicans in Congress are echoing these claims to protect insurance company profits.
In reality, the Administration is proposing to increase spending on Medicare Advantage by approximately $4 billion while protecting the program from overpayments, fraud, and abuse by big insurance companies. These efforts will improve the quality of Medicare Advantage plans – particularly for underserved populations, strengthen program integrity, and save the Medicare Trust Fund over $15 billion. In response, Protect Our Care Leslie Dach issued the following statement:
“It is shameful that insurance companies — with the full support of Republicans in Congress — are running a multi-million dollar disinformation campaign to scare seniors in an effort to protect their sky-high profits. Only the greediest corporations could characterize a $4 billion increase as a ‘cut.’ Meanwhile, these same insurance companies have been accused of fraud and abuse in their management of Medicare Advantage for years. It’s no surprise that Republicans are echoing these falsehoods as part of their campaign to defund Medicare. While the Biden administration is strengthening Medicare, Republicans want to cut Medicare and threaten the health and well-being of millions of seniors.”
Read the full fact sheet here.