2022 Medicare Advantage Sign Ups Jump 9% On Last Year
Reports say that there's been an 8.8% rise in Medicare Advantage enrollments, as of Jan. 1, over the same period last year. But while most beneficiaries in Parts A and B are expected to join Advantage plans by next year, the spending may still outpace traditional paid health costs.
Axios:
Medicare Advantage Enrollment Soars Almost 9%
More than 28.5 million seniors and people with disabilities were enrolled in a private Medicare Advantage plan as of Jan. 1, an 8.8% increase from the same time in 2021, according to new federal data analyzed by Axios. Enrollment in the controversial MA program continues to grow, and based on prior full-year trends, enrollment in 2022 likely will surpass the federal government's prediction of 29.5 million people. (Herman, 1/18)
Fierce Healthcare:
MedPAC: Majority Of Medicare Beneficiaries To Be On MA By 2023, But Coding Issues Remain Rampant
Most Medicare beneficiaries in Parts A and B are expected to be enrolled in Medicare Advantage plans by next year, but spending on the plans is going to continue to outpace traditional fee-for-service, a congressional advisory panel found. The Medicare Payment Advisory Commission (MedPAC), a panel that makes recommendations to Congress on Medicare policy, released new findings Friday on the program, which has surged in popularity in recent years. It also continues to raise alarms over practices plans have done such as upcoding that have increased Medicare spending. (King, 1/14)
CNBC:
Medicare Needs Your Attention At Age 65 Even If You're Still Working
It’s not just retirees who need to think about Medicare. Anyone who plans to keep working when they reach the eligibility age of 65 should evaluate how — or if — Medicare will fit into their health-care coverage. ... One of those exceptions is having qualifying insurance through your employer. Yet not all workplace coverage counts. And getting it wrong could cost you down the road. (O'Brien, 1/15)
The Motley Fool:
Already Hate Your Medicare Plan? Here's What To Do
It's a new year, and for some seniors, that could mean a new Medicare plan. If you made changes to your coverage during this past fall's open-enrollment period, you might be looking at a whole new set of health benefits for 2022. But Medicare changes don't always work out. It could be the case that you decided to swap your old coverage for a new plan, only to realize early on in the year that it's just not working out. (Backman, 1/17)
In other health care industry news —
Axios:
Transplants Rebound From COVID Lull
More than 41,000 Americans underwent an organ transplant in 2021, a new record and a 6% increase from 2020, when the pandemic caused a slight slowdown of the life-saving procedures. There are more transplant patients than ever, and they are particularly vulnerable to the worst effects of COVID because of their compromised immune systems — although vaccines provide important protection. (Herman, 1/18)
Modern Healthcare:
Johns Hopkins Study Names Health Systems That Provide The Most 'Unnecessary' Care
About 11% of the nation's health systems are big-time over-utilizers of low-value services, according to a Johns Hopkins University study published in JAMA on Friday. Health systems that employ fewer primary care physicians, have higher bed counts or are investor-owned are associated with more unneeded care, researchers at Johns Hopkins' medical and public health schools found. Unnecessary procedures, tests and screenings are linked to lower quality of care and worse patient and worker safety, and drive up healthcare costs. Among the top over-users were St. Dominic Health Services of Jackson, Mississippi, Irving, Texas-based USMD Health System, Community Medical Centers of Clovis, California, and Providence, Rhode Island-based Care New England Health System, according to the study. (Gillespie, 1/14)
The Wall Street Journal:
Unilever Sets Out Ambition To Expand In Health Products
Unilever said it wants to push further into health, beauty and hygiene products at the expense of slower-growing food brands, laying out its biggest strategic shift in years after disclosing a $68 billion approach for GlaxoSmithKline's consumer-health business. The maker of Dove soap and Ben & Jerry’s ice cream said Monday that buying GSK Consumer Healthcare, which sells everything from Aquafresh toothpaste to Advil painkillers, would be accompanied by significant divestitures as it looks to rejigger its portfolio toward higher-growth categories. (Chaudhuri, 1/17)
And the 'Pharma Bro' is banned from the pharmaceutical industry —
CNBC:
Martin Shkreli Banned From Drug Industry In Pharmaceutical Monopoly Case
A federal judge on Friday ordered notorious “Pharma Bro” Martin Shkreli banned for life from the pharmaceutical industry and also ruled that he must disgorge $64.6 million in profits he earned from hiking the price of the life-saving drug Daraprim by more than 5,000% overnight. The ruling in U.S. District Court in Manhattan came in response to a lawsuit alleging illegal and monopolistic behavior connected with Daraprim by Shkreli, who is currently incarcerated for a securities fraud conviction. (Mangan, 1/14)
