Campaigners Beat ‘Greedy’ Insurance Giants Exploiting Medicare Advantage
As insurance companies’ stock fell 6-12% on Tuesday in response to the Biden administration’s Medicare Advantage announcement, one healthcare campaigner celebrated that the U.S. government didn’t cave to the “greedy” industry’s pressure.
“The private insurance industry is used to getting its way, but this year we out-organized them,” declared Aija Nemer-Aanerud, the People’s Action Health Care for All campaign director.
Medicare Advantage (MA) plans are an alternative to traditional coverage under the federal health insurance program for people with disabilities and those age 65 or older. They are administered by private insurance companies known for denying patients necessary care and overcharging the government, which costs taxpayers up to $140 billion extra each year.
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