Title: UnitedHealth dropping some Medicare Advantage plans, impacting 600K
Article Snip: "...the decision to exit certain Medicare Advantage plans during a second-quarter earnings call Tuesday, noting it would primarily affect members in “less managed products such as PPO offerings.”
Medicare Advantage plans are private health insurance plans approved by Medicare that provide an alternative way for people to receive their Medicare benefits. In 2024, more than half (54%) of eligible Medicare beneficiaries, about 32.8 million people, were enrolled in Medicare Advantage plans, according to the Kaiser Family Foundation. ...Insurers have seen a rise in expensive emergency room visits, and UnitedHealth leaders said that doctors are billing for more tests and services during those visits than they anticipated.
Insurance companies are also dealing with growing prescription drug costs, especially from expensive treatments for cancer and obesity, as well as gene therapy, The Associated Press noted."
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