News Briefs: Growing Share of Large Firms Choose Medicare Advantage for Retiree Health Benefits
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Dec 02, 2022
Among the large companies that offer health benefits to Medicare-age retirees, 50% provided those benefits through a contract with a Medicare Advantage plan in 2022, according to a new Kaiser Family Foundation analysis. That’s almost double the share of firms — 26% — that did so in 2017. The analysis also noted that about 44% of large employers offering MA coverage to their retirees give them no choice but to receive their benefits through such a plan, and the most common reason the employers elected to contract with an MA plan was cost. Such decisions have not always been well-received: Retired New York City workers are currently locked in a legal battle with Democratic Mayor Eric Adams’ administration over the city’s move to enroll nearly 250,000 retirees into an MA plan managed by Anthem, Inc. in partnership with EmblemHealth. Read more
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