THIS IS AN ADVERTORIAL AND NOT AN ACTUAL NEWS ARTICLE, BLOG, OR
CONSUMER PROTECTION UPDATE ©2024 All Rights Reserved.
DISCLAIMERS:
**For Facebook Reviewers and 3rd Party Fact Checkers, these are our
references and sources explained:**
*Medicare Advantage plans are funded by the federal government
through a process called "capitation." Under this process, the
government pays a set amount of money to the insurance company
offering the Medicare Advantage plan for each enrollee in the plan.
The amount of funding that the insurance company receives is based
on a number of factors, including the health status and demographic
characteristics of the enrollees in the plan, as well as the
location of the plan.
Healthy Options Allowance. The new Healthy Options Allowance offers
members with D-SNPs, and other qualifying members with chronic
health conditions on some Medicare Advantage plans, the flexibility
to spend their funds – up to $3,300 a year depending on the plan –
where they need it most – whether that’s for groceries, rent and
utilities, over-the-counter products, home supplies, non-medical
transport, pest control, pet care supplies, disaster relief kits,
and more through spending cards that get funded on a monthly basis.
The funding that insurance companies receive for Medicare Advantage
plans comes from the Medicare trust fund, which is funded by payroll
taxes, premiums paid by beneficiaries, and general revenues. The
amount of funding that a Medicare Advantage plan receives from the
government is adjusted annually based on a risk adjustment process,
which is intended to account for differences in the health status of
the plan's enrollees.
In addition to the capitation payments, some Medicare Advantage
plans may also receive additional funding from the government in the
form of quality bonuses or other incentives. These bonuses are
intended to reward plans that provide high-quality care and achieve
certain performance metrics, such as improving patient outcomes or
reducing healthcare costs.
