One healthcare stock analyst called the Biden administration's weakened reforms a 'sigh of relief' for the insurance industry.
In addition to delaying full implementation of its reforms, CMS—which has faced
from UnitedHealth and other major Medicare Advantage players in recent weeks—announced it would boost payment rates for Medicare Advantage plans by 3.3% in 2024—a larger-than-expected increase.STAT 's Bob Herman noted,"health insurance companies that participate in Medicare Advantage will retain billions of extra taxpayer dollars next year" thanks to the Biden administration's changes, which drew"The phased-in approach will continue to reward those insurers with the most abusive practices over the next two years,"Herman reported that following the CMS announcement,"investors raced to buy stocks of the largest Medicare Advantage insurers, including...
"It was 'a sigh of relief' for the industry, according to Jailendra Singh, a healthcare stock analyst at Truist Securities," Herman wrote."Chris Meekins, a health policy analyst at Raymond James, called the White House's move 'a clearing event for the space.'" ;“The Medicare Advantage rule that phased in coding changes was a"sigh of relief" for health insurers. Even CMS admitted the delay will benefit insurers' bottom lines. As @Michael_Chernew told me:"The sky is not falling, and in fact more needs to be done." https://t.co/KnNbyCwqZO;”
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