About 21.4 million people are enrolled in Medicare Advantage plans, while 37.7 million rely on standard Medicare. (Image: Shutterstock)
The U.S. agency that oversees Medicare said it wil increase payments to privately run health plans for the elderly by an average of 3.4 percent next year, almost double the amount it had previously estimated.
That'll be a boon for insurers such as UnitedHealth Group Inc. and Humana Inc. that have big businesses selling the private plans, known as Medicare Advantage. Including changes based on how sick or healthy people are, the total increase in payments to insurers is estimated to be about 6.5 percent, on average, the Centers for Medicare and Medicaid Services said in a statement Monday.
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