Corporate health insurers have been conducting a stealth privatization of our Medicare system, under the guise of for-profit plans marketed as “Medicare Advantage.”

Medicare Advantage is a program that gives private insurance corporations the ability to cover people who choose their health plans―but in the 25 years that it has existed, it’s clear that Medicare Advantage is riddled with the same problems as the rest of private insurance: Opaque bureaucracy and extraordinary fees.

These private plans spend 15-25 percent less than traditional Medicare on their enrollees' medical services and are paid 23% more. This is a classic case of greedy corporations stealing from taxpayers and people with Medicare.

Now, the Centers for Medicare and Medicaid Services (CMS) has announced that it plans to increase payments to Medicare Advantage plans by 3.7% in 2025!

Fortunately, we have a chance to make our voices heard before this rate increase goes into effect. CMS is holding an official comment period, ending March 1. Our coalition is collecting comments, and we’ll submit them before the deadline.

Here’s the truth: The government has overpaid Medicare Advantage plans over the past decade, and it's projected to overpay as much as an additional $1.56 trillion between now and 2033. They should be paying us back, not the other way around.