Cigna Explores Selling Medicare Advantage Business, Biden Administration Proposes Changes to Billing Process, Medicare Reforms in 2023, Increased Costs for Beneficiaries, Aetna Overpaid for Medicare Advantage

Cigna is considering selling its Medicare Advantage business as the U.S. government tightens reimbursement for health insurers. The Biden administration is proposing changes to the surprise medical billing resolution process to make it more efficient and improve early communication between insurers and providers. Medicare reforms in 2023 and beyond aim to improve accessibility and affordability for beneficiaries. Medicare beneficiaries will face increased premiums and other costs in 2024. Aetna received an estimated $25.5 million in Medicare Advantage overpayments for 2015 and 2016.