Georgia business leaders and seniors today denounced the Centers for Medicare and Medicaid Services (CMS) proposal to cut $3 billion of Medicare Advantage funding in 2024. More than 30 million Americans — nearly half of those who are eligible for Medicare — have chosen Medicare Advantage for high-quality, affordable health care coverage, including one million people in Georgia. Additionally, 94% of senior voters with Medicare Advantage are satisfied with their coverage, compared to 87% who are satisfied with original Medicare.

Georgia Chamber of Commerce Chief Public Affairs Officer David Raynor said ensuring the viability of our healthcare system through improved access and affordability is one of the Georgia Chamber’s top legislative goals.

“Medicare Advantage is helping to achieve this goal through an innovative public-private partnership that provides increased benefits at reduced costs to nearly one million Georgia seniors and people with disabilities,” Raynor said.

Medicare Advantage is a public-private partnership where health insurance providers deliver comprehensive medical coverage to Americans older than 65 and individuals with disabilities, covering everything traditional Medicare covers and more. In addition to hospital and physician coverage included in traditional Medicare, Medicare Advantage caps out-of-pocket costs to ensure affordability. Many Medicare Advantage plans also offer additional benefits that traditional Medicare doesn’t cover, including integrated vision, hearing, and dental benefits, wellness programs, in-home caregiver support, innovative telehealth options, and comprehensive prescription drug coverage.

“The Chamber is concerned that the proposed cuts in the CY 2024 Advance Notice will reduce the positive impact of Medicare Advantage in our state and urge the Centers for Medicare and Medicaid Services to reconsider their position,” Raynor added.

“Medicare Advantage provides comprehensive health care coverage that keeps the enrollees healthy with peace of mind that one hospitalization will not wipe out a lifetime of savings. Cutting this coverage is bad public policy with no positive outcomes,” said Medicare Advantage enrollee, Mike Vaquer.

Medicare Advantage has strong bipartisan support in Congress. In fact, 61 Senators recently signed a letter supporting Medicare Advantage.