However, now they’ve finalized the Medicare Advantage rates for 2024, according to Bloomberg, and they would reportedly result in a 1.12 percent cut for plans, after stripping out the expected impact of how plans report patient illnesses. The rate wasn’t as much as the Biden administration had intended, after a lot of backlash on the issue about what had originally been proposed.

But they’re also going to phase in some of the changes that determine payments based on the severity of patients’ health problems, having them take effect over three years instead of immediately over one year. That’s why there’s going to be a smaller-than-anticipated drop in the first year. So, it’s a bit of smoke and mirrors here, yet they’re still going down the same problematic road.

Bloomberg notes, insurers “will now have to determine whether to maintain generous benefits that help attract customers, such as zero premiums” or fall back on “more costly plans.”

[So much for arguing that it’s Republicans who want to cut Medicare. — Ed]