BUSINESS
03/07/2009 05:12 am ET Updated May 25, 2011

Medicare "Rip Off" Strikes Elderly As Obama Tries To Reform Healthcare

Feb. 4 (Bloomberg) -- Just as President Barack Obama starts his overhaul of the U.S. medical system, providers of U.S.- backed health plans for the elderly are jacking up prices.

Humana Inc., Health Net Inc. and other providers increased 2009 premiums by 13 percent on average, or more than five times as much as last year, for people who use the Advantage version of Medicare, according to Avalere Health, a consulting company in Washington.

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