U.S. to boost Medicare Advantage payment rate

(Reuters) – The U.S. government said on Monday it will increase the payment rate for health insurers that offer coverage through the Medicare Advantage program by 3.3 percent in 2014, boosting shares of Humana Inc by 8 percent after hours. Medicare Advantage plans provide care for seniors who select to receive their Medicare benefits through private insurance plans. On February 15, the government proposed a Medicare Advantage payment reduction of 2.3 percent. …