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diva77

(7,844 posts)
Mon Jun 10, 2024, 10:15 PM Jun 10

A $600 Billion Swindle: Study Makes Case to 'Abolish' Medicare Advantage [View all]

https://www.commondreams.org/news/medicare-advantage-cost

"The time has come to declare MA a failed experiment," write the authors of a new paper.
Jake Johnson Jun 10, 2024

A new academic analysis published Monday in JAMA Internal Medicine details the enormous sums that privatized Medicare Advantage plans have cost U.S. taxpayers in recent years and calls for the abolition of the program, which has been massively profitable for the insurance giants that dominate it.

Citing the nonpartisan Medicare Payment Advisory Commission, the paper notes that Medicare Advantage (MA) plans have overcharged the federal government to the tune of $612 billion since 2007—and $82 billion last year alone.

MA plans—now used by more than half of the eligible Medicare population—utilize a range of tactics to reap larger payments from the federal government, which provides insurers a lump sum for each Medicare Advantage patient. The size of the payment depends on the enrollee's health, which MA plans are notorious for portraying as worse than it is in order to receive heftier government payments.

"Paradoxically, despite those overpayments, MA plans spend 9% less on medical services than [fee-for-service] Medicare spends for comparable enrollees," reads the new study. "If MA plans pay for less care, where do the overpayments go? Some pay for supplementary benefits, although plans do not disclose how much they spend on them, and MA enrollees do not get significantly more dental care or incur lower out-of-pocket dental costs than those in FFS Medicare. Instead, overhead and profit eats up the lion's share."

The study's authors estimate that MA plans' overhead from 2007 to 2024 was $592 billion, which is "equivalent to 97% of taxpayers' $612 billion overpayments to them during that period."

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Medicare Advantage, aka PRIVATE insurance needs to be GONE!!! We need our social safety net and Medicare Advantage yanks away that net.





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The authors of the analysis linked to in OP concluded the following: diva77 Jun 10 #1
Great name for it: "Good Deal" live love laugh Jun 11 #16
DURec leftstreet Jun 10 #2
I've been bombarded with MA ads through the mail Wednesdays Jun 10 #3
Same. But I'm also getting emails and phone calls, too. littlemissmartypants Jun 11 #8
it shocks me they are allowed to get away with this shit Skittles Jun 10 #4
There's a reason the insurance companies push Advantage plans so hard dflprincess Jun 11 #7
Medicare for all. Bluethroughu Jun 10 #5
I is called capitalism and it is a failure except for the capitalist Stargazer99 Jun 11 #6
The parasites run all those advertisements to suck in as much as they can before it's stopped. Hermit-The-Prog Jun 11 #9
K & R SunSeeker Jun 11 #10
Kick GoodRaisin Jun 11 #11
morning kik diva77 Jun 11 #12
I have a UHC MA plan and I'm completely happy with it. I pay nothing, zero, and they have paid for everything. elocs Jun 11 #13
Have you had a serious health issue that required expensive treatment? Did they gladly cover it, no questions asked? diva77 Jun 11 #14
I have. The first week in February of this year Trailrider1951 Jun 11 #15
I am retired and have dual care coverage. What Medicare MA doesn't pay, my state Medicaid does. elocs Jun 11 #18
Rather than abolishing it regulate it. LiberalFighter Jun 11 #17
There are several reasons to remain on regular medicare. I'm not touching those plans. lindysalsagal Jun 11 #19
Yes. Wendell Potter went after this some time ago. Passages Jun 11 #20
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