As simplistic to understand and bumper-sticker friendly as Single Payer may be, the fact remains we already have a successful, efficient, fully-functioning blend of public and private health care delivery and payment: The Medicare/Medicare Supplement/Medicare Advantage program.
But because it doesn't fit into a three-second sound bite, very few people actually understand how it works.
More than three seconds? Naw, I don't wanna know. America, 2015.
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Which by the WAY Obama HATES Medicare Advantage plans because oh...dastardly capitalists MAKE A PROFIT!!!
Yup.. here is proof!
The new cuts come in the form of a planned reduction in the reimbursement rates the government pays to insurance companies that operate Medicare Advantage plans, which are services administered by private for-profit or non-profit providers that offer additional services than can be found in traditional Medicare.
In a Feb. 15 regulatory filing, the Centers for Medicare and Medicaid Services (CMS)
announced the surprised rate cuts of 2.3 percent – meaning it would pay health care providers 2.3 percent less for providing services to patients.
CMS said it was cutting payments because it foresaw the overall costs of the Medicare Advantage program shrinking by 3.2 percent, despite the fact that health care costs – the driver of all federal health care program costs – are only rising.
Medicare Advantage is like traditional Medicare except that its plans are administered by insurance companies, who are paid a per-enrollee reimbursement fee by the government. If insurance companies can provide care to seniors at less than what the government pays them for it, they make a profit.
Medicare Advantage provides coverage for approximately 28 percent of all Medicare beneficiaries, offering them higher-quality services and additional benefits, such as vision and dental care, than the traditional government program at slightly higher cost.
The Obama administration already plans to cut the Medicare Advantage program by $200 billion as part of Obamacare. However, the proposed reductions it announced in February are new, and will cut the program in addition to the planned $200 billion in Obamacare cuts, most of which are delayed in 2014.
Obama Administration Plans to Cut Medicare Advantage Reimbursements
GUESS what???
ALL those evil profit making Advantage plans BY STATE laws MUST make a profit or they can't sell the advantage plans!
Of all the Medicare failures Advantage plans are the BEST operating, provides best management of Medicare beneficiaries!