Medicare Advantage Cure Is Worse Than The Disease
During the 2008 election campaign, then Sen. Obama and other Democratic Presidential candidates bemoaned the excessive amount that Medicare was paying private Medicare Advantage plans. And President Obama has made cutbacks in these payments part of his “reserve fund” for healthcare reform. But the way the government proposes to reduce payments to Medicare Advantage plans may be counterproductive, according to a new study from George Washington University. The Office of Management and Budget has proposed a competitive bidding process in which the payments to MA plans would be based on the average of all bids submitted to the Centers for Medicare and Medicaid Services (CMS) in a particular area. The Congressional Budget Office has estimated that this approach would result…
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