Dr. Brian Biles Discusses the Status of Medicare Advantage (May 6, 2013)
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Listen Now Since the 1970s Medicare beneficiaries have had the option of receiving their Medicare benefits via private health insurance plans. Today 27% of Medicare beneficiaries, or 13.3 million seniors, are enrolled in these private plans. MA program growth in the past few years has been rapid, enrollment almost tripled between 2003 and 2012 and the program is estimated to add another 1.5 million beneficiaries this year. Medicare, which pays MA plans a capitated rate rather than on a FFS basis, reimbursed MA plans $136b. in 2012. The program has not been without controversy largely due to payments or over payments made to MA-participating plans. For example, just prior to the 2010 passage of the Affordable Care Act the CBO estimated equalizing payments between Medicare Advantage programs and the traditional fee for service Medicare program would generate $170 billion in savings over the ten year budget window. Despite ACA reforms to MA, MedPAC (the Medicare Payment Advisory Commission) estimated in 2013 overall payments to plans will equal $6 billion more for MA enrollees than would have been paid to cover the same enrollees in Medicare fee for service.
Dr. Brian Biles Discusses the Status of Medicare Advantage (May 6, 2013)
Dr. Brian Biles Discusses the Status of…
Dr. Brian Biles Discusses the Status of Medicare Advantage (May 6, 2013)
Listen Now Since the 1970s Medicare beneficiaries have had the option of receiving their Medicare benefits via private health insurance plans. Today 27% of Medicare beneficiaries, or 13.3 million seniors, are enrolled in these private plans. MA program growth in the past few years has been rapid, enrollment almost tripled between 2003 and 2012 and the program is estimated to add another 1.5 million beneficiaries this year. Medicare, which pays MA plans a capitated rate rather than on a FFS basis, reimbursed MA plans $136b. in 2012. The program has not been without controversy largely due to payments or over payments made to MA-participating plans. For example, just prior to the 2010 passage of the Affordable Care Act the CBO estimated equalizing payments between Medicare Advantage programs and the traditional fee for service Medicare program would generate $170 billion in savings over the ten year budget window. Despite ACA reforms to MA, MedPAC (the Medicare Payment Advisory Commission) estimated in 2013 overall payments to plans will equal $6 billion more for MA enrollees than would have been paid to cover the same enrollees in Medicare fee for service.