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Thread: Advantage plans cost more than regular Medicare
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Old 07-08-2022, 07:37 AM
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Originally Posted by retiredguy123 View Post
I don't know where to start. Have you considered the Federal salaries and benefits to process all of the Medicare Part B claims? And, have you considered that the Medicare Advantage plans are managed by private companies who have a profit a motive to reduce fraudulent claims? What incentive do Federal employees have to deny fraudulent claims? And, have you considered the fact that a patient, who has Medicare Part B and a Medicare supplement has no copay and, therefore, has no incentive to shop for the lowest cost option, and no incentive to reduce treatments or expensive medical supplies or devices. Medicare Advantage plans have all of these incentives to moderate the cost of medical care.

Medicare Is More Efficient Than Private Insurance

https://www.healthaffairs.org/do/10....110920.013390/

Medicare administrative costs are about 2% while private health insurance companies have 12% to 18% in administrative costs.


If we got rid of the private health insurers, we would save $500 billion a year just in administration costs.