"The move to privatize Medicare," said one expert, has "been very profitable, in part because insurers are good at making their patients seem sicker."
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Medicare Advantage was supposed to be a money-saver. It’s now become a costly, unaccountable cash cow for private insurance companies that is swallowing traditional Medicare.
There is “little evidence” that higher payments to Medicare Advantage are justified because their enrollees are sicker than the average senior.
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The simple solution to the Medicare Advantage problem is to kill off the program. It was just a Trojan horse to privatize Medicare, and its presence will make Medicare for All even harder to implement.
An impending move to privately managed health plans could save taxpayers as much as $600 million annually — at a high cost to retirees, who may have to pay more for less care and fewer doctor choices, some warn.
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