Medicare Advantage was meant to curb federal healthcare spending. It’s costing more instead

Yahoo News May 9, 2023
By Don Lee

Medicare Advantage, which funnels government healthcare benefits through privately-run, managed-care insurers, has grown so fast that within months it’s expected to be the dominant form of coverage for seniors.

That’s largely because the plans, most of them HMOs, offer lower out-of-pocket costs, plus added benefits not covered by original Medicare, such as dental, vision and prescription drugs. Some Advantage plans even throw in gym memberships.

The one thing that Medicare Advantage has not done is curb the government’s healthcare spending, even though that was a big selling point in Washington when it was approved in the mid-1990s as Medicare Part C.

Today's Sponsors

Today's Sponsor