Report suggests standardizing Medicare Advantage bidding process

Dive Brief:

• A new report from the USC-Brookings Schaeffer Initiative for Health Policy and the Center for Health Policy at Brookings proposes two changes to the Medicare Advantage (MA) bidding process, which the researchers said would lower prices and offers more choices for consumers.
• The authors propose changing the process to improve price competition and standardize MA benefits that would improve comparison shopping for Medicare beneficiaries.
• The report estimates the changes would save the federal government $10 billion annually. The researchers also said the plan would reduce Part B premiums for both traditional and MA beneficiaries by about 2% per year.

Dive Insight:

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