Keckley Report July 8, 2019
Medicare is the federal program that provides health insurance coverage to 59.7 million Americans: 51.7 million are seniors 65 plus and 8.6 million who are disabled. It is the second biggest category of federal spending behind social security program and its fastest growing: every day, 10,000 Baby Boomers age into Medicare. As a result of projected enrollment growth, average annual spending growth in Medicare (7.4%) is expected to exceed that of Medicaid (5.5%) and private health insurance (4.8 %).
Since the 1970’s, seniors have had an option to use traditional fee-for-service Medicare or opt for a private managed care alternative. In 2003, in the Medicare Modernization Act, the fundamental strategy for Medicare Advantage was authorized: seniors would have an alternative...
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