Despite Fears Medicare is Doing Well
Medicare fairing better than what people say
“So far, the concerns have not been borne out,” says Tricia Neuman, a senior vice president at the Kaiser Family Foundation who studies Medicare Advantage. “Enrollment continues to climb. Some of the forecasts have predicted that plans would pull out and people would drop out — so far it hasn’t happened.”
When Medicare open enrollment begins on Oct. 15, the approximately 14 million seniors who choose Medicare Advantage will find options that are, in many cases, better and only marginally more expensive than in the past. According to the U.S. Department of Health and Human Services (HHS), which oversees Medicare, the average Medicare Advantage monthly premium will increase only $1.64 in 2014, compared with in 2013. Of benefits and cost sharing, Gretchen Jacobson, also of Kaiser, says, “We haven’t seen dramatic changes.” Authors of the ACA originally targeted Medicare Advantage for cuts because the federal government was spending about 14% more per enrollee in the program than for those enrolled in standard Medicare. The ACA’s cuts to the program began in 2012 and will continue until 2017.
Joe Raedle / Getty Images People show their support for the Affordable Care Act during a rally in front of the Stephen P. Clark Government Center in Miami, on Oct. 10, 2013. While the new Obamacare insurance marketplaces have been plagued by dysfunction, an existing coverage program curtailed by […]
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