For more than three years I have been doing research and writing about Medicare and Medicare Advantage. I encourage you to view my video, “What Caused the Medicare Financial Crisis” posted on the NRLN website home page at www.nrln.org. This is Part 1 of a 5-part series on Medicare Privatization that is intended to inform you and members of Congress on this looming crisis.
The NRLN supports private insurance competition for Medicare’s insurance business, but only the American way, without public tax dollars being used to subsidize insurance companies’ overhead and profit. After years of insurers taking over $300 billion in taxpayer subsidies, Medicare Advantage plans, offering new special benefits, have not shown they can be competitive with original Medicare A & B Fee- For-Service (FFS) without government subsidies.
These new benefits apply only to Medicare Advantage plans that cover up to 20 million enrollees but are denied to 40 million in original Medicare A & B who may need the same benefit to stay alive.
There is a coming Medicare financial crises. The reaction from many members of Congress in both parties is to privatize Medicare to avoid being held accountable. Instead, they dole-out our tax dollars to finance healthcare insurers’ profits.
The NRLN’s # 1 goal is to protect retirees in Medicare Advantage HMO and local PPO plans from being victimized by new and increased premiums, deductibles, copays, and coinsurance that are inevitable!
Bill Kedereit, President
National Retiree Legislative Network