The Real “Advantage” Of Medicare Part C Advantage Plans
In the late 1990s, the United States government had a wonderful idea of starting to privatize Medicare. The Balanced Budget Act of 1997 created new health care options for Medicare beneficiaries through Medicare + Choice. Later the name was changed to Medicare Advantage. This Medicare + or Medicare Advantage Option is designed to give older people more options on how to receive their Medicare benefits. Having the right to choose is the American way and this bill was passed by Congress on that idea. This gave seniors the right to choose private Part C Advantage insurance and opt for traditional Medicare Parts A and B. The privatization of Social Security benefits has led to a myriad of problems, including: a higher cost for the US government, Limited health care options for Part C Advantage beneficiaries and unscrupulous Part C Advantage companies.
The cost of Medicare is on the verge of bankruptcy in the United States social security system. The United States spends 599 billion or 20 percent of federal spending on Medicare, that number will increase as the baby boom generation reaches retirement. The hope that the privatization of Medicare Parts A and B would reduce social security spending proved incorrect. Currently, the Social Security system costs more for a person with Medicare Advantage than traditional Medicare Part A and B. According to a September 2010 study by the US government, it costs $1,140 more for registration than it would cost for the same number of patients under Traditional Medicare treatment. This is the type of expense that must be reduced to save the Medicare system.
Just recall that Medicare Advantage Plans also known as Part C are organized very similarly to the main health medical insurance that most American citizens have had throughout their lives. Advantage plans have coverage areas, network doctors and coverage limits. These health limitations are something that most Americans expect and face without complications. Older people are opting for traditional Medicare, perhaps the best medical care in the world, for private insurance with significant limitations. Most Medicare Advantage beneficiaries do not realize they have been removed from Medicare Parts A and B until they get sick and cannot see a doctor or receive the treatment they need. Medicare benefit plans do not offer older people a better form of medical care.
The Medicare C Part Advantage Insurance program by Medicare is government private financing for people who opt for Medicare Part A and B. These private insurers are in business to make money like any other company. To do this, they must keep costs low and generate as much revenue as possible. This is not a good omen for Part C beneficiaries; they are struggling against private benefits insurance and having to cut off an endless supply of paperwork.