Medicare Advantage Plans Is on the Way Out

The future of Medicare Advantage plans is in jeopardy and must be put on the agenda for possible reform and conversion to a single payer system. The first step toward a national health care system, like Medicare’s program, is establishing a framework for reform and using the actuarial data for comparison and analysis to determine which programs are more efficient and cost effective than others. Ability: A single-payer system would eliminate the fear of catastrophic costs by providing a means of payment to everyone who needs medical care. The government would be forced to spend more resources to provide care to everyone, so that catastrophic medical expenses are reduced and there is a lower demand for physician care and hospital services.Malpractice Insurance: Medicare Advantage plans provide cost-efficient alternatives to current malpractice insurance. Malpractice insurance allows doctors to receive compensation when they make mistakes that lead to physical or mental injury to a patient. If you need a Medicare Advantage plans 2020 visit https://www.medicareadvantageplans2020.org

Primary Care Physician Networks: The goal of primary care physician networks is to reduce medical errors and improve patient care through health information exchanges. When patients have access to comprehensive health information exchanges, the information is verified and used by physicians to protect patient privacy and efficiency.Technology: Another important factor is cost. Even with federal funding for medical malpractice insurance, many physicians report spending much less on malpractice insurance than the actual malpractice costs, and this plays a role in reducing the cost of medical care. Some physicians prefer not to be in traditional primary care networks because of the high cost of this coverage, which is far higher than they currently receive from their traditional primary care physician.

Time to Conversion: Medicare Advantage Plans are an option for many people. Medicare Part D, which provides prescription drug coverage, is an option for many seniors who are unable to afford the drug plan or Medicare Part B. A single-payer program may not be possible because there are a number of dedicated private financing systems in place today, but it’s only a matter of time before one exists that can allow a high level of quality care for everyone.Equity: Most people agree that cost is one of the major factors that leads to reduced health and quality of life. One argument for having an alternative to traditional Medicare is that the plan doesn’t allow for enough competition among providers. A single-payer program could address this issue, but it also raises the issue of fairness.

Time to Conversion: Medicare Advantage Plans were introduced as an incentive to encourage a change to a fee-for-service medical system. As a result, people didn’t see how they would save money in the long run because their plan would pay for health care if they choose a doctor or hospital.Time to Conversion: Private health care financing and federal funding have encouraged people to switch to private care plans. An alternative would be to eliminate the need for them altogether and reduce the strain on health care financing.Disadvantages: The Medicare Advantage plans require a large investment upfront. In addition, it’s difficult to measure how well a plan actually performs, due to the wide variety of variables affecting providers.

While patients can enjoy many benefits without paying large amounts upfront, the business model behind the plans is inefficient. The plan needs to prove its value to reward funds and patients, but also needs to focus on reducing costs. I agree with what Mark Pauly, president of the American Association of Retired Persons, wrote: “The advantages plans are designed to give seniors a financial edge against their current health insurance plans. Medicare Advantage plans are on the way out, unless a consensus emerges in Congress to increase Medicare’s funding to match the rising cost of the programs’ health care coverage. Until then, seniors are losing the advantage that these plans provide.”