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Medicare Blog | Medicare News | Medicare Information

Medicare Advantage Healthcare Spending Exceeds Original Medicare

Posted by www.psmbrokerage.com Admin on Fri, Aug 27, 2021 @ 08:17 AM

ma spending exceeds medicare

On average, in 2019 Medicare Advantage plans spent $321 more per person than traditional Medicare, largely due to the
 supplemental benefits that are a trademark of Medicare Advantage.

Booming Medicare Advantage enrollment provides another reason for the increase in enrollee spending overall.

Researchers projected that this trend of Medicare Advantage spending exceeding fee-for-service Medicare spending would increase over time, as will enrollment.

By 2029, enrollment growth will have contributed $104 billion—or half—of Medicare Advantage spending.

Higher payments per enrollees will make up the other half of Medicare Advantage spending through 2029 ($105 billion).

The escalating costs per Medicare Advantage enrollee are partly due to the projected growth in rebate payments (eight percent annually, on average).

As quality bonus payments and benchmarks rise, rebates will increase as well.

Overall, Medicare Advantage outpaces traditional Medicare spending. The Medicare Advantage model has never produced savings when compared to traditional Medicare plans, the researchers stated.

However, future Medicare Advantage spending might not be as high as the projections indicate, based on certain factors.

“MedPAC recently recommended changes to how plan payments are calculated, observing that because most plans currently bid well below the cost of providing Part A and B services in traditional Medicare, there is an opportunity for the Medicare program to share in these efficiencies,” the brief explained.

If these changes went into effect, total Medicare Advantage spending might be $82 billion less than the projected $664 billion in total Medicare Advantage spending from 2022 through 2029.

Alternatively, if Medicare Advantage spending growth matched traditional Medicare growth from 2021 to 2029, then overall Medicare Advantage spending might be $183 billion lower than the projected total.

Read the full Analysis


The Secret Skill Every Agent Needs to Sell More (Podcast)

Posted by www.psmbrokerage.com Admin on Thu, Aug 26, 2021 @ 02:56 PM

The Secret Skill Every Agent Needs to Sell More (Podcast)


Chris from Life Insurance Academy Podcast interviews special guest host Tony Merwin, a Medicare expert with Precision Senior Marketing, who trains insurance agents on a valuable skill to help them grow their sales as well as their business and social profile.

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To listen to more from Life Insurance Podcast.


Customizable AEP Annual Review Letters - Agent Use

Posted by www.psmbrokerage.com Admin on Wed, Aug 25, 2021 @ 04:25 PM

Tags: Customer Retention, prospecting, AEP, 2022

PSM Now Offering Clover Medicare Advantage Plans

Posted by www.psmbrokerage.com Admin on Thu, Aug 12, 2021 @ 10:09 AM

Tags: Clover Health Medicare Advantage

Prosperity Life Medicare Supplement Agent Bonus Details

Posted by www.psmbrokerage.com Admin on Wed, Aug 11, 2021 @ 03:06 PM

Tags: Medicare Supplement, Prosperity Life

Almost Half of Medicare Enrollees Lacked Dental Coverage in 2019

Posted by www.psmbrokerage.com Admin on Mon, Aug 02, 2021 @ 09:17 AM


Almost Half of Medicare Enrollees Lacked Dental Coverage in 2019

An analysis by the Kaiser Family Foundation(KFF) found that close to half of Medicare beneficiaries, around 24 million people, did not have dental coverage in 2019.

In contrast, 94% of Medicare Advantage enrollees in individual plans are in a plan that offers access to some dental coverage.

The most common coinsurance for more extensive dental services, such as fillings, extractions, and root canals, is 50%. Meanwhile, about 10% of Medicare Advantage beneficiaries are required to pay a separate premium to access any dental benefits.

Nearly half of Medicare beneficiaries and more than two thirds of black beneficiaries, did not visit the dentist in 2019.



The Impact of Untreated Oral Care

Without dental coverage many people forgo dental care.

Poor oral health can exacerbate certain chronic conditions, and result in costly emergency room visits, KFF found. Medicare Advantage plans are the leading source of dental coverage for people with Medicare. 

Among beneficiaries who have the ability to pay for dental treatment, many experience high out-of-pocket costs, with 20% of people spending more than $1,000 out-of-pocket on dental care.

Most Medicare Advantage enrollees with access to dental coverage have preventive benefits, such as cleanings, and access to more extensive dental benefits for services such as extractions and root canals that typically require 50 percent coinsurance for in-network care, and are subject to an annual dollar cap, the analysis finds.

The average annual cap on dental benefits is about $1,300 in 2021.

Among the factors policymakers likely will consider in determining whether to add a dental benefit to Medicare are the scope of covered benefits, the amount of beneficiary cost sharing for specific services, and the impact on overall Medicare spending and premiums.

 See the Full Report

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