Can Congress Find a Cure for Medicare’s Growing Troubles?
The new Congress should build on the success of the growing Medicare Advantage system. This can be done by repealing its existing, flawed payment system and replacing it with a system of free-market, competitive bidding outside of Medicare’s bureaucratic pricing. For example, government payment to health plans could be based on the average of premium bids among plans. If they wished to do so, seniors could buy a richer plan, priced above that amount. But if they wished to buy a plan priced below the standard government payment, as most Medicare Advantage plans do today, they could pocket the savings...Read More
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