[Marxism] Obamacare Cost Cutting

Jon Hiesfelter redbeard at riseup.net
Thu Oct 1 21:43:15 MDT 2009


Left out from the Counterpunch article is how much extra the private 
insurers cost the federal government.
My parents received several robo-calls spreading fear about Medicare 
Advantage being cut.  I'd bet they were paid for by the insurance 
companies that will miss this profit at the expense of Medicare dollars.

 From ^ GAO-09-132R, "Medicare Advantage Expenses"

The Government Accountability Office reported that in 2006, the plans 
earned profits of 6.6 percent, had overhead (sales, etc.) of 10.1 
percent, and provided 83.3 percent of the revenue dollar in medical 
benefits. These administrative costs are far higher than traditional 
fee-for-service Medicare.


More info on Medicate Advantage from Physicians for a National Health 
Program:
http://pnhp.org/blog/2008/11/25/the-medicare-advantage-lesson-on-what-not-to-do/




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