Medicare’s Death Spiral
Americans who rely on Medicare for comprehensive health insurance are being assaulted by the forces of the American insurance industry. It’s nothing new. In 2003 the Medicare program was revamped and a new product, Medicare Advantage (MA), was created.
MA was created to privatize the Medicare insurance program and it is succeeding. People are lured in by low premiums and add-ons such as gym memberships and other lifestyle benefits. But MA is not the kind of insurance you want when you get sick. It works a lot like a managed care plan, meaning it is not portable from state to state and a lot of claims end up being denied that would have been easily accepted by traditional Medicare (TA).