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Medicare Works: Public Program Continues to Outperform Private Insurance in Ensuring Access to Care and Providing Financial Protection
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Contributor | RP |
Last Edited | RP Jul 25, 2012 06:37pm |
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Category | Report |
News Date | Wednesday, July 25, 2012 12:35:00 AM UTC0:0 |
Description | The Medicare program continues to do better than private coverage for working-age adults when it comes to fulfilling the main purposes of health insurance—providing access to care and adequate financial protection from burdensome medical bills, according to Commonwealth Fund research published July 18 in the health policy journal Health Affairs. The study also found that elderly beneficiaries who opted for private Medicare Advantage coverage over traditional Medicare plans were significantly more likely to experience problems accessing care and to give their plan a fair or poor rating.
Policymakers should exercise caution in considering proposals to convert traditional Medicare coverage to a voucher program to subsidize the purchase of private insurance. Our findings suggest that such a policy might reduce beneficiaries' satisfaction with their coverage—and make it harder for them to obtain needed care. In fact, the comparatively better performance of Medicare relative to individual private coverage suggests that it may be desirable to open up the program to people buying insurance through the state exchanges—especially to older adults (ages 60–64) who will soon qualify for Medicare. Offering a choice of traditional Medicare and Medicare Advantage plans to the nonelderly population would build on the program's wide provider network and experience in making care available to more Americans at lower costs. |
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