Medicare Advantage is Taking Over the World

Everyone knows that Medicare is going to eat the budget. But last week the Medicare Trustees issued their annual Medicare Trustees Report and they said that costs are increasing slower than expected. They have a point. Medicare has been chugging along at 3 percent of GDP ever since 2010. After plugging the numbers from the Trustee Report into usgovernmentspending.com, for my money the big takeaway is that Medicare Advantage, or Part C, is now on course to become the biggest part of Medicare. Look at the rapidly growing green sector in the chart. Who knew? It is really hard to get the numbers on Medicare Advantage, or Medicare Part C. Regular Medicare is like every government healthcare program. It has a bunch of free stuff up front -- like free recliners and walkers for little old ladies -- followed by a gap where you have to pay up, followed by more benefits. That gap is why AARP is the leading marketer of “Medigap” insurance that fills the gap. The Bush era...(Read Full Article)

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