Medicare

Medicare Advantage Organizations: Actual Expenses and Profits Compared to Projections for 2006

Insurers pocket an extra $1.33 billion in profits previously projected to go to health benefits

By James C. Cosgrove
United States Government Accountability Office
December 11th, 2008
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House Ways and Means Health Subcommittee Chairman Pete Stark (D-CA) today released a report by the Government Accountability Office (GAO) showing that private Medicare Advantage (MA) plans spent less on health care services than they projected in 2006. As a result, private plans pocketed an extra $1.33 billion in profits – 65 percent more than estimated in their 2006 bids. This is the second year in a row that MA organization profits exceeded their own projections. A June GAO report showed that in 2005, MA plans earned an extra $1.14 billion in profit. more »

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Armand Biroonak's picture

CAF STAFF

Rising Health Care Costs are to Blame for Rising Medicare Cost

Submitted by Armand Biroonak
October 13th, 2008

The Congressional Budget Office reports the main factor in the rising cost of Medicare is the growth of health care costs—health expenditures as a percent of GDP have more than doubled since 1970, growing from 7.0 percent to 14.8 percent in 2002.

Source
CBO, CBO
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Bush's Medicare Drug Plan Leaves Millions Paying Higher

Submitted by Armand Biroonak
October 13th, 2008

President Bush’s push for further privatization of Medicare's prescription drug plan stuck 3.4 million Medicare beneficiaries with high drug costs.

Source
Kaiser Family Foundation
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Armand Biroonak's picture

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Prohibition to Drug-Price Negotiate Costs Government Billions

Submitted by Armand Biroonak
October 13th, 2008

Bush's Medicare prescription drug plan prohibits the federal government's ability to negotiate drug prices--costing the government an estimated $90 billion annually.

Source
Center for Economic and Policy Research
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Armand Biroonak's picture

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Bush Administration's Medicare Advantage Plan Costs Double

Submitted by Armand Biroonak
October 13th, 2008

The Bush Administration’s privatized “Medicare Advantage” plans are rising twice as fast as costs in traditional Medicare, according to the Government Accountability Office, the Congressional Budget Office, and the Medicare Payment Advisory Commission.

Source
Congressional Quarterly
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Armand Biroonak's picture

CAF STAFF

Price Negotiations Can Save Medicare Billions

Submitted by Armand Biroonak
August 11th, 2008

If Medicare were allowed to negotiate drug prices with manufacturers, the program would save approximately $90 billion a year, which could be passed along to the elderly in the form of lower costs or greater benefits.

Source
Center for Economic and Policy Research
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Obstruction Boosts Insurance Fat Cats

By Isaiah J. Poole
June 26th, 2008

Senate conservatives went into their customary obstruction mode again late Thursday, choosing to protect the interests of insurance companies while shortchanging the health care needs of older Americans and ignoring the will of the majority. more »

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Feds Try to Cut Costs of Hospital Errors

From chron.com
April 16th, 2008
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Submitted by Alex Carter

chron.com — Federal health officials on Monday proposed adding dangerous blood clots in the leg and eight other conditions to the list of complications that Medicare won't pay to treat if they were acquired at the hospital.

Read Full Article »

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Colombia Trade Deal Is Derailed. Let's Keep It Off the Tracks

By Tula Connell
April 15th, 2008

In August 2004, Hector Alino Martinez and three other Colombian trade unionists were dragged out of their homes and assassinated in the streets of Caño Seco. The men were among 96 unionists killed in Colombia that year. more »

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Medicare becoming more cost-efficient

Submitted by Robert Dorst2 (not verified)
April 14th, 2008

Medicare cost savings rose to $1.2 billion in 2006 from $136 million in 2001

Source
"Fewer Heart Attacks and Related Hospital Admissions Offset Rising Medicare Costs" PR-USA.net, 10 April 2008. http://www.pr-usa.net/index.php?option=com_content&task=view&id=96792&Itemid=9
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