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The Water Cooler
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Trump to halt 'massive' ObamaCare subsidies
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<blockquote data-quote="Frederick" data-source="post: 3043234" data-attributes="member: 17825"><p><a href="http://healthaffairs.org/blog/2011/09/20/medicare-is-more-efficient-than-private-insurance/" target="_blank">http://healthaffairs.org/blog/2011/09/20/medicare-is-more-efficient-than-private-insurance/</a></p><p></p><p></p><ul> <li data-xf-list-type="ul">According to CMS, <a href="https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/DataCompendium/2010_Data_Compendium.html" target="_blank">for common benefits</a>, Medicare spending rose by an average of 4.3 percent each year between 1997 and 2009, while private insurance premiums grew at a rate of 6.5 percent per year. (See Table 13)</li> <li data-xf-list-type="ul">According to a calculation by the National Academy for Social Insurance, if spending on Medicare rose at the same rate as private insurance premiums during that period, Medicare would have cost an additional $114 billion (or 31.7 percent).</li> <li data-xf-list-type="ul">The <a href="http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/87xx/doc8758/maintext.3.1.shtml" target="_blank">CBO explicitly stated</a> that its data on relative cost growth should not be used to make the argument that Goodman and Saving make, writing that the relatively low growth rate of all health care expenditures other than Medicare and Medicaid “should not be interpreted as meaning that Medicare or Medicaid is less able to control spending than private insurers.” Goodman and Saving mistakenly suggest that the growth rate of private insurance is the same as the growth rate of all health care expenditures other than Medicare and Medicaid; however, as CBO points out, the growth rate of all health care expenditures other than Medicare and Medicaid includes not just spending by private insurers, but also government programs and out-of-pocket costs paid by the uninsured.</li> <li data-xf-list-type="ul">The CBO has predicted that the <a href="https://www.cbo.gov/sites/default/files/111th-congress-2009-2010/reports/01-27-ryan-roadmap-letter.pdf" target="_blank">rising cost of private insurance will continue to outstrip Medicare</a> for the next 30 years. The private insurance equivalent of Medicare would cost almost 40 percent more in 2022 for a typical 65-year old.</li> </ul><p><strong>Medicare Has Lower Administrative Costs Than Private Plans.</strong></p><p>.</p><p></p><ul> <li data-xf-list-type="ul"><a href="http://www.kff.org/medicare/7731.cfm" target="_blank">According to the Kaiser Family Foundation</a>, administrative costs in Medicare are only about 2 percent of operating expenditures. Defenders of the insurance industry <a href="http://mforall.net/files/CAHI_Medicare_Admin_Final_Publication.pdf" target="_blank">estimate administrative costs as 17 percent of revenue</a>.</li> <li data-xf-list-type="ul">Insurance industry-funded studies <a href="http://mforall.net/files/CAHI_Medicare_Admin_Final_Publication.pdf" target="_blank">exclude private plans’ marketing costs and profits</a>from their calculation of administrative costs. Even so, Medicare’s overhead is dramatically lower.</li> <li data-xf-list-type="ul">Medicare administrative cost figures <a href="http://www.kff.org/medicare/7731.cfm" target="_blank">include the collection of Medicare taxes, fraud and abuse controls, and building costs</a>.</li> </ul></blockquote><p></p>
[QUOTE="Frederick, post: 3043234, member: 17825"] [URL]http://healthaffairs.org/blog/2011/09/20/medicare-is-more-efficient-than-private-insurance/[/URL] [LIST] [*]According to CMS, [URL='https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/DataCompendium/2010_Data_Compendium.html']for common benefits[/URL], Medicare spending rose by an average of 4.3 percent each year between 1997 and 2009, while private insurance premiums grew at a rate of 6.5 percent per year. (See Table 13) [*]According to a calculation by the National Academy for Social Insurance, if spending on Medicare rose at the same rate as private insurance premiums during that period, Medicare would have cost an additional $114 billion (or 31.7 percent). [*]The [URL='http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/87xx/doc8758/maintext.3.1.shtml']CBO explicitly stated[/URL] that its data on relative cost growth should not be used to make the argument that Goodman and Saving make, writing that the relatively low growth rate of all health care expenditures other than Medicare and Medicaid “should not be interpreted as meaning that Medicare or Medicaid is less able to control spending than private insurers.” Goodman and Saving mistakenly suggest that the growth rate of private insurance is the same as the growth rate of all health care expenditures other than Medicare and Medicaid; however, as CBO points out, the growth rate of all health care expenditures other than Medicare and Medicaid includes not just spending by private insurers, but also government programs and out-of-pocket costs paid by the uninsured. [*]The CBO has predicted that the [URL='https://www.cbo.gov/sites/default/files/111th-congress-2009-2010/reports/01-27-ryan-roadmap-letter.pdf']rising cost of private insurance will continue to outstrip Medicare[/URL] for the next 30 years. The private insurance equivalent of Medicare would cost almost 40 percent more in 2022 for a typical 65-year old. [/LIST] [B]Medicare Has Lower Administrative Costs Than Private Plans.[/B] . [LIST] [*][URL='http://www.kff.org/medicare/7731.cfm']According to the Kaiser Family Foundation[/URL], administrative costs in Medicare are only about 2 percent of operating expenditures. Defenders of the insurance industry [URL='http://mforall.net/files/CAHI_Medicare_Admin_Final_Publication.pdf']estimate administrative costs as 17 percent of revenue[/URL]. [*]Insurance industry-funded studies [URL='http://mforall.net/files/CAHI_Medicare_Admin_Final_Publication.pdf']exclude private plans’ marketing costs and profits[/URL]from their calculation of administrative costs. Even so, Medicare’s overhead is dramatically lower. [*]Medicare administrative cost figures [URL='http://www.kff.org/medicare/7731.cfm']include the collection of Medicare taxes, fraud and abuse controls, and building costs[/URL]. [/LIST] [/QUOTE]
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