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The House Ways and Means Subcommittee on Health held a hearing last Friday to discuss the bipartisan effort behind competing premium support plans. These plans would restructure traditional Medicare and guarantee its fiscal stability in the future.
As Chairman Wally Herger (R–CA) said:
Unless Congress acts, the Medicare program that seniors and people with disabilities rely on will go bankrupt in just a few short years.… The premium support model holds promise to place Medicare on sound financial footing while transforming and modernizing the program to provide greater choice for beneficiaries.
In premium support, beneficiaries receive a defined contribution from the government toward a health plan of their choosing. This financing change—already the method for Medicare Part D drug coverage—would stimulate intense competition and lower costs and improve quality.
(Read the rest on The Foundry…)
Tags: bipartisan, defined contribution, Medicare premium support
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