NEW STUDY: Medicare Advantage Saves Beneficiaries Nearly $1,600 A Year
Beneficiaries more likely to find lower costs in Medicare Advantage, according to latest survey data
Washington, D.C. – Better Medicare Alliance (BMA), an advocacy and research organization supporting Medicare Advantage, responded today to an independent study showing that Medicare Advantage beneficiaries report $1,598 less in total annual health spending than their Traditional Medicare counterparts.
The findings were released in a new data brief and fact sheet prepared for Better Medicare Alliance by ATI Advisory and based on 2017 Medicare Current Beneficiary Survey data, the most recent year available. The results show an increase in savings for Medicare Advantage beneficiaries over the previous year’s survey figures, in which MA enrollees reported $1,276 less in total health spending than those in Traditional Medicare.
“Polling finds that Americans’ single greatest concern today is lowering consumer health care costs. As this report make clear, Medicare Advantage continues to do exactly that,” said Allyson Y. Schwartz, President and CEO of the Better Medicare Alliance. “With premiums at their lowest levels in 13 years and the peace of mind from an annual limit on out-of-pocket expenses, Medicare Advantage beneficiaries are experiencing even lower costs than last year, all while reporting record-high satisfaction.”
Schwartz concluded, “This report shows that more than half of Medicare Advantage beneficiaries live below 200 percent of the Federal Poverty Line and Medicare Advantage serves a higher proportion of beneficiaries who are also eligible for Medicaid. These low- and modest-income seniors depend on the quality, affordable care that Medicare Advantage provides. Policymakers looking for high-value health care solutions will find an answer in Medicare Advantage.”
Read the full data brief HERE. Read a two-page fact sheet HERE.