The Yearly Medicare Advantage Media Blitz
The annual fall Medicare Advantage media blitz is in full swing. Private insurance companies are raking in billions of dollars on the backs of unwitting seniors who think they are getting a good deal but in fact are being robbed of not only benefits but money.
Here’s the quick rundown. In 2003 it was decided that the private insurance industry should share in the profits of the government’s Medicare program. It was a calculated political move to privatize Medicare and eventually turn it into an entirely private insurance product.
Keep in mind that Medicare’s administrative expenses run at about 2 percent while private insurance company administrative costs run as high as 20 percent or more.