Enrollment of seniors in private Medicare Advantage plans could reach 70% of those eligible for federal health benefits for the elderly between 2030 and 2040
Sens. Kirsten Gillibrand, D-N.Y., Bernie Sanders, I-Vt., left, and Jeff Merkley, D-Ore., conduct an event to introduce the"Medicare for All Act of 2019" in Dirksen Building on Wednesday, April 10, 2019. ,For now, the regulatory and political environment remains positive for expansion of Medicare Advantage, which allows private health plans to contract with the federal government to provide medical benefits to seniors.
Health insurers see growth thanks in part to changes by the Trump administration in regulations that allow Medicare Advantage plans to cover more supplemental benefits. MA plans are also benefitting from more than 10,000 baby boomers turning 65 every day and becoming eligible for Medicare. A wild card could emerge after the 2020 Presidential elections should supporters of a single-payer version of “Medicare of All” succeed in their efforts and potentially diminish the role of insurers in the Medicare program.
With two dozen Democrats running for President in 2020 to challenge Donald Trump in 2020 should Republicans re-nominate him to run for re-election to a second term, the Democratic Party’s candidates are backing everything from a single payer approach to Medicare for All to efforts that allow Americans under the age of 65 to buy into Medicare coverage.
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