Centers for Medicare & Medicaid Services (CMS) Bundled Payments

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7. The Dark History of Medicare Privatization

https://prospect.org/health/dark-history-of-medicare-privatization/

The Dark History of Medicare Privatization

Medicare Advantage was supposed to be a money-saver. It’s now become a costly, unaccountable cash cow for private insurance companies that is swallowing traditional Medicare.

BY BARBARA CARESS JANUARY 24, 2022

Rep. Pramila Jayapal has called it the “biggest threat to Medicare you’ve never even heard of.” It’s known as Direct Contracting (DC), a program concocted by the Trump administration and not yet ended by the Biden administration to fully privatize Medicare.

DC is patterned after Medicare Advantage, the publicly financed, privately owned, hugely profitable version of Medicare now enrolling 26 million people at an annual cost of $343 billion. Simply put, DC is Medicare Advantage (MA) on steroids.

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Rep. Jayapal, D-WA, chair of progressive caucus