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      medicare privatization

      A pharmacist hands a patient a Covid-19 test

      Report Shows Big Insurance Profiting Massively From Medicare Privatization

      The seven largest for-profit insurance companies in the U.S. have seen their combined revenues from taxpayer-backed programs grow 500% over the past decade.

      Jake Johnson
      Feb 28, 2023

      A new analysis released Monday shows that insurance giants are benefiting hugely from the accelerating privatization of Medicare and Medicaid, which for-profit companies have infiltrated via government programs such as Medicare Advantage.

      According to the report from Wendell Potter, a former insurance executive who now advocates for systemic healthcare reform, government programs are now the source of roughly 90% of the health plan revenues of Humana, Centene, and Molina.

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      medicare privatization
      U.S. Health and Human Services Secretary Xavier Becerra speaks at an event

      'Cancel This Failed Experiment': Physicians Tell Biden HHS to End Medicare Privatization Pilot

      The program "presents a threat to the integrity of traditional Medicare, and an opportunity for corporations to take money from taxpayers while denying care to beneficiaries," said Physicians for a National Health Program.

      Jake Johnson
      Jan 19, 2023

      A national physician group this week called for the complete termination of a Medicare privatization scheme that the Biden White House inherited from the Trump administration and later rebranded—while keeping intact its most dangerous components.

      Now known as the Accountable Care Organization Realizing Equity, Access, and Community Health (ACO REACH) Model, the experiment inserts a for-profit entity between traditional Medicare beneficiaries and healthcare providers. The federal government pays the ACO REACH middlemen to cover patients' care while allowing them to pocket a significant chunk of the fee as profit.

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      medicare privatization
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